NBS

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Nigeria’s Merchandise Trade Rose To N12.74trn in Q2 – NBS

THEWILL. -
September 10, (THEWILL) - In the second quarter of 2023, Nigeria’s total trade stood at N12.74 trillion, total exports stood at N7.01 trillion and total imports amounted to N5.72 trillion, the National Bureau of Statistics (NBS) has said. Total...
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NBS Unemployment Rate Controversy

THEWILL. -
September 03, (THEWILL) - I read quite a few commentaries that are dismissive of the new methodology which dropped Nigeria’s unemployment rate to 4.1 per cent. But I think we should understand that there are merits and demerits....
Business

Nigeria’s GDP Growth Hits 2.51% In Q2 2023 – NBS

Aina Ojonugwa, THEWILL -
August 25, (THEWILL) - Nigeria’s Gross Domestic Product (GDP) grew by 2.51 percent (year-on-year) in real terms in the second quarter of 2023, up from 2.31 percent recorded in the first quarter of 2023, the National Bureau of Statistics...
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Nigeria’s Inflation Hits 24.08%

Aina Ojonugwa, THEWILL -
August 15, (THEWILL) - Nigeria’s headline inflation rate for the month of July 2023, increased to 24.08%, compared to 22.79% recorded in June 2023, the National Bureau of Statistics (NBS), said on Tuesday, in its Consumer Price Index...
Business

Investment Inflow Declines By 28% In Q1 2023

Sam Diala, THEWILL -
July 10, (THEWILL) - Total capital importation into Nigeria in Q1 2023 stood at US$1,132.65 million, lower than US$1,573.14 million recorded in Q1 2022, indicating a decrease of 28.00% the National Bureau of Statistics (NBS) stated in its...
Business

Nigeria’s Inflation Rate Hits 17-Year High to 22.41%

Sam Diala, THEWILL -
June 15, (THEWILL) - Nigeria’s inflation rate climbed to 22.41% in May 2023, marking a new 17-year high, on accelerated price of food amid lingering insecurity across the country. The National Bureau of Statistics (NBS) monthly inflation rate published Thursday...
Business

Nigeria’s Economy Declined to 2.31% in Q1 2023, Amid Cash Crunch

Sam Diala, THEWILL -
May 24, (THEWILL) – Nigeria’s economic growth slowed in the first quarter of 2023 as the Gross Domestic Product (GDP) grew by 2.31 per cent year-on-year within the quarter, the National Bureau of Statistics (NBS) has said. The statistics...
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Average Retail Pump Price Of PMS Drops Slightly To N254 Per litre In April – NBS

Aina Ojonugwa, THEWILL -
May 19, (THEWILL) – The average retail price of a litre of Premium Motor Spirit (PMS), popularly called petrol, witnessed a drop from N264.29 in March to N254.06 in April 2023, the National Bureau of Statistics (NBS) said...
Business

Bayelsa, Kogi, Rivers Most Hit by Inflation in April

Sam Diala, THEWILL -
May 16, (THEWILL) - Bayelsa, Kogi and Rivers – were most battered by inflation among Nigeria’s 36 states, in April, 2023, according to the National Bureau of Statistics (NBS). Analysing price movements under the states, the NBS said Bayelsa, Kogi...
Business

Nigeria: Food Prices Maintain Upward Trend – NBS

THEWILL. -
Selected Food Price Watch for March 2023 shows that the average price of 1kg of Beef (boneless) stood at N2,479.61 in March 2023. This indicates a rise in price by 25.05% on a year-on-year basis from the price recorded...
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BusinessOgochukwu Onwaeze, THEWILL -

CBN Cuts Rates By 350bps, But Banks Still Earn Above 17 Percent On Securities

The CBN reduced its Monetary Policy Rate from 26.5 percent to 23 percent in September, signalling a shift towards a less restrictive monetary policy environment. However, yields on Open Market Operations bills and Federal Government bonds have remained elevated, cushioning the immediate impact of the policy change on banks’ investment income.
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