Tag: NBS

Nigerians groan, as cooking gas price rises by 83.7%

Aminu Imam

As the nation prepares for its 2023 general elections, many Nigerian households and businesses are finding it difficult to keep up with the hike in the price of commodities, one of which is cooking gas. According to the latest data by the National Bureau of Statistics, (NBS), refilling a 5kg cylinder of liquefied petroleum gas (cooking gas) stood at N3800.47 last month. A development that translates to an 83.67% increase from an average retail price of N2,069.21 in April 2021, on a year-on-year basis. Speaking with newsmen, a barber, Adam,…

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Prices of yam, beans, tomatoes, bread rise by over 40% as inflation bites harder

Aminu Imam

Figures from the National Bureau of Statistics, (NBS) show that the average prices of food items in Nigeria, such as yam, beans, tomatoes and bread, recorded significant increases within a one-year, between February 2021 and February 2022. The average cost of beans increased rose by 50.1%, from N331.48 to N 497.54 during the review period, the NBS figures showed. On a monthly basis, the price of beans recorded an increase of 3.34%, from N481.47 in January 2022 to N497.54 in February 2022. As of February 2021, the average cost of…

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Cooking gas price skyrockets by 83% in one year – NBS report

Aminu Imam

The average retail price for cooking gas increased by 83.62 percent from N2057.71 in March 2021, according to a new report by the National Bureau of Statistics, (NBS). The report, titled: Liquefied Petroleum Gas (Cooking Gas) Price Watch (March 2022), indicated that the average price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) stood at N3778.30 in March 2022, from N3708.58 recorded in February 2022, showing an increase of 1.88% month-on-month. According to the State profile analysis, the highest average price for refilling a 5kg cylinder of…

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Capital importation into Nigeria drops by 31% to $6.7bn in 2021 – Statistics Bureau

Aminu Imam

Capital importation into Nigeria fell by 31% to $6.7 billion in 2021, from $9.68 billion in 2020, according to the Capital Importation Report for the Fourth Quarter of 2021 (Q421) released by the National Bureau of Statistics, (NBS), on Wednesday. The report shows that the three components of capital importation recorded a decline in 2021. Portfolio Investment suffered the largest decline of 34 percent, falling to $3.39 bn in 2021, from $5.14 billion in 2020. Foreign Direct Investment (FDI) followed, with a 31% decline to $699 million in 2021, from…

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Nigerias inflation rate rises to 15.63% – NBS

Aminu Imam

Nigerias inflation rate in December 2021 rose to 15.63%, from 15.4% recorded in November 2021, after 8 months of consecutive decline. This is according to the consumer price index report released by the National Bureau of Statistics, (NBS). The nations inflation rate had been on a steady decline in the past 8 months since April 2021, moderating from the highs recorded in the previous year. However, the rate had just back-pedalled with a slight increase in December, 2021. Food inflation, which accounts for all volatile agricultural produce, increased by 0.16%…

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Kerosene, cooking gas prices increase in August NBS

Aminu Imam

The National Bureau of Statistics (NBS) says the average price per litre paid by consumers for household kerosene increased to N400.01 in August from N397.34 in July. A report obtained from the NBSs website on Friday, said the kerosene price increased by 0.67% month-on-month and by 15.43% year-on-year in the period under review. It said that States with the highest average price per litre of kerosene were Enugu, where residents bought the product at N494.05, Ebonyi, N489.17 and Cross-River, N487.50. The Bureau, however, said that residents in Bayelsa paid the…

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Just In: Nigeria GDP records significant growth NBS

Aminu Imam

Nigerias Gross Domestic Product (GDP) grew by 5.01% (year-on-year) in real terms in the second quarter of 2021, the National Bureau of Statistics, (NBS), has said. The NBS disclosed this in the latest report on the nations GDP entitled: Nigerian Gross Domestic Product Report (Q2 2021) released on Thursday. It explained that the increase in the GDP index marked three consecutive quarters of growth following the negative growth rates recorded in the second and third quarters of 2020. Year to date, real GDP grew 2.70% in 2021 compared to -2.18%…

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Nigerias economy grows 0.51% in Q1-2021 on oil recovery – NBS

Aminu Imam

The nations Gross Domestic Product (GDP) increased by 0.51 percent in the first quarter of 2021. This is according to the first-quarter GDP report released by the National Bureau of Statistics, (NBS), yesterday. Nigeria had recorded an increase of 0.11 percent in the fourth quarter of 2020. With the latest figure, the country has recorded its second consecutive quarter growth since the economy fell into recession in 2020. The NBS report further stated that, Nigerias GDP grew by 0.51% (year-on-year) in real terms in the first quarter of 2021, marking…

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Lagos, Rivers, FCT, Delta top 2020 IGR chart – NBS

Aminu Imam

States IGR drops to N1.31tr in 2020 Lagos, Delta, Kaduna and Ogun States topped the 2020 Internal Generated Revenue (IGR) chart in the country, a report released by the National Bureau of Statistics (NBS) has shown. The NBS disclosed this on Friday, in its Internally Generated Revenue At State Level report for the fourth quarter and full-year 2020 published on its website. The NBS said Lagos State recorded the highest IGR of N418.99bn, closely followed by Rivers, with N117.19bn and the FCT with N92.05bn. Delta State recorded N59.732bn; Kaduna N50.768bn;…

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Nigerias inflation rate surges to 18.17% in March – NBS

Aminu Imam

Highest in over 4 yrs Nigeria’s Consumer Price Index, (CPI), which measures the rate of increase in the price of goods and services, increased to 18.17 percent in March 2021. This is according to the March 2021 consumer price index/inflation report released by the National Bureau of Statistics, (NBS), yesterday. This is 0.82 percent points higher than the rate recorded in February 2021 (17.33 %). The March figure is the highest since January 2017 when it climbed 18.72 %. The food inflation figure also increased by 1.16 % on a…

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