The National Bureau of Statistics (NBS) has reported a year-on-year real GDP growth of 3.13% for Nigeria in the first quarter of 2025, surpassing the 2.27% recorded in Q1 2024. This follows a rebasing exercise using 2019 as the base year, which aligned previous quarterly estimates with new, higher annual GDP figures. The robust performance…
In the first quarter of 2025 (Q1 2025), Nigeria recorded N5.172 trillion surplus trade, according to the National Bureau of Statistics (NBS). NBS in its “Foreign Trade in Goods Statistics Q12025,” revealed that the country’s import dipped to N15.426 trillion as export rose to N20.59trillion, totally N36.02trillion trade in the period under review. The report…
The National Bureau of Statistics, NBS, yesterday said that illegal and hidden activities like prostitution and drugs peddling will now be included in the calculation of the country’s Gross Domestic Product, GDP. In a report by Vanguard, the NBS has proposed 2019 as a new GDP base year and 2024 as new base year for…
The National Bureau of Statistics (NBS) has raised an alarm that its official website has been hacked by unknown fraudsters. The Bureau, which made this known in a short statement issued on its X social media handle at 8.32pm on Wednesday, warned the general public to disregard any message or report posted on its behalf…
Nigeria’s unemployment rate declined to 4.3 per cent in the second quarter of 2024, signalling improved labour market conditions. According to the latest report released on Monday, by the National Bureau of Statistics, this marked a decrease from the 5.3 per cent recorded in Q1 2024 and reflected a gradual recovery from the 5.0 per…
A data review for the second quarter debt portfolio of the country released by the National Bureau of Statistics (NBS) has shown that the debt owed by every Nigerian on the average stood at N619,501. According to the data published by the Debt Management Office, Nigeria’s public debt stood at N134.297 trillion as of the…
The average price of imported high-quality loose rice has risen by 144.77 per cent over the past year, according to a report by the National Bureau of Statistics (NBS). The selected food prices report published by the Bureau said the average price for a 50kg bag of imported rice has jumped from N49,103 in September…
Nigeria’s capital importation, known as foreign investments, rose by 152.81 per cent to $2.604.50 million in the second quarter of 2024, compared to $1.030.21 recorded in the corresponding quarter of 2023. The National Bureau of Statistics disclosed this in its latest Capital Importation Data released on Tuesday. However, this represents a 22.85 per cent decline…
The country’s unemployment rate rose to 5.3 per cent in the first quarter of the year (Q1 2024) compared to 5 per cent in Q4 2023, the National Bureau of Statistics (NBS) said Tuesday. According the Nigeria Labour Force Statistics Report, Q1 2024, the employment-to-population ratio was 73.2 per cent, a decrease of 2.4 per…
Nigeria’s headline inflation rate eased to 32.15% in August 2024 down from the 33.40% recorded in July 2024, reflecting a decrease of 1.25 percentage points. This represents the second consecutive monthly slowdown in inflation after easing in the previous month. This is according to the Consumer Price Index (CPI) report published by the National Bureau…