Tags : GDP

Angola Becomes Africa’s Top Crude Oil Producer

A new report by the Organisation of the Petroleum Exporting Countries (OPEC) shared that Angola has taken first place in crude oil production after displacing Nigeria in the month of August. The report revealed that Nigeria’s crude oil production for August averaged 1.100 million barrels per day while Angola’s production averaged 1.187mb/d. In July, Angola […]Read More

FG Receives N1.09tn From Indirect Taxes

According to data from the National Bureau of Statistics, the Federal Government received N1.09tn from indirect taxes in the first two quarters of 2022. This represents a 10.29 percent increase from N984.33bn obtained in the first two quarters of 2021. Indirect taxes are calculated based on current basic prices. They are taxes paid to the […]Read More

Nigeria’s GDP Grew By 3.11% In Q1 2022 

Nigeria’s Gross Domestic Product grew by 3.11 per cent in the first quarter of 2022. The National Bureau of Statistics disclosed this in its Nigerian Gross Domestic Product Report Q1, 2022. It stated that, “Nigeria’s Gross Domestic Product grew by 3.11 per cent (year-on-year) in real terms in the first quarter of 2022, showing a […]Read More

In Four Years, Workers In Formal Sector Earn N159tn

  According to data from the National Bureau of Statistics, employees in Nigeria’s formal sector earned N159.01 trillion from 2018 to 2021. This was contained in its ‘Nigerian Gross Domestic Product Report’. The NBS said the total compensation of employees in the nation, based on the GDP and expenditure at current purchasers’ value, was N34.36tn […]Read More

Agric Imports Hit N2.7tn In 2021

Nigeria’s agricultural imports continued to take an upward trajectory, hitting N2.7tn in 2021. This is coming despite spending no less than N129.084bn on agriculture loans to farmers. According to findings by our correspondent, the Central Bank of Nigeria and the Federal Government, through the Agricultural Credit Guarantee Scheme Fund (ACGSF), has guaranteed a total of […]Read More

Nigeria Drops To 118th In World Happiest Countries Ranking

A publication of the United Nations Sustainable Development Solutions Network, powered by the Gallup World Poll has revealed that Nigeria ranks 118th out of 146 happiest countries globally. This is a decline by two spots from its position last year.  The 2022 World Happiness Report is global survey data used to report how people evaluate […]Read More

Nigerians Spent $2.29 billion On Beer In 2019

A new report by Oxford Economics has shown that Nigerian consumers spent $2.29 billion (approximately N826.69billion) in 2019  on beer. The Study titled: “Beer’s Global Economic Footprint”, commissioned by World Brewery Alliance  which assessed the beer sector across 70 countries, covering 89 percent of beer sold worldwide, by volume, revealed that Nigeria ranked 30th in […]Read More

Mining, Quarrying Sector Contributed N5.37tn To GDP In 2021

According to the National Bureau of Statistics, the mining and quarrying sector recorded a total contribution of N5.37tn to the Gross Domestic Product in 2021. This was according to the data obtained from the Gross Domestic Product for the year under review. The N5.37tn was, however, a decline when compared to the N5.82tn recorded in […]Read More


How Nigeria’s 2021 GDP Beats Projections

The National Bureau of Statistics, in its quarterly report, has published that the country’s Gross Domestic Product grew by 3.98 percent in the fourth quarter of 2021. This, which is considered as the strongest growth since 2014, translates to 3.4 percent as the annual GDP growth for 2021. According to… You must be registered to […]Read More

Banks, Others Contribute N2.3trn To Economy

Findings from the Gross Domestic Product released by the National Bureau of Statistics Q4 2021 report has shown that Banks and other financial institutions excluding insurance, contributed N2.3 trillion to the nation’s real GDP, in 2021. This is  up by 10.5 per cent from 2.1 trillion in 2020. The contribution of banks and other financial […]Read More