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Nigeria’s Inflation Hits 18.17%, Highest In Four Years
The inflation rate in Nigeria has increased to 18.17 percent in March 2021. This is the highest level recorded since January 2017. According to the Consumer Price Index of March 2020 published by the National Bureau of Statistics (NBS), the prices of food have also gone up to 21.79 percent recorded in February to 22.95…
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Nigerian States Generate N1.31 Trillion IGR
The state IGR report released by the National Bureau of Statistics revealed that the 36 states and Federal Capital Territory generated a sum of N1.31 trillion as Internally generated revenue in 2020. The report stated that states’ IGR declined by 1.93 percent from N1.33 trillion, recorded in 2019 to N1.31 trillion in 2020. It however…
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IGR: Only Three States Fiscally Sustainable
Following the release of the Internally Generated Revenue by states, the report has shown that only Lagos, the Federal Capital Territory (FCT) and Ogun State are fiscally sustainable. According to the ‘Internally Generated Revenue At State Level – Q4 and full-year 2020 report‘ released by the National Bureau of Statistics (NBS), the 36 states of…
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Household Consumption Drops By N1.6 trillion
Nigeria’s household consumption for 2020 dropped by ₦1.6 trillion, according to the National Bureau of Statistics’ latest Gross Domestic Product report (Expenditure and Income Approach) report released. The statistics agency said total household consumption dropped from ₦108 trillion in 2019 to ₦106.4 trillion in 2020. Consumption expenditure is an important indicator in measuring economic growth…
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Nigeria Debt Hit N32.9 Trillion
Nigeria’s total public debt portfolio as at December 31, 2020, stood at N32.92 trillion. The National Bureau of Statistics, revealed this in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020. According to the bureau, Nigeria’s total public debt showed that N12.71 trillion or 38.60 per cent of the debt was external, while…
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NBS: People Willing To Get COVID-19 Vaccine Declined
The number of people who are willing to be vaccinated has fallen from 86 percent in October 2020 to 83 percent in February, 2021. The National Bureau of Statistics revealed this in its report titled ‘COVID-19 impact monitoring February 2021’. The report read, “The vast majority of respondents report that they would agree to be…
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NBS: Transport Fare Rises In February
The transport fare paid by passengers for bus, motorcycle and waterway journeys rose in February 2020. The increase was attributed to the slight increase in petrol price during the period. This was contained in its ‘Transport fare Watch’ report for February 2021 released by the National Bureau of Statistics. The report said the fare paid…
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Nigeria’s Inflation Rises To 17.33% In February 2021
Nigeria’s inflation rate has risen to 17.33 percent in February 2021, from 16.47 percent recorded in January 2021. This, according to the latest inflation report published by the National Bureau of Statistics, represents the highest inflation rate recorded in four years. The last time the country recorded an inflation rate this high was in February…
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Q4 2020: Nigeria’s Unemployment Rate Rise To 33.3%
Nigeria’s unemployment rate at the end of 2020 increased by 6.2 percent in the fourth quarter from 27.1 percent recorded in the second quarter of 2020. The increase, 33.3 percent, indicates that about 23,187,389 (23.2 million) Nigerians remain unemployed in the fourth quarter. This is according to the recently released labour force report published by…
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Survey: 17% Enterprises Still Closed Due To COVID-19 Effect
The National Bureau of Statistics has revealed that about 17 percent of non-farm enterprises have remained shut due to the adverse effect of COVID-19 as of December 2020. The NBS disclosed this in its ‘COVID-19 impact monitoring report’ for November/December 2020. Part of the report read on non-farm enterprise read, “Even with respondents back at…