The Dangote Refinery is poised to halt Nigeria’s monthly importation of approximately one billion liters of premium motor spirit, signaling a significant shift in the nation’s fuel landscape. Aliko Dangote, Chairman of the Dangote Group, announced that Nigeria will cease petrol imports once the refinery begins selling the product in June. This development follows the … Read more
The National Bureau of Statistics (NBS) has released its latest data, revealing that Nigeria’s inflation rate surged to 33.69% in April 2024, up from 33.20% in March 2024. This 0.49% increase marks a continued upward trend in the country’s inflation rate. The NBS report, titled “Consumer Price Index April 2024,” highlights that the year-on-year headline … Read more
The National Bureau of Statistics (NBS) has reported a significant increase in cooking gas prices, with the average cost to refill a 5kg cylinder of Liquefied Petroleum Gas shooting up by 7.10% from February to March 2024, hitting N6,591.62 According to the latest NBS report for March 2024, the average price to refill a 5kg … Read more
Data released by the National Bureau of Statistics (NBS) revealed that 18 out of the 36 states in the country failed to attract foreign investment in the last three years (2021 – 2023). NBS listed the states as follows : 1. Bauchi 2. Bayelsa 3. Benue 4. Borno 5. Cross River 6. Ebonyi 7. Edo … Read more
The National Bureau of Statistics (NBS) Monday, April 15, said the inflation rate increased from 31.70% in February 2024 to 33.20% in March 2024. According to the Bureau in its Consumer Price Index (CPI) and Inflation Report March 2024, it rose by 1.50% point compared to the previous month. NBS said: “In March 2024, the … Read more
Ahead of the release of March 2024 inflation statistics, Analysts have provided reasons why the Consumer Price Index (CPI), which measures inflation, will jump to about 32.15 percent from 31.7 percent in February, a 29-year high. According to available statistics from the National Bureau of Statistics (NBS), Nigeria’s annual inflation rate last reached current levels … Read more
The consumer price index (CPI), which measures the rate of change in the prices of goods and services, increased to 29.9 percent in January 2024, up from 28.92 percent the previous month. The National Bureau of Statistics (NBS) confirmed this in its January CPI report, which was released on Thursday. According to the bureau, food … Read more
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says that for the first time in a long while, Nigeria’s volume of transactions in the exchange market rose to $800 million. He stated this while addressing members of the House of Representatives at the sectoral debate on the economy. “We are not a … Read more
Nigeria’s inflation rate has continued to grow, reaching 28.92 percent in December 2023. According to a study provided by the National Bureau of Statistics (NBS), the headline inflation rate in December 2023 jumped to 28.92 percent, up from 28.20 percent in November 2023. It stated that the movement demonstrated a slight increase of 0.72 points … Read more