Inflation Rate Rises to 33.88% in October Nigeria’s headline inflation rate increased to 33.88% in October 2024, up from 32.7% in September 2024, reflecting a 1.18 percentage point month-on-month increase. This was contained in the National Bureau of Statistics (NBS) Consumer Price Index (CPI) report released...

Aviation Fuel Imports Decline by 8,000bpd The Dangote Petroleum Refinery has reduced the importation of aviation into Nigeria from 13,000 barrels per day in 2023 to 5,000bpd in 2024, a report by Energy Intelligence has said. According to the report, Dangote refinery is supplying the bulk...

NBS Reports 5kg Cooking Gas Price Hike to N6,699 in September The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from ₦6,430.02 recorded in August to N6,699.63 in September 2024. The NBS revealed this in its newly published report...

Nigeria’s Foreign Reserves Rose to $39bn in October – Cardoso The governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, says the country’s foreign reserves rose by 12.74 percent to $39.12 billion as of October 11. Cardoso spoke on Tuesday when he appeared before the house...

Nigeria's Capital Spending Decreases by 25.3% – CBN Nigeria’s capital expenditure for the first half of 2024 has declined by 25.3 per cent to N1.99tn, down from N2.68tn in the corresponding period last year. It was observed that this decline occurred despite the government operating four...

Nigeria’s Inflation Rate Rises to 32.7%  The National Bureau of Statistics (NBS) says the consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 32.7 percent in September. This is the first increase in three months after the...