Inflation Increases to 34.19% Amid Soaring Food Prices Nigeria’s inflation rate increased to 34.19 percent in June 2024 from 33.95 percent in May. The data is captured in the National Bureau of Statistics (NBS) in its consumer price index (CPI) report for June, released on Monday. The...

Nigeria Records 87m Bribery Cases in 2023 - NBS According to the latest report from the National Bureau of Statistics (NBS), Nigeria has witnessed a significant decrease in bribery cases, with approximately 87 million bribes paid in 2023, compared to 117 million in 2019. This...

Nigeria’s Money Supply Nears N100trn in May Nigeria’s money supply (M3) has surged to nearly N100 trillion, hitting a new peak of N99.24 trillion in May 2024. The latest money and credit statistics data from the Central Bank of Nigeria (CBN) reveals a month-on-month (M-o-M) increase...

Nigeria Exports N58.65b Electricity in Q1 2024 In the First Quarter 2024 Q1, Nigeria exported N58.65 billion electrical energy to African countries. The National Bureau of Statistics (NBS) made this known in its document titled: “Foreign Trade in Goods Statistics (Q1 2024).” A section of the report...

Nigeria Recorded N1.43tr VAT in Q1 The National Bureau of Statistics (NBS) said the aggregate Value Added Tax (VAT) stood at N1.43 trillion in Q1 2024. This is according to the VAT Q1 2024 Report released in Abuja on Tuesday. The report shows a growth rate of...

He noted that the relevant section of the Cybercrime Act is very clear about the businesses that are required to pay the levy, not the citizens.