In 12 Months, Food Imports Exceed Exports By N2.23trn   The total international trade in agricultural goods in the country stood at N3.24tn in 2021, with the import value exceeding export value by N2.23tn, findings have revealed. Despite interventions by the Federal Government to diversify the economy...

VAT Revenue Rises By 33% To N2.07trn   The National Bureau of Statistics (NBS) said the federal government generated N2.07 trillion as Value Added Tax (VAT) last year. This represents a 33 percent Year-on-Year (YoY) increase in VAT when compared to N1.55 trillion generated in 2020. Findings from...

Capital Importation Records $6.7bn, Suffers 30% Decline   The value of capital importation into Nigeria fell by 30.78 per cent from $9.68bn in 2020 to $6.7bn in 2021 according to data from the National Bureau of Statistics. In its ‘Nigerian Capital Importation’ report for the four quarters...

Report Says Nigeria Recorded N1.94trn Trade Deficit In 2021 Nigeria recorded N1.94tn foreign trade deficit in 2021, figures obtained from the National Bureau of Statistics revealed on Tuesday. According to its ‘Foreign trade in goods statistics Q4, 2021 report’, this was an improvement from N7.37tn trade...

Nigerian Insurance Sector Rebounds, Records 8.01% Annual Growth   The Nigerian insurance industry grew by 8.01 per cent in 2021, compared to a negative growth rate of 13.29 per cent in 2020, figures obtained from the National Bureau of Statistics have shown. The NBS, in its Gross...

Transport Fares Rise By 283% Amid Rising Fuel Subsidy A National Bureau of Statistics report shows that intra-city transport fares in Nigeria have increased by 283 per cent on the average amid the rising cost of fuel subsidy to the Federal Government. The average cost of...