Raw Materials Import Declines By 22.36% To N1.88trn - NBS   Manufacturers spent N1.88tn on raw materials import in nine months, foreign trade reports of the National Bureau of Statistics (NBS) have shown. The Q1-Q3 foreign trade reports indicated that manufacturers imported raw materials worth N1.88 bn...

Nigeria’s Import From Russia Plunges By 92%   Nigeria’s import from Russia has crashed significantly, hitting its lowest this year, as the war in Ukraine persists. The foreign trade report of the National Bureau of Statistics for the third quarter of 2022 released last week showed that...

Nigeria Imports N512bn Of Agricultural Produce In Q3, 2022   The value of agricultural imports in Nigeria has increased to N512.91bn, the National Bureau of Statistics (NBS) has disclosed. The NBS in a report released yesterday stated that the figure was an increase of 10.44 per cent...

Report Reveals Nigerians Paid N2trn Indirect Taxes In Nine Months   Amid an economic downturn and rising inflation, the tax burden on Nigerians in the first nine months of 2022 increased by N285.13bn. This is as Nigerians paid N2.01tn in indirect taxes in the period under review,...

Insurance Sector Records 28% Growth In Q3, 2022   Insurance sector recorded 28.26 per cent growth in the third quarter of 2022, according to figures obtained from the National Bureau of Statistics. The NBS stated in its ‘Nigerian Gross Domestic Product report Q3, 2022’, that the finance...

Rising Inflation Drives Consumption Expenditure To N57trn In H1, 2022   Rising inflation drove Nigerians’ consumption expenditure to N57.08trn in the first half of 2022. This is a 14.39 per cent increase from the N49.89tn that was spent in the corresponding period of 2021, according to the...