Nigeria’s GDP Grows by 2.98% in Q1 2024 – NBS The National Bureau of Statistics (NBS) says Nigeria’s gross domestic product (GDP) grew by 2.98 percent in the first quarter (Q1) of 2024. The growth rate, the bureau said, is higher than the 2.31 percent recorded...

Inflation: Imported Food Prices Rise 34% in One Year – NBS The National Bureau of Statistics says the average price of imported food commodities to Nigeria rose to its highest level, reaching 34 per cent in one year between April 2023 and April 2024. According to...

Pressure on Households as Food Inflation Rises to 40% Nigeria’s food inflation has continued on a steady rise, reaching 40.01 percent in March 2024 on a year-on-year basis, this is 15.56 percent higher compared to the rate recorded in March 2023 (24.45 percent) and 37.90...

Inflation Hits 33.20% in March - NBS 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,...

Manufactured Goods Imports Rise 269% to N9trn – NBS The value of manufactured goods imported into the country rose Year-on-Year (YoY) by 268.76 percent to N9.03 trillion in the fourth quarter of 2023 (Q4’23) from N2.45 trillion in the same period in 2022. The figure also...

Nigeria, Ethiopia, Others Record Fastest Rise In Food Inflation – World Bank Nigeria, Ethiopia, Malawi, Sierra Leone, and Zimbabwe are the sub-Saharan African (SSA) countries that recorded the fastest rise in food inflation in February this year, according to a new report by the World...