Naira Appreciates By 23.5% Despite Rising Inflation   Despite Nigeria’s headline inflation rate nearing 30 per cent, the Naira appreciated 23.5 per cent leading to projections by experts that FX liquidity conditions are expected to remain tight, pending receipt of expected FX inflows. Nigeria’s headline inflation rate...

NBS: Nigeria’s Inflation Jumps to 28.20% in November Inflation surged to 28.20 per cent in November from 27.33 per cent in October, underscoring a worsening cost of living crisis in the country. In its new ‘Consumer Price Index: November 2023’ released on Friday, the National Bureau...

Manufacturing Sector Dominates Nigeria's Import Contributions with N3.9tn in Q3 of 2023   The manufacturing sector has topped the list of Nigeria's import contributions in the 3rd quarter of 2023. According to the National Bureau of Statistics (NBS) report, the manufacturing sector contributed the most to Nigeria's...

Nigeria’s Trade Surplus Rises 47%, Hits N1.88trn in 2023 Nigeria’s trade surplus improved further in the third quarter, Q3’23, rising 47 per cent, quarter on quarter, QoQ, to N1.88 trillion from N1.28 trillion in Q2’23. National Bureau of Statistics, NBS, disclosed this in it’s Foreign Trade...

NBS: Oil Revenue Rises 83% to N8.5tn in 2023 – Report National Bureau of Statistics says Nigeria's foreign trade in the third quarter of 2023 rose by 53.16 per cent year-on-year to N 18.80tn. This is as crude oil revenue surged by 83.23 per cent to...

Companies Raise Employees' Salaries by 18.35% in Six Months   To combat rising inflation in the country, companies increased the salaries of their staff members by 18.35 per cent to N29.45 trillion in the first six months of 2023. This is based on data from the National...