Railway Debt Servicing Rises by 1,200%, Exceeds Revenue – Report Railway debt servicing cost exceeded revenue by 1,208.5 per cent in the first half of 2023, an analysis of debt service documents has shown. In the first half of 2023, the government spent $38.59m (N29.98bn at...

Inter-city Travel Rises 62% in November - NBS The National Bureau of Statistics report shows that intercity bus travel cost jumped by 61.27 per cent in November when compared to the same period in the prior year. The NBS Transport Fare Watch report, indicated that the...

88% of Workers Self Employed - NBS Report Only 12 per cent of workers in Nigeria were in wage employment as of the end of the second quarter of 2023, the National Bureau of Statistics has disclosed. This is because 88 per cent of workers in...

Nigeria, China Trade Deficit Rises N7.54tn - NBS The trade balance between Nigeria and China increased to N7.54tn in the first nine months of 2023. According an analysis of data from the National Bureau of Statistics, the bilateral trade deficit in favour of China is widening,...

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...