President Bola Tinubu has welcomed the new report of the National Bureau of Statistics (NBS) on the country’s trade balance. According to the report, Nigeria recorded another trade surplus in the second quarter of 2024, hitting N6.95 trillion. The current surplus is 6.60% higher than the N6.52 trillion surplus recorded in the first quarter. Just days after the country recorded …

Nigeria’s inflation rate rose from 18.6 percent  to 19.64 percent within a month, according to the National Bureau of Statistics (NBS). The 1.82 percent leap is an all-time high in 17 years, which the bureau blamed on rising food prices and other Consumer Price Index (CPI). Also listed as contributors were the increases in the costs of gas and liquid/solid …

Nigeria’s Gross Domestic Product grew by 3.11 per cent in the first quarter of 2022 as the economy continues to show resilience in the face of weak global outlook. In its GDP report released on Monday, the National Bureau of Statistics stated that the figure shows the sixth consecutive quarter of positive growth. The first quarter 2022 growth rate represented …