The National Bureau of Statistics (NBS) has reported a 28.98 per cent rise in the average cost of farm produce between January and May 2025, signalling a deepening crisis in Nigeria’s agricultural sector. According to the NBS, the price index for farm produce surged from 110.5 in January to 142.53 in May 2025. This sharp increase, particularly pronounced in May, …

Nigeria recorded N5.17 trillion trade surplus in the first quarter of 2025 (Q1’25). This represents a 52 per cent quarter-on-quarter (QoQ) rise when compared to N3.4 trillion recorded in Q4’24. On a year-on-year (YoY), basis, trade surplus grew by 17.5 per cent from N4.4 trillion in Q1’24. The National Bureau of Statistics (NBS), disclosed this yesterday in its Foreign Trade …

Nigeria’s imports from China surged to N14.15 trillion in 2024, more than doubling the N6.6 trillion recorded in 2023, data from the latest Foreign Trade Statistics report published by the National Bureau of Statistics (NBS) showed. This represents a year-on-year increase of N7.55 trillion or 114.3 per cent, reaffirming China’s position as Nigeria’s top import partner. On the export side, …

A report by the National Bureau of Statistics (NBS), said the inflation figure fell from the 24.48% recorded in January following the rebasing of Nigeria’s Consumer Price Index (CPI). The update of the CPI made 2024 the base year for price increment instead of 2009 practised before. The new figure still falls short of the 15% targeted by the federal …

Nigeria’s petrol imports surged in 2024, doubling despite an increase in domestic refining capacity, highlighting the country’s continued reliance on imported fuel, according to findings by The PUNCH. The latest data from the foreign trade statistics report of the National Bureau of Statistics (NBS) showed that the cost of petrol imports rose by 105.3 per cent to N15.42 trillion in …

Nigeria’s Gross Domestic Product (GDP) grew by 3.4 per cent in 2024 representing a 0.66 percentage point year-on-year( YoY) growth when compared to 2.74 per cent recorded in 2023. The improvement in GDP growth in 2024, followed the 3.84 per cent growth recorded in the fourth quarter, Q4’24, which represents 0.38 percentage points higher than the 3.46 per cent growth …

The National Bureau of Statistics (NBS) has announced that its official website has been compromised by unidentified hackers. This development was disclosed in a statement posted on the bureau’s official X (formerly Twitter) account on Wednesday. The NBS urged the public to disregard any information or reports shared on its behalf from unofficial sources until the website is fully restored. …

Nigeria’s annual inflation rate rose to 34.60 per cent in November from 33.88 per cent in October, the National Bureau of Statistics (NBS) said on Monday. This marks a continuation of the upward trend observed from September, when the nation recorded a reversal of a two-month decline. The statistics office said the November 2024 headline inflation rate showed an increase …

The Nigerian Railway Corporation (NRC) generated N1.70 billion from passengers in the third quarter of 2024, an increase of 13.83% from the N1.49 billion recorded in the same period last year. A report by the National Bureau of Statistics (NBS) said the money was collected from the 743,205 passengers that travelled via rail system, a 25.05 per cent increase from …

Nigeria exported N181.62 billion worth of electricity from January to September of 2024, analysis of data from the National Bureau of Statistics (NBS) has shown. A breakdown showed that N58.65 billion was exported to Togo, Benin and Niger Republic in the first quarter of 2024 followed by N63.28 billion in the second quarter and N59.69 billion in the third quarter. …