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Petroleum products’ pump prices continue rise nationwide in May, as diesel records 86% increase — NBS
Latest Price Watch data released by the National Bureau of Statistics (NBS) has shown that May pump prices of the three major petroleum products continued to rise compared to same period last year. The NBS data disclosed that diesel recorded the…
Nigeria’s headline inflation hits 15.93% in May, as CPI rises by 140.7% in one month
National Bureau of Statistics (NBS) has disclosed that Nigeria’s headline inflation rate increased to 15.93 per cent year-on-year in May 2026, up from 15.69 per cent the previous month. The NBS Consumer Price Index (CPI) also rose from 138.3 per cent…
VAT receipts rise by 17% to hit N2.42trn in Q1 2026, as households, manufacturing, entertainment lead growth
Nigeria’s Value Added Tax (VAT) receipts grew to N2.42 trillion in the first quarter (Q1) of 2026, representing a 17.06 per cent increase from the N2.07 trillion generated in the corresponding period of 2025. This is also as overall VAT collections…
Nigeria may miss 2027 growth target as economic recovery remains slow
There are growing indications that Nigeria may fall short of the federal government’s ambitious target of achieving a 7 per cent economic growth rate by 2027, as the pace of recovery remains modest and the gap between current performance and…
Nigeria inflation jumps again as fuel, food costs climb
Nigeria’s inflation rate rose for the second consecutive month in April, driven largely by higher food and fuel prices linked to growing tensions in the Middle East. Data released by the National Bureau of Statistics on Friday showed that headline…
Nigeria’s oil output up in December; inflation down as CBN changes methodology
Sopuruchi Onwuka Nigeria’s oil production rose slightly in December, increasing to 1.50 million barrels per day (mbpd) from 1.49 mbpd in November. Output therefore matched the country’s OPEC+ quota of 1.50 mbpd. For 2025 as a whole, oil production averaged…
Inflation hits Nigerian kitchens with food price jumps
Sopuruchi Onwuka The inflationary trends in the domestic economy have drilled down to direct impact on low income families in the country, figures from the National Bureau of Statistics (NBS) have clearly indicated. The NBS indicated that inflation impacts on…
NBS lowers parameter for rating employment
Sopuruchi Onwuka Government has reduced the consideration for being categorized as employed in the country to near idleness as the country’s unemployment figures continues to global peak, insisting that about 75 percent of working age adults are employed in the…
