Friday, August 6

Tag: National Bureau Of Statistics

FG, States’ Debt Profile Rise To ₦32.92 Trillion – NBS
Politics

FG, States’ Debt Profile Rise To ₦32.92 Trillion – NBS

Nigeria’s total public debt portfolio as at Dec. 31, 2020, stood at N32.92 trillion, the National Bureau of Statistics (NBS) reveals. It made the revelation in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020, obtained from its website on Monday in Abuja. It added that the debt profile was for the States and the Federal Government. According to the bureau, Nigeria’s total public debt showed that N12.71 trillion or 38.60 per cent of the debt was external, while N20.21 trillion or 61.40 per cent of the debt was domestic. “Further disaggregation of Nigeria’s foreign debt showed that 17.93 billion dollars of the debt was multilateral, 4.06 billion dollars was bilateral from the African Development Bank (AfDB), Exim Bank of China, Japan International Cooperat...
Recruit 50 Million Youths Into Army To Fight Insecurity – Tinubu To FG
Politics

Recruit 50 Million Youths Into Army To Fight Insecurity – Tinubu To FG

All Progressives Congress chieftain, Bola Tinubu, on Monday, urged the Federal Government to recruit at least 50 million youths into the Nigerian Army to boost Nigeria’s fight against terrorism, banditry and all forms of internal and external security threats confronting the nation. Tinubu spoke at the 12th colloquium to celebrate his 69th birthday in Kano State. He said, “We are under-policed and we are competing with armed robbers and bandits to recruit from the youths who are unemployed —33 per cent unemployed?” “Recruit 50 million youths into the army,” he stated, adding that “what they will eat —cassava, corn, yam, will grow here.” The APC chieftain, while reacting to recent statistics by the National Bureau of Statistics that over 23 million Nigerians are jobless, als...
Food Inflation Rises To 21.79% In February 2021 (Highest In 15 Years)
News

Food Inflation Rises To 21.79% In February 2021 (Highest In 15 Years)

Nigeria’s food inflation rate surged to 21.79% in February 2021, which is the highest rate recorded in Nigeria since October 2005—exactly 15 years and 4 months ago. The February 2021 CPI and Inflation Report as released by the National Bureau of Statistics (NBS) revealed that the rise in the food index was caused by increases recorded in the prices of bread and cereals, potatoes, yams, and other tubers. Also, the increase in the prices of meat, food products, fruits, oil, and fats, vegetables, and fish contributed to the recorded spike in the food inflation rate. The persistent increase in inflationary pressure, especially food inflation, can be attributed to the closure of land borders in 2019 which was further affected by the outbreak of the covid-19 pandemic in 2020. A c...
Active Voice Subscribers Declined By 0.32% In Q4 2020 – NBS
News

Active Voice Subscribers Declined By 0.32% In Q4 2020 – NBS

A total of 204,601,313 subscribers were active on voice as against 205,252,058 in Q3 2020. This represented a -0.32% decrease in voice subscriptions Quarter-on-Quarter. The National Bureau of Statistics (NBS) disclosed this in its latest Telecoms data for Q4 2020 report released on Thursday. Similarly, a total of 154,301,195 subscribers were active on the internet as against 151,512,122 in Q3 2020. This represented a 1.84% growth in internet subscriptions QoQ. Further Breakdown: - Lagos State has the highest number of subscribers in terms of active voice per State in Q4 2020 and is closely followed by Kano and Ogun States - Bayelsa and Ebonyi States have the least number of subscribers. - Lagos State has the highest number of subscribers in terms of active internet pe...
Nigeria’s Unemployment Rate Jumps From 27.1% In Q2 2020, 33.3% In Q4 2020
News

Nigeria’s Unemployment Rate Jumps From 27.1% In Q2 2020, 33.3% In Q4 2020

Freshly released Q4 2020 labour force statistics by the National Bureau of Statistics (NBS) showed that Nigeria’s labour force (unemployment rate) increased by 33.3% in Q4 2020 from 27.1% in Q2 2020. Only 46,488,079 were employed at the time of the survey, while the number of people in the labour force was estimated to be 69,675,468. In the case of unemployment by state, Imo State recorded the highest rate of unemployment with 56.64%. This was followed by Adamawa with 54.89% and Cross Rivers State with 53.65%. The States with the lowest rates were Osun, Benue and Zamfara States with 11.65%, 11.98% and 12.99% respectively. In the case of underemployment, Benue State recorded the highest rate with 43.52%, followed by Zamfara and Jigawa States with 41.73% and 41.29% respectively...
Nigerian Cleantech Startup, Havenhill, Raises $4.6 Million Funding
Business, Tech

Nigerian Cleantech Startup, Havenhill, Raises $4.6 Million Funding

Nigerian cleantech startup, Havenhill Synergy Limited, has raised $4.6m from Chapel Hill Denham Nigeria Infrastructure Debt Fund (NDIF) to aid the construction of 22 smart solar mini-grids in Nigeria. Founded in 2010 by CEO Olusegun Odunaiya, Havenhill focuses on improving access to electricity in rural areas using mini-grids. The company also offers renewable energy services for businesses in Nigeria’s industrial and commercial hubs. Havenhill’s solar mini-grid solution promises to connect up to 70,000 people as well in establishments in various communities to clean and reliable energy. In a statement, the NDIF asserts that the recent funding round was in line with the Nigeria Electrification Project. According to the National Bureau of Statistics (NBS), access to electric...
26 Nigerian States Record Zero Foreign Investment In 2020
Politics

26 Nigerian States Record Zero Foreign Investment In 2020

Twenty-six Nigerian states recorded zero foreign investment in the whole of 2020, figures released by the National Bureau of Statistics show. The report on capital importation into the country, compiled by the Central Bank of Nigeria, was released on Friday by the NBS. It captures the total Foreign Direct Investment (FDI), portfolio investment and other types of investments into the country in a year the global economy suffered a terrible battering as a result of the coronavirus pandemic. The total value of capital inflow for the year fell to $9.7 billion, from $24 billion in 2019, representing a decline of 59.7 per cent. It was the lowest in at least four years. More foreign capital inflows came through “other investments”, followed by FDI, and Portfolio Investment, the re...
VAT: FG Rakes In ₦24.8 Billion From Bank Customers – National Bureau of Statistics
Business

VAT: FG Rakes In ₦24.8 Billion From Bank Customers – National Bureau of Statistics

The Federal Government realised a total of N24.8 billion as Value Added Tax (VAT) from banks transactions throughout last year, New Telegraph has learnt. According to the sectoral VAT distribution data released by the National Bureau of Statistics (NBS), this showed that VAT generated from the sector increased by 44 per cent from N17.2 billion recorded in 2019. In accordance with Value Added Tax Act (Cap V1 LFN 2004), all banks and financial institutions, except those exempted, are required to charge VAT on services rendered by them to their customers and account for the same to the Federal Inland Revenue Service (FIRS). Recall that the banks had, early last year, adjusted VAT charges upward in compliance with the Federal Gov-ernment’s policy which jerked up the consumption tax from...
1,236 Nigerians Die In Road Accidents In Q3 2020 – NBS
News

1,236 Nigerians Die In Road Accidents In Q3 2020 – NBS

The road transport data (Q3 2020) report by the National Bureau of Statistics (NBS) data revealed that 3,066 road crashes occurred in the third quarter of 2020. Major cause of road crashes According to the statistics bureau, speed violation is reported as the major cause of road crashes in Q3 2020 and it accounted for 57.26% of the total road crashes reported, Wrongful overtaking followed closely as it accounted for 7.11% of the total road crashes recorded while Dangerous Overtaking recorded the least of the total road crashes reported. People Killed? Similarly, a total of 1,236 Nigerians got killed in the road traffic crashes recorded in Q3 2020. Out of the total Nigerians that got killed, 1,176 are adults representing 95% of the figure while the remaining 60 Nigerians are...
2021 Budget Not Capable Of Addressing Nigeria’s Recession – Reps
Politics

2021 Budget Not Capable Of Addressing Nigeria’s Recession – Reps

House of Representatives Commitee on Science and Technology Monday said that the 2021 budget as presented by President Muhammadu Buhari was incapable of lifting Nigeria from the current economic recession. It will be recalled that Buhari in early October this year presented 2021 budget estimate of N13.08 trillion to the national assembly for approval. Last Saturday, the National Bureau of Statistics, NBS, announced that Nigeria had slid into recession, the second time in five years. Sharing his views on the budget at a session, a member of the committee, Hon. Awaji-Inombek Abiante from Rivers State said the documents had allocation flaws that should be corrected. His dissatisfaction however followed the absence of the Minister of Finance, Zainab Ahmed and the Director-Gener...
Nigeria Generated ₦424.71 Billion VAT In Q3 – NBS
News

Nigeria Generated ₦424.71 Billion VAT In Q3 – NBS

The National Bureau of Statistics on Monday said the sectoral distribution of Value Added Tax data for the third quarter of 2020 reflected that the sum of N 424. 71 bn was generated as VAT in Q 3 2020. This was against N 327.20 bn generated in Q 2 2020 and N 275.12 bn generated in Q 3 2019. It said the third quarter VAT represents 29. 8 per cent increase quarter-on-quarter and 54.37 per cent increase year-on- year. “Other manufacturing generated the highest amount of VAT with N 47.07 bn generated, ”the bureau said in its report. This, it said, was closely followed by professional services, which generated N 44.01 bn. It said commercial and trading generated N 21.18 bn, while mining generated the least. Mining was closely followed by textile and garment industry and ph...
Lagos, Rivers, FCT, Ogun Earned More Than Other 33 States combined 2020 – NBS
News

Lagos, Rivers, FCT, Ogun Earned More Than Other 33 States combined 2020 – NBS

The index in Tuesday's report revealed that the IGR of Lagos State, put at N204 billion, is higher than that of at least 29 states put together. The quartet of Lagos, Rivers, the FCT and Ogun State raked in a total internally generated revenue more than all other 33 states of the federation combined in the first half of 2020, the National Bureau of Statistics (NBS) said. The NBS said the 36 states of the federation and federal capital territory generated N612.87 billion in the first half of 2020. Of the total amount, the aforementioned states and the capital city earned N335 billion, equivalent to 54 per cent. Other states made a total of N277 billion (46 per cent). The index in Tuesday’s report revealed that the IGR of Lagos State, put at N204 billion, is higher than that of...
Nigerians Are Taking Loans To Buy Food As 68% Of Households Suffer Food Insecurity – NBS
News

Nigerians Are Taking Loans To Buy Food As 68% Of Households Suffer Food Insecurity – NBS

The National Bureau of Statistics (NBS) says 68 percent of Nigerian households experienced moderate or severe food insecurity in August as a result of the COVID-19 pandemic. According to the national longitudinal survey on the socio-economic effects of COVID-19 on Nigerian households, conducted by the bureau in August, 51 percent of households used loans taken after the pandemic began to pay for food items. “About one in four households were already indebted prior to the pandemic while nearly one-third have taken out new loans since the onset of the pandemic,” the report read. “The food security situation in Nigeria remains precarious, even as the lockdown restrictions continue to be loosened,” “The share of households experiencing moderate or severe food insecurity remaine...
Nigeria’s Unemployment Rate Rises To 27.1% – NBS
News

Nigeria’s Unemployment Rate Rises To 27.1% – NBS

The National Bureau of Statistics has finally released data on the nation’s unemployment rate after an 20-month interval, saying the unemployment rate rose to 27.1 per cent in the second quarter of 2020 from the 23.1 per cent recorded in Q3 2018. The NBS, in its ‘Labor Force Statistics: Unemployment and Underemployment Report’ released on Friday, said underemployment rate increased from 20.1 per cent in Q3 2018 to 28.6 per cent in Q2 2020. It said, “For the period under review, Q2 2020, the unemployment rate among young people (15-34 years) was 34.9 per cent, up from 29.7 per cent, while the rate of underemployment for the same age group rose to 28.2 per cent from 25.7 per cent in Q3 2018. “These rates were the highest when compared to other age groupings.” The NBS said th...
4 In 10 Nigerians Lost Their Jobs In April Amid Coronavirus Crisis – NBS
News

4 In 10 Nigerians Lost Their Jobs In April Amid Coronavirus Crisis – NBS

Not less than 42% Nigerians who were working before the outbreak of coronavirus in the country lost their jobs due to the impact of COVID-19, in April, an NBS survey found. This estimate includes respondents in the poorest households, where about 5 in 10 (45 per cent) stopped working due to COVID-19, and the wealthiest households, where about 4 in 10 (39 per cent) lost their jobs. The former bracket is where Folarin Adewole belongs. He said he was one of the outsourced staff laid off by Access Bank last month. Although he received full payment for May, he said he “feels bad and very unusual” that that might be his last. The National Longitudinal Phone Survey (NLPS) on the socioeconomic effects of COVID-19 on Nigerian households was conducted between April 20 and May 11, a time ...
N4.5tr Budget Deficit May Trigger Fresh Recession – Finance Minister, Zainab Ahmed Warns
Politics

N4.5tr Budget Deficit May Trigger Fresh Recession – Finance Minister, Zainab Ahmed Warns

With the deficit financing of the revised N10.509 trillion 2020 budget rising from N1.847 trillion to N4.563 trillion, the economy might be heading for another recession, the Minister of Finance, Budget and National Planning, Zainab Ahmed, has warned. She expressed the fear yesterday in Abuja during a session with the Senate Committee on Finance where heads of revenue-generating agencies made presentations on the revised 2020-2022 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP). The minister noted that projected revenues from the agencies had been drastically slashed. According to her, 77 per cent of the new financial expectations from sources like the Nigerian National Petroleum Corporation (NNPC), the Federal Inland Revenue Service (FIRS) and the...
Nigerians Spent ₦4.6 Trillion Eating Out In 2019
News

Nigerians Spent ₦4.6 Trillion Eating Out In 2019

Nigerians spent N4.598 trillion on food consumed outside the home, the National Bureau of Statistics has revealed. This is the highest share of expenditure on food and on general food and non-food expenditure in the country for the year 2019. Most of the nation’s expenditure came in from Lagos, Oyo, Delta, Rivers, and Kano states — making up 33.71 percent of total national expenditure, while Taraba, Ebonyi, Nasarawa, Yobe, and Gombe, account for less than five percent. The FCT and 31 states account for 66.29 percent of the nation’s spending. “At the national level the total household expenditure on food and non-food for 2019 was N40,207,388,459,367 (N21,620,601,543,613.90 in 2009/10),” the NBS consumption expenditure pattern for 2019, read. “Of this total, 56.65% (60.2% in...
Nigeria-China Trade Suffers As Coronavirus Limits Travel
Business

Nigeria-China Trade Suffers As Coronavirus Limits Travel

Recent data from the National Bureau of Statistics (NBS) showed that the value of Nigeria’s total trade stood at N9.19 trillion in the third quarter of 2019, being exports worth N5.29 trillion and imports worth N3.89 trillion. However, the recent coronavirus outbreak in China, a country which is Nigeria’s number one trading partner in the world, is threatening the continued positive trade balance of N1.39 trn Nigeria recorded from the country in the third quarter of 2019. Most traded agricultural goods between the two countries included sesamum seeds, whether or not broken; good fermented Nigerian cocoa beans; cashew nuts (shelled); superior quality raw cocoa beans; frozen shrimps and prawns; natural cocoa butter and cashew nuts (in shell). The two countries have separately called o...
Nigerians Pay N400 Billion Bribes Annually – ICPC Official
News

Nigerians Pay N400 Billion Bribes Annually – ICPC Official

An official of the Independent Corrupt Practices and other related offences Commission (ICPC) said Nigerians pay an estimated N400bn annually as bribes to obtain public services. The Principal Investigator at the Anti-Corruption Academy of Nigeria (ACAN), the research and training arm of ICPC, Suleiman Suleiman, said this on Tuesday. He spoke at the stakeholders meeting on Nigeria Corruption Index (NCI), and presentation of a policy brief on Eradication of Electoral Corruption Awareness Survey in Abuja. Mr Suleiman, who is also a research fellow at ACAN, said 32.3 per cent of Nigerian service users pay a bribe across key sectors/services and regions. He quoted the PricewaterhouseCoopers (PWC) 2016 data that estimated that corruption will wipe off 37 per cent of Nigeria’s GD...
Alcohol Consumption In Nigeria Per Geopolitical Zone – NBS
News

Alcohol Consumption In Nigeria Per Geopolitical Zone – NBS

Alcohol consumption is a big business in Nigeria with consumers spending just less than a quarter of a trillion naira in 2016. According to the latest data from the nation’s statistics bureau, in 2016 alone, Nigerians spent at least N208 billion on alcohol – this amount was more than the budget of Ondo State for that year. A breakdown of the nation’s sobriety pattern shows the South South zone is the least restrained community of alcohol consumers. There, N74.4 billion was spent on alcohol, making the states of Delta, Edo, Bayelsa, Rivers, Akwa Ibom, and Cross Rivers the section of the country inhabiting the most enthusiastic drinkers in the year. The seven states of Jigawa, Kaduna, Katsina, Kebbi, Kano, Sokoto, and Zamfara, making up the North West zone, comparatively have the m...
Nigerians Paid Less For Cooking Gas In April 2019 – NBS
News

Nigerians Paid Less For Cooking Gas In April 2019 – NBS

The price of cooking gas in Nigeria decreased by -0.87% month-on-month and decreased by -0.57% year-on-year, a National Bureau of Statistics, NBS, report has shown. The report titled, Liquefied Petroleum Gas, LPG, (Cooking Gas) price watch, was published on Tuesday by the bureau. The average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -0.87% month-on-month and -0.57% year-on-year to N2,046.53 in April 2019 from N2,064.45 in March 2019. “States with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Bauchi (N2,513.33), Adamawa (N2,375.00) and Borno (N2,362.50)”. “States with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cookin...
Akwa Ibom, Rivers Top States With High Unemployment Rate In 2018 3rd Quarter – NBS
News

Akwa Ibom, Rivers Top States With High Unemployment Rate In 2018 3rd Quarter – NBS

The National Bureau of Statistics (NBS) said Akwa Ibom State reported the highest unemployment rate of 37.7 per cent in third quarter 2018. NBS said this in its Labour Force Statistics – Volume 2: Unemployment and Underemployment by State for Third Quarter, 2018 posted on its website. The bureau said Rivers was the second highest reported unemployment rate with 36.4 per cent followed by Bayelsa with 32.6 per cent. Also, Abia recorded 31.6 per cent and Borno reported 31.4 per cent unemployment rate in the quarter under review. The report said the top five states with the highest unemployed population were Rivers (1,673,991), Akwa Ibom (1,357,754), Kano (1,257,130), Lagos (1,088,352) and Kaduna with (940,480). It said among these five states with the highest unemployed populat...
Cars On Nigerian Roads Hit 11.8 Million In One Year
News

Cars On Nigerian Roads Hit 11.8 Million In One Year

The National Bureau of Statistics (NBS) in its latest figures indicated that there were about 11.8 million licensed cars on Nigeria’s roads as at Q4 2018, compared to 11.6 million in the corresponding period of 2017. According to the report, Nigeria witnessed a 2 per cent increase in the number of licensed cars Year- on -Year; that is between Q4 of 2018 and Q4 2017, respectively. The NBS report disclosed that as at Q4 2018, commercial cars recorded the highest numbers of licensed cars on Nigeria’s roads, having made up 41% of the total cars. Diplomatic cars recorded the least number of licensed cars, constituting of just 0.05% of the total licensed cars in Nigeria. “With an estimated population of 198 million, Nigeria’s vehicle per population ratio is 0.06. Similarly, the B...
Presidency Lists 10 Things To Know About Nigeria’s Rising Economy
Politics

Presidency Lists 10 Things To Know About Nigeria’s Rising Economy

Below is a statement from the Nigerian Presidency signed by Spokesman, Femi Adesina; "The Fourth Quarter 2018 Gross Domestic Product (GDP) results released recently by the National Bureau of Statistics (NBS) give lots of cause to cheer. Below are salient points to note from the report, as the Muhammadu Buhari administration puts the Nigerian economy on firm, solid footing: 1. The economy has recorded continued progress since it emerged from recession in 2017. Current result shows a Real GDP growth of 2.38% compared to 1.81% in Q3 last year, representing the strongest growth since the economy slipped into recession in 2016. 2. For more than five decades, Nigeria has paid lip service to diversifying the economy, from sole dependence on oil. The latest result shows that econom...
Nigeria’s Economy Attracted $16.8bn Investment Inflow In 2018 – NBS
Uncategorized

Nigeria’s Economy Attracted $16.8bn Investment Inflow In 2018 – NBS

The National Bureau of Statistics on Wednesday released the Capital Importation report for 2018 with the economy attracting a total investment of $16.81bn during the period. The bureau in the report stated that the total value of capital importation into Nigeria stood at $2,140.08 million in the fourth quarter of 2018. This represents a decrease of 25.05% compared to Q3 2018 and 60.24% decrease compared to the fourth quarter of 2017. Similarly, the total value of capital importation into Nigeria stood at $16,812.47 million in 2018 compared to $12,228.57 million capital imported in 2017. This represents 37.49% growth YoY. The largest amount of capital importation by type was received through Portfolio investment, which accounted for 70.20% ($11,802.27m) of total capital importatio...
Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working – FG
Politics

Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working – FG

OFFICE OF THE VICE PRESIDENT PRESS RELEASE STRONG MOMENTUM & CONTINUOUS GROWTH IN ECONOMY FURTHER SHOW BUHARI ADMINISTRATION'S POLICIES WORKING *2018 overall reflects sustained improvement in non-oil sector In what is a clear indication of the effectiveness of the economic policies of the Buhari presidency, Nigeria's Gross Domestic Product (GDP) figures recorded a marked improvement in the fourth quarter of 2018. According to the National Bureau of Statistics, NBS, the GDP figure for the last quarter in 2018 is 2.38 per cent, reflecting continuous growth. Below is a statement released in response to the new GDP figure by the Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu: "The latest figures released by the National Bureau of Statistics...
Despite Fight, Corruption Still Thrives In Nigeria, NBS Says
News

Despite Fight, Corruption Still Thrives In Nigeria, NBS Says

Corruption, which Nigerian President Muhammadu Buhari said he came into office to fight, is flourishing under his nose, with the Federal capital territory recording the highest number of cases, according to data released by the National Bureau of statistics, covering year 2016. NBS data show that corruption cases increased in about 15 states in the country, while only about six and two states reported a decline and zero in the number of corruption cases, respectively. Abuja, the capital city of the country where major political and administrative activities hold, had the highest number with 657 reported cases in that year, according to the report. Abuja was followed by Lagos and Kaduna, with each reporting over a 100 cases, according to a graphical representation by the NBS, as th...
Prices Of Food Stuff Decreased In November – NBS
News

Prices Of Food Stuff Decreased In November – NBS

The National Bureau of Statistics (NBS) said the average price of some selected food items in the country decreased in November. Tomatoes NBS disclosed this on Friday in its November “Selected Food Price Watch’’ report released in Abuja. It said the average price of one dozen of medium sized agric egg decreased from N482.9 in October to N477.76 in November. The bureau said price of a dozen of medium sized egg increased year-on-year by 3.16 per cent and month-on-month by -1.06 per cent in the period under review. It said the average price of a piece of medium sized agric egg decreased year-on-year by 3.89 per cent and increased month-on-month by 1.62 per cent to N42.40 in November from N41.73 in October. According to the report, the average price of one kilogramme of tom...
Ezekwesili Reacts To NBS Confirmation That 21 Million Nigerians Are Unemployed
Politics

Ezekwesili Reacts To NBS Confirmation That 21 Million Nigerians Are Unemployed

The presidential candidate of the Allied Congress Party of Nigeria (ACPN), Dr. Obiageli Ezekwesili, has assured Nigerians that the increasing rate of unemployment in the country would stop if she emerged as the President. In a press statement issued on Thursday in reaction to the recent data released by the Nigerian Bureau of Statistics (NBS), she warned Nigerians against voting for “candidates that have no idea of how to solve the challenges facing the country.” The ACPN presidential candidate reiterated that no fewer than 80 million Nigerians would be lifted out of poverty by her administration. She said that her administration would implement a productivity and competitiveness initiative that would create new opportunities and jobs in some key sectors. Among the sectors ...
‘It Feels Like There Is No Hope’: Nigeria’s Worsening Job Crisis – AlJazeera
News

‘It Feels Like There Is No Hope’: Nigeria’s Worsening Job Crisis – AlJazeera

There has been one single promise that has dominated the election manifestos of Nigeria's presidential candidates as they seek to lure the support of the country's voters ahead of polls in February: jobs, jobs and more jobs. This has also been the one issue that has consumed Immaculate Uba, who lost her bank job two years ago. "It has been a horrible experience I never expected in my life - knowing fully well that you are willing and able to work but can't secure a job," she told Al Jazeera in Nigeria's capital, Abuja. "I am still searching for a paid job," she says. In the meantime, she adds, she's trying to make a living by doing bead- and shoe-making work. Shrinking opportunities Four out of every 10 people in the country's workforce are either unemployed or underemploy...
Price Of Cooking Gas, Diesel, Kerosene Increased In October – NBS
News

Price Of Cooking Gas, Diesel, Kerosene Increased In October – NBS

The National Bureau of Statistics, NBS, said the average price paid by consumers for premium motor spirit (petrol) increased by 0.8% year-on-year and decreased by -0.1% month-on-month. According to the reports made available to Brand Spur Nigeria by the National Bureau of Statistics (NBS), the price of petrol decreased to N147.20 in September 2018 from N147.30 in August 2018. The report reviewed states with the highest average price of premium motor spirit (petrol) to include Kebbi (N155.24), Benue (N153.33) & Taraba (N153.00). It also named KatsinaN143 (N144.45), Jigawa N144.29) & Sokoto (N144.20) as states with the lowest average price of premium motor spirit (petrol). According to the report, the average price paid by consumers for automotive gas oil (diesel) increased...
NBS: Price Of 1kg Of Yam Increases By 7.10 Percent In February
News

NBS: Price Of 1kg Of Yam Increases By 7.10 Percent In February

The National Bureau of Statistics (NBS) says average price of one kilogramme (kg) of yam tuber increased year-on-year by 7.10 per cent in February. The NBS disclosed this in a Selected Food Price Watch Data for February published on its website. The bureau said that one kg of yam also increased by 1.92 per cent month-on-month from N226.51 in January to N230.85 in February. The report stated that average price of one dozen of Agric eggs medium size decreased year-on-year by 0.21 per cent and month-on-month increased by 18.75 per cent. According to the report, the price increased from N437.13 in January to N519.07 in February. In addition, it said the average price of a piece of Agric eggs medium size (price of one) decreased year-on-year by -3.81 per cent. It noted that th...
Inflation Rate Drops To 15.13 Percent – NBS
News

Inflation Rate Drops To 15.13 Percent – NBS

The National Bureau of Statistics (NBS) says the inflation rate, measured by the Consumer Price Index (CPI), has further dropped to 15.13 per cent in January from 15.37 per cent recorded in December, 2017, The NBS disclosed this in its CPI report for January 2018 released on Wednesday in Abuja. The Consumer Price Index (CPI), which measures inflation, started the year 2018 increasing by 15.13 per cent (year-on-year) in January 2018 According to the bureau, this is 0.24 per cent points lower than the rate recorded in December (15.37 per cent). It stated that the rate recorded made it the twelfth consecutive disinflation (slowdown in the inflation rate though still positive) in headline year-on-year inflation since January 2017. It, however, stated that increases were recorded...
No Data To Back Chris Ngige’s 7 Million New Jobs Claim – NBS
Uncategorized

No Data To Back Chris Ngige’s 7 Million New Jobs Claim – NBS

The statistician general of the federation, Yemi Kale, says the National Bureau of Statistics (NBS) has no data on the job creation claims made by Chris Ngige, minister of labour and productivity. The data chief made this statement in an interview with Abang Mercy. Ngige had earlier said the Muhammadu Buhari-led administration has created seven million jobs through its programmes. But Kale said during the interview: “We don’t have the data anyway, that data of is 6 or 7 million, we don’t have that. I can’t comment on what other data users or data producers say but I can comment on what we produce here as the official source of data. “We have not produced any data on job creation, we produced data on people that were unemployed at the particular time and that is what we are stic...
Nigeria: Transport Fare Increased By 23.99 Percent In December – NBS
News

Nigeria: Transport Fare Increased By 23.99 Percent In December – NBS

The National Bureau of Statistics(NBS) says the average transport fare paid by commuters across the country increased by 23.99 percent in December 2017. The Bureau disclosed this in its monthly Transport Fare Watch released on Wednesday. It said the average fare for bus journey within the cities across Nigeria increased by 23.99% month-on-month and 14.78% year-on-year to N171.34 in December 2017 from N138.19 in November 2017. The Transport fare watch report for December 2017 covers several categories, namely: bus journey within the city per drop constant route ; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and waterway passenger transport. According to the statistical office, States w...
Petrol Price Increases By 17.10% in December 2017 – NBS
News

Petrol Price Increases By 17.10% in December 2017 – NBS

The National Bureau of Statistics (NBS) has said that the average price of Premium Motor Spirit (PMS), otherwise known as petrol, increased by 17.10 percent year-on-year in December 2017. It also stated that average price also increased by 17.98 percent  month-on-month to N171.8 in December 2017 from N145.6 in November 2017. The Bureau disclosed this in its Premium Motor Spirit (Petrol) Price Watch and National Household Kerosene price watch for December. According to the stats office, states with the highest average price of premium motor spirit (petrol) were Abia (N220.4), Kebbi (N210.08) and Anambra (N210). It reported further that states with the lowest average  price of premium motor spirit (petrol were Ekiti (N146), Abuja FCT (N146.53) and Lagos (N149.83). The stats of...
News

Why Nigerian Economy Will Do Better In 2018 — Udoma

The Minster of Budget & National Planning, Udo Udoma, has said that Nigeria’s economic outlook for 2018 is looking positive due to the huge potentials available as a result of the various initiatives by government to sustain growth since its exit from recession. The Minster who spoke at the 2018 Economic Outlook Forum of the Redeemed Christian Church of God (RCCG), Kings Court Parish, in Lagos on Saturday, said the positive sentiment was shared by most international and local rating agencies. Mr. Udoma said the country’s economy would be significantly better during the year going by the positive trend in key indicators since the country emerged from recession in the second quarter of last year. The growth, he pointed out, would create opportunities for investment in areas such...
Nigeria Records 140 Million Voice, 93 Million Internet Subscriptions In Q3 – NBS
News

Nigeria Records 140 Million Voice, 93 Million Internet Subscriptions In Q3 – NBS

Nigeria recorded a total of 140 million active voice subscriptions and 93.26 million active Internet subscriptions in the third quarter of 2017. The National Bureau of Statistics, NBS, said this in a report on “Telecoms Data: Active Voice and Internet per State, Porting and Tariff Information for the Third Quarter of 2017’’ posted on its website. The bureau said that total active voice subscriptions fell by 8.73 per cent from third quarter 2016, and by 2.21 per cent from second quarter of 2017. It, however, stated that total active internet subscriptions increased by 1.22 per cent from third quarter 2016 and declined by 0.55 per cent from second quarter, 2017. According to the report, both voice and internet communication subscriptions in third quarter, 2017 were dominated by G...
NLC To Nigerian Govt: 2017 One Of The Most Difficult Years For Nigerians
News

NLC To Nigerian Govt: 2017 One Of The Most Difficult Years For Nigerians

The Nigeria Labour Congress, NLC, on Sunday listed the various challenges and successes of the Nigerian government in 2017 as they affect workers. The NLC in a New Year message by its president, Ayuba Wabba, said 2017 “proved to be one of the most difficult for most Nigerians in recent history.” The congress listed some of the challenges as non-payment of workers and pensioners’ entitlements, fuel scarcity, and absence of a reviewed minimum wage. “We call on the federal government to therefore take further bold measures to address the above mentioned challenges to enhance an improved situation in these areas in 2018,” Mr. Wabba said in the message sent to PREMIUM TIMES. Read the full statement by Mr. Wabba below. WE SHALL HOLD GOVERNMENT ACCOUNTABLE IN THE NEW YEAR Being the text of ...
2018: President Buhari Promises Major Facelifts In Power, Rail, Roads
News

2018: President Buhari Promises Major Facelifts In Power, Rail, Roads

The Presidency on Saturday raised the hopes of Nigerians in the New Year with a pledge to ensure major facelifts in power, rail and roads, based on the present administration’s investment in infrastructure. The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said this in a statement. Adesina listed some of the achievements of the present administration in the outgoing year and concluded that President Muhammadu Buhari had done well. “President Buhari’s investment in infrastructure will see major facelifts across the country in power, rail and roads, which have been scheduled to come on stream in 2018,” Adesina said. The presidential spokesman said it was appropriate to, at the twilight of 2017 and at the threshold of a New Year, recount some key achie...
President Buhari Apologises To Nigerians For Fuel Scarcity
News

President Buhari Apologises To Nigerians For Fuel Scarcity

President Muhammadu Buhari spoke for the first time yesterday on the excruciating nationwide fuel scarcity, expressing his sympathy for Nigerians who are enduring weeks of needless queues at filling stations. In a statement personally signed by him and posted on his twitter handle, @Mbuhari #FuelScarcity, he said the development was regrettable. “I am being regularly briefed, especially on the Nigerian National Petroleum Corporation (NNPC’s) interventions to ensure that there is enough petrol available during this period and beyond. The fuel scarcity being experienced nationwide is regrettable. I sympathize with all Nigerians on having to endure needless fuel queues,” he said. The president said he had the NNPC’s assurance that the situation would improve significantly over the next ...
CAN, Atiku, Ugwuanyi, Others Felicitate With Christians At Christmas
News

CAN, Atiku, Ugwuanyi, Others Felicitate With Christians At Christmas

The Christian Association of Nigeria (CAN) has joined prominent Nigerians, including former Vice President Atiku Abubakar, Governor Ifeanyi Ugwuanyi, Prince Uche Secondus and Minister of Solid Minerals, Dr. Kayode Fayemi, to felicitate with Nigerians at Christmas. National President of CAN, Rev. Samson Ayokunle, expressed dissatisfaction over the hardship Nigerians are facing, noting that many could not travel for the celebration due to the current fuel scarcity, unpaid salaries and other economic factors. He however predicted that the year 2018 would bring recovery, healing and unprecedented expansion of God’s kingdom on earth. He also regretted findings by the National Bureau of Statistics few days ago, that no fewer than 3.67 million Nigerians lost their jobs in 2017 due to the ha...
CBN Calms Anxiety In Treasury Bills Market
News

CBN Calms Anxiety In Treasury Bills Market

The Central Bank of Nigeria (CBN) has assured investors that it will continue to carry out its liquidity management mandate through the issuance of Open Market Operations (OMO) bills in order to ensure price stability. The assurance came following the apprehension in the fixed income securities market last week, when the CBN for the first time this year did not carry out its regular liquidity mop-up, through OMO auction, same week that the Debt Management Office (DMO) announced that the N198.032 billion Nigerian Treasury Bills (NTBs) that would mature in December 2017 would be repaid in full at maturity unsettled the market. This is just as the central bank at the weekend released its Nigerian Treasury Bills (NTBs) Issue Programme for the first quarter of 2018, which showed that a total ...
Nigerian Annual Inflation Slows For Tenth Month, To 15.90% – NBS
News

Nigerian Annual Inflation Slows For Tenth Month, To 15.90% – NBS

Annual inflation in Nigeria slowed for the tenth month in a row in November, easing to 15.90 percent, the National Bureau of Statistics (NBS) said on Monday in a report. A separate food price index showed inflation at 20.30 percent in November, compared with 20.31 percent in October. In October Central Bank Governor Godwin Emefiele said he expected inflation rates to fall at a faster pace and reach high single-digit rates by the middle of 2018. The bank has kept its main rate at 14 percent for over a year now as it battles inflation and seeks to attract foreign investors to support the naira currency. However, the government wants to see interest rates come down to lower its borrowing cost and stimulate the economy. It repaid some treasury maturities last week. The West Afri...
Nigeria’s Export Value Rises 13.19% to N3.57bn In Q3
News

Nigeria’s Export Value Rises 13.19% to N3.57bn In Q3

The National Bureau of Statistics has said that Nigeria’s total exports in the third quarter of 2017 stood at N3.57bn, showing 13.19 per cent increase over the amount recorded in the second quarter. The NBS stated this in “Foreign Trade Statistics for the Third Quarter 2017’’ posted on the bureau’s website. The bureau stated the value (N3.57bn) in the third quarter of 2017 represented an increase of 35 per cent over the amount recorded in the same period in 2016. The report stated that raw material exports value increased by 16.88 per cent in third quarter of 2017 against the level in the second quarter of 2017 and 70.42 per cent higher than the third quarter of 2016. It noted that solid minerals exports value increased by 85.3 per cent in third quarter of 2017 compared to the ...
Central Bank Plans Revival Of Moribund Manufacturing Companies With N500 Billion
News

Central Bank Plans Revival Of Moribund Manufacturing Companies With N500 Billion

Determined to significantly boost the contribution of the non-oil sector to Nigeria’s Gross Domestic Product (GDP), the Central Bank of Nigeria (CBN) has said it plans to revive moribund firms in the non-oil export business through its N500 billion export stimulation facility. CBN Governor, Mr. Godwin Emefiele, disclosed this plan Friday night when he spoke with journalists after meeting with stakeholders in the non-oil export business. Also, yesterday at the ninth annual bankers’ committee retreat Emefiele urged management of deposit money banks and other members of the Bankers’ Committee to ensure that they focus on initiatives that would touch the lives of Nigerians and contribute significantly to the country’s GDP. The governor explained that the purpose of the meeting with th...
1,070 Nigerians Died In Road Accident In Q3 – NBS
News

1,070 Nigerians Died In Road Accident In Q3 – NBS

No fewer than 1,070 Nigerians died in road accidents in the third quarter, the National Bureau of Statistics (NBS) said. The NBS Road Transport Data for Third Quarter, 2017 posted on its website on Wednesday showed that 89 out of the number were children. The report stated that 981 of the 1,070 Nigerians that died, representing 91.7 per cent of the figure were adults while the remaining 89 Nigerians, representing 8.3 per cent of the figure were children. The breakdown of the figure showed that 815 of the number were males, representing 76.2 per cent while 255 were females, representing 23.8 per cent. According to the report, 2,478 road accidents occurred in the third quarter. It, however, attributed the major cause of accidents to speed violation, which it said accounted for...
Heartbreaking: 11 People Died Every Day In Nigerian Road Accidents Between July And September
News

Heartbreaking: 11 People Died Every Day In Nigerian Road Accidents Between July And September

The National Bureau of Statistics, NBS, has revealed that no fewer than 1,070 Nigerians died in road accidents in the third quarter.   This indicates that in the 92 days that make up the third quarter, July 1 to September 30, an average 11 people died from road accidents daily.   The NBS Road Transport Data for Third Quarter, 2017 posted on its website on Wednesday showed that majority of the victims were adults.   According to Premium Times, the report stated that 981 of the 1,070 Nigerians that died, representing 91.7 per cent of the figure, were adults while the remaining 89 Nigerians, representing 8.3 per cent of the figure were children.   The breakdown of the figure showed that 815 of the number were males, representing 76.2 per cent while ...
Nigeria Infant Mortality Rate Falls – Survey
News

Nigeria Infant Mortality Rate Falls – Survey

The fifth Multiple Indicator Cluster Survey (MICS) has highlighted a nationwide overall drop in infant mortality rate from 97 per 1000 live births recorded in 2011 to 70 per 1000 live births. The survey was jointly released by the National Bureau of Statistics (NBS) and the United Nations Children’s Fund (UNICEF) on Tuesday, in Abuja. The result of the survey conducted for 2016 and 2017 however revealed that while Nigeria made significant improvements in reducing infant mortality in some areas, it did not perform well in others especially by not ”keeping pace with population growth since the last survey was conducted.” The report said while the infant mortality dropped significantly, deaths among children under age five also have dropped to 120 per 1000 live births from 158 record...
Nigeria’s Inflation Drops To 15.91 % In October
Uncategorized

Nigeria’s Inflation Drops To 15.91 % In October

The National Bureau of Statistics (NBS) says inflation rate, measured by the Consumer Price Index (CPI), has further dropped to 15.91 per cent in October from 15.98 recorded in September. The NBS disclosed this in its “CPI Oct. 2017 Report’’ released on Wednesday in Abuja. The CPI, which measured inflation, increased by 15.91 per cent (year on Year) in October 2017 According to the bureau, this is 0.07 per cent points lower than the rate recorded in Sept. (15.98) per cent. It said the index made it the ninth consecutive decline or slowdown in the inflation rate, though still positive in headline year-on-year inflation, since January. According to the report, increases have been recorded in all the classification of individual consumption by purpose (COICOP) divisions that yi...

Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home/gqbzggmy/public_html/wp-includes/functions.php on line 4979