Tuesday, September 25, 2018

Tag "National Bureau of Statistics"

    Nigeria’s inflation rises for the first time after 18-month decline

Nigeria’s inflation rises for the first time after 18-month decline

Nigeria's inflation has risen for the first since it started its decline in January 2017.This is according to the latest inflation report published by the National Bureau of Statistics on Friday.According to the report, the rate at which prices of goods and services increased in August rose to 11.23% from 11.14%."The consumer price index, (CPI) which measures inflation increased by [...]

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    Bank loans to private sector declines by N600bn in 18 months

Bank loans to private sector declines by N600bn in 18 months

The total loans granted by banks to the private sector declined by N600.60 billion, from N16 trillion in the first quarter of 2017 to N15.34 trillion, in the second quarter of 2018.A report by the National Bureau of Statistics (NBS) on Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength (Q2 2018), showed that credit to [...]

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    Capital imports into Nigeria declines by $79m

Capital imports into Nigeria declines by $79m

Data made available by the National Bureau of Statistics show that the total value of capital imported into the country in the second quarter of the year was $5.5 billion.This is 12.53% lesser than the capital importation recorded in the first quarter and an increase of 207.62% when compared to the second quarter of 2017.The bureau made this known in [...]

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    Banks employed 12,253 people in Q2 — 97% were contract staff

Banks employed 12,253 people in Q2 — 97% were contract staff

The staff strength of banks in the country increased by 12,253 people in the second quarter of 2018 (April -June) but 11,942 of this total figure were employed as contract staff.According to the Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength (Q2 2018) report released by the National Bureau of Statistics (NBS), the staff strength [...]

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    Yemi Kale: Nigeria’s economy still struggling, Q2 GDP figure looks flat

Yemi Kale: Nigeria’s economy still struggling, Q2 GDP figure looks flat

Yemi Kale, the statistician-general of the federation, says Nigeria's economy has not recovered from the 2016 recession.Speaking on a programme on Arise TV on Saturday, the director-general of the National Bureau of Statistics (NBS) said the conflicts between farmers and herdsmen dragged down the gross domestic report in the first quarter of 2018."I am not going to give [...]

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    Inflation now 1.28% points lower than FG’s 2018 projection

Inflation now 1.28% points lower than FG’s 2018 projection

Data made available by the National Bureau of Statistics (NBS) show that year-on-year inflation dropped to 11.14% in July; 1.28% points beneath the federal government's projection.In the 2018-2020 Medium Expenditure Framework and Fiscal Strategy paper, the federal government had projected that inflation would moderate at 12.42%.According to the bureau, the figure is 0.09% points less than the 11.23% recorded in [...]

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    Rewane: We must prepare, inflation will start increasing from August

Rewane: We must prepare, inflation will start increasing from August

Bismarck Rewane, economic analyst and chief executive officer of Financial Derivatives Company, says consumers must prepare for rising inflation from August 2018.Speaking on a programme on Channels TV on Monday, Rewane said there are predictions that Nigeria will be a high inflation environment in 2019.The National Bureau of Statistics released the June Inflation report on Monday, which showed that inflation [...]

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    Nigeria’s inflation rate rises month-on-month

Nigeria’s inflation rate rises month-on-month

The rate at which the prices of good and services are increasing is rising.Data made available by the National Bureau of Statistics on Monday showed that month-on-month inflation rose from 1.09 percentage points in May to 1.24 percentage points in June.However, year-on-year inflation slowed from 11.61 percentage points in May to 11.23 percentage points in June, marking the 17th consecutive [...]

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    Nigeria’s GDP growth dips in 2018, after 2017 exit from recession

Nigeria’s GDP growth dips in 2018, after 2017 exit from recession

The rate at which gross domestic product grew in the first quarter of 2018 slowed from 2.1 percent points in the fourth quarter of 2017 to 1.95 percent points in 2018.According to the Gross Domestic Product report released by the National Bureau of Statistics on Monday, this decline is despite an increase in oil production."Nigeria’s gross domestic product (GDP) grew by [...]

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    Kogi: N500m monthly loan servicing makes it hard to pay salaries regularly

Kogi: N500m monthly loan servicing makes it hard to pay salaries regularly

The Kogi state government says it is unable to pay salaries regularly because of the N500 million loan servicing bill it has to settle monthly.In an interview with NAN on Sunday, Kingsley Fanwo, the state director general, media and publicity, said the loans were taken by the two previous administration for projects that did not add value to the state.“Sometimes, [...]

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    Inflation drops to 12.48 percent — slightly higher than FG’s 2018 projection

Inflation drops to 12.48 percent — slightly higher than FG’s 2018 projection

Data made available by the National Bureau of Statistics show that inflation rate has again slowed to 12.48 percent in April from the 13.34 percent recorded in March.This figure is 0.6 percentage points higher than the federal government's inflation projection of 12.42 percent for 2018 as contained in the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper."The GDP is [...]

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    Report: Foreign investors now prefer Abuja to Lagos

Report: Foreign investors now prefer Abuja to Lagos

Data made available by the National Bureau of Statistics shows that Abuja has displaced Lagos as the city with the largest inflow of foreign capital.In its report, Capital Importation (Q1), the NBS said Abuja reported inflow of $3.54 billion, up from the $2.68 billion reported in the fourth quarter of 2017.In the first quarter of 2018, Lagos reported capital importation [...]

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    Inflation declines — and it’s the biggest drop in 11 months

Inflation declines — and it’s the biggest drop in 11 months

Data made available by the National Bureau of Statistics (NBS) shows that inflation has again slowed; this time by 0.99 percent points which is the biggest drop in 11 months.In the Consumer Price Index and Inflation Report for March 2018, the NBS said inflation rate has dropped in 13.34 percent from 14.33 percent in February.This is the 14th consecutive month [...]

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    Data collection ‘will soon’ get easy

Data collection ‘will soon’ get easy

The federal government is about resolving the difficulties in getting data related to Nigeria.Kemi Adeosun, minister of finance, who disclosed this in Abuja on Monday, announced that an inter-ministerial committee on harmonisation of data collection and evaluation had been created.She said the committee would ensure that data is not duplicated by various government agencies.The committee would be chaired by Yemi Kale, statistician general [...]

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    NBS: Food prices are dropping

NBS: Food prices are dropping

Food prices recorded a major decline in December, the latest Consumer Price Index report released by the National Bureau of Statistics (NBS) on Tuesday has shown.According to the bureau, food inflation dropped 0.89 points to stand at 19.42 percent as against 20.31 percent recorded in November.This is the first major decline in food inflation since it started increasing in November [...]

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    NBS: Expect worse unemployment figures from Q4 2017

NBS: Expect worse unemployment figures from Q4 2017

The National Bureau of Statistics (NBS) says the number of unemployed people in Nigeria will increase in the fourth quarter of 2017.The bureau made this prediction in the third quarter unemployment report, which was recently released on its website."An economic recession is consistent with an increase in unemployment as jobs are lost and new jobs creation is stalled. The unemployment rate, [...]

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Exchange Rates

September 24, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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