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Tag Archives: National Bureau of Statistics

Respite underway as inflation makes back-to-back decline by 0.52 % in March

Inflation rate

Technical recovery of the Nigerian economy seems insight as the National Bureau of Statistics (NBS), on Thursday, said inflation dropped by 0.52 percent in March, the second decline recorded on the year- on- year calculation. Initial decline was recorded in February when inflation dropped by 0.94 per cent. According to the latest Consumer Price Index for March released in Abuja, ...

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MPC meets today as experts expect lowering of lending rate, CBN thinks otherwise

CBN MPC meeting

The Monetary Policy Committee (MPC) of Central Bank of Nigeria (CBN) will today, Monday begin its second meeting on review of monetary policy activities in Abuja. The meeting is expected to end Tuesday with a communiqué which will roll out new rates including lending rate and others. Some economists who spoke to Business Hilights correspondent said considering the recent inflation ...

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Recession receding as Nigeria’s inflation falls to 17.78% in February – NBS

Udoma, Buhari, Adeosun

Respite on recession seems underway as latest report on the nation’s presented by the National Bureau of Statistics (NBS) on Tuesday showed that Nigeria’s inflation rate has begun reversal trend as February figure showed drop to 17.78 percent from January figure of 18.72 percent. The new figure can be said to be the lowest level in 15 months as signals ...

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Surprise as Nigeria records N671bn trade surplus in Q4 2016

NBS

The National Bureau of Statistics has released a fresh report indicating that the value of the total trade at the end of 2016 was N17. 35bn and that Nigeria’s external trade in the fourth quarter of 2016 was valued at N5.28bn. It said “The export component stood at N2.98bn while the import component stood at N2.31bn leading to a trade ...

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Recession, others shrink manufacturing sector’s stake to GDP by N80bn in 2016—NBS

NBS

Fresh report from the National Bureau of Statistics (NBS) has shown that the manufacturing sector’s contribution to the economy dropped from N8.97tn as of the end of December 2015 to N8.89tn as of the end of December 2016. Before now, sector observers has said that the scarcity of foreign exchange added to the harsh ease of doing business and multiple ...

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Analysts explain why GDP squeezed by -1.30% in Q4 2016

NBS

Latest economic data released by the National Bureau of Statistics (NBS), in the fourth quarter of 2016, has shown that the nation’s Gross Domestic Product (GDP) contracted by -1.30 per cent (year-on-year) in real terms, from N18,533.75 billion in Q4 2015 to N18,292.95 billion in Q4 2016. Otherwise, the GDP of the Nigerian economy has continued to dwindle due to ...

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