Business Features

Nigeria’s Inflation Soars to 15.75%, Highest Since 2017

By Sahel Standard Magazine January 15, 2021 167 0

The inflation rate in Nigeria jumped in December to its highest level in more than three years, data released on Friday by the National Bureau of Statistics showed. Inflation stood at 15.75 per cent in December, compared with 14.89 per cent in November, marking the 16th straight month of increases. The consumer inflation rate in […]Continue Reading

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Nigeria’s Inflation Increases To 14.89%

By Sahel Standard Magazine December 15, 2020 216 0

The consumer price index, which measures inflation, increased to 14.89 percent in November on a year-on-year basis, a new report by the National Bureau of Statistics has shown. The report, which was released on Tuesday, also shows that food inflation hit 18.30 percent; up 0.92 percentage points from the 17.38 percent recorded in October. Inflation […]Continue Reading

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CBN Retains Key Lending Rates At 11.5%

By Sahel Standard Magazine November 24, 2020 141 2

The Monetary Policy Committee has retained key lending rates at 11.5%. Governor of the Central Bank of Nigeria (CBN) announced this on Tuesday, saying it is part of efforts to boost the Economic growth of the country. This is coming days after a new report released by the Nigeria Bureau of Statistics, disclosed that Nigeria […]Continue Reading

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Again, Nigeria’s Economy Slips Into Recession

By Sahel Standard Magazine November 21, 2020 139 0

Nigeria’s economy has slipped into another recession. The same happened in 2016, making it the second recession in a space of four years. This is according to a new report released by the Nigeria Bureau of Statistics on Saturday. Official figures published by the NBS show that the economy shrank again in the third quarter […]Continue Reading

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Nigeria’s Inflation Rate Climbs Up To 14.23%

By Sahel Standard Magazine November 16, 2020 143 0

The prices of bread, cereals and other foodstuffs pushed the inflation rate to 14.23 percent in October from the 13.71 percent recorded in September. The consumer price index (CPI) report published Monday by the National Bureau of Statistics (NBS) showed that price increases were recorded in all divisions that yielded the headline index. The composite […]Continue Reading

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FG Begins Payment Of N20,000 Conditional Cash Transfer

By Sahel Standard Magazine November 15, 2020 177 0

The Federal government has commenced the disbursement of N20,000 conditional cash transfer to poor women resident in rural communities in Bauchi State. The conditional cash transfer is designed to provide succour for the poorest and most vulnerable women in rural communities. Minister of Women Affairs and Social Development, Paulen Tallen, during the first phase of […]Continue Reading

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States Credit in Banking Sector Hit N18.9tr in Q2

By Sahel Standard Magazine October 9, 2020 122 0

The National Bureau of Statistics (NBS) said the Nigerian Selected Banking sector data as at Second Quarter (Q2 2020) revealed that total Geographical Distribution of Credit by State stood at N18.90trn compared to N18.56trn in Q1 2020 and N15.44trn in Q2 2019. This was contained in a selected banking sector report titled “Quarterly Geographical Distribution […]Continue Reading

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FG produced 54,672 Driving Licences in Q2

By Sahel Standard Magazine September 30, 2020 263 0

The Federal Government produced 54,672 driver’s licences in the Second Quarter of 2020. The National Bureau of Statistics (NBS) disclosed this in its report titled “Road Transport Data (Q2 2020).” According to the document on its website on Wednesday, the Federal Government also produced 155,552 number plates in the period under review. Continuing, the report […]Continue Reading

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Wike Faults NBS Report Says “It is Fake”

By Sahel Standard Magazine September 25, 2020 167 Post a comment

Governor Nyesom Wike of Rivers State has rubbished the unemployment rate by the National Bureau of Statistics (NBS) and claims “it is fake.” “It is fake; it is political,” Wike said on Friday during an interview on Channels Television’s Sunrise Daily, insisting that “I don’t believe in them. I don’t believe in their statistics.” The […]Continue Reading

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Food Prices rose in August, says NBS

By Sahel Standard Magazine September 22, 2020 183 Post a comment

The National Bureau of Statistics (NBS) has said the prices of foods rose in August 2020. Selected food price watch data for August 2020, said the Bureau, “reflected that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 3.70 per cent and month-on month by 1.02 per cent to N478.97 […]Continue Reading