Economy News

VAT Revenue Rises to ₦2.42 Trillion in Q1 2026 – NBS Reports

By The Insight Team June 12, 2026 96

mostbet mostbet az mostbet mostbet az mostbet mostbet mostbet az mostbet By Emmanuel Kwada Nigeria’s Value Added Tax (VAT) revenue increased to ₦2.42 trillion in the first quarter of 2026, according to the National Bureau of Statistics (NBS), reflecting a 9.98 percent rise from the ₦2.20 trillion recorded in Q4 2025. The latest figures point to sustained momentum in tax collections, driven by stronger inflows across […]Continue Reading

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One Healthy Meal Eats 66% of Minimum Wage; Ekiti Worst Hit: 90% of Wage Gone on Food

By The Insight Team June 2, 2026 111

Key points: Healthy diet costs 66% of minimum wage. Ekiti State workers spend 90% of their wages on food. Subsidy removal doubled food prices in 3 years Insecurity, taxes push 34m into hunger     By Emmanuel Kwada As Nigeria grapples with a prolonged cost-of-living crisis, new data from the National Bureau of Statistics (NBS) […]Continue Reading

Banking Business Economy News

‎Nigeria’s Capital Inflow Plummets 51.9% in Q3 2023 Despite Year-on-Year Growth, NBS Reports

By The Insight Team August 5, 2025 694

By Emmanuel Kwada ‎Nigeria’s capital importation took a sharp downturn in the third quarter of 2024, dropping by 51.90% to $1.25 billion from $2.60 billion in Q2 2024, according to the latest report from the National Bureau of Statistics (NBS). ‎Despite this quarterly decline, the $1,252.66 million recorded in Q3 2024 reflects a robust 91.35% […]Continue Reading

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How Nigerians are working against God

By The Insight Team July 12, 2025 941

  A pan-African movie, The Woman King, written by Dana Stevens and produced by Maria Bello and Cathy Schulam, overflows with suspense, surprises, courage, and valuable life lessons. I hear voices from the movie behind me always; it remains as memorable as instructions in wisdom I received in my boyhood years from my grandfather. Haven […]Continue Reading

Business Top Story

NBS Reports 76.73% Fuel Price Hike

By The Insight Team May 21, 2025 553

By Emmanuel Kwada The National Bureau of Statistics (NBS) has reported a dramatic 76.73% year-on-year increase in the average retail price of Premium Motor Spirit (PMS), commonly known as petrol, with consumers paying N1,239.33 per litre in April 2025, up from N701.24 in April 2024. The average retail price paid by consumers for PMS in […]Continue Reading

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Population Growth in 2024: Africa Leads with 35m Surge as Nigeria Adds 4.8m New Residents

By The Insight Team March 4, 2025 1347

By Emmanuel Kwada In a year marked by divergent demographic trends across the globe, Africa has emerged as the epicenter of population growth in 2024, adding a staggering 35 million people to its population, according to data from Worldometer. This remarkable surge, the largest among all continents, underscores Africa’s position as a demographic powerhouse, with […]Continue Reading

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Nigeria’s Inflation Rate Takes a Notable Dip at 24.48% Against 34.80% in December

By The Insight Team February 18, 2025 694

By Emmanuel Kwada Nigeria’s inflation rate has taken a significant drop, falling to 24.48% in January 2025, according to the National Bureau of Statistics (NBS). This decline is a welcome development, especially when compared to the 34.80% recorded in December. The Statistician-General of the Federation, Adeyemi Adeniran, announced this drop, attributing it to the Continue Reading

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2023: Food inflation highest in Kogi State

By The Insight Team June 11, 2023 1037

Key points Kogi ranked highest in food inflation in April 2023 according to NBS data; Second highest in all items inflation rate nationally An agriculture belt yet, Kogi is low in food production Most food consumed in the state comes from Benue State Movement of people in and out of Kogi State impact on prices […]Continue Reading

Media Top Story

Many Nigerians go hungry as food inflation increases

By The Insight Team May 5, 2023 1112

How to tackle food inflation: World Bank Country Director By Daniel Adaji Nigeria food inflation is on the increase and many Nigerians may be food-insecure in the year 2023. As of March 2023, food inflation had risen to 24.45% on a year-on-year basis, according to the National Bureau of Statistics (NBS). This increase resulted in […]Continue Reading

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Nigeria’s total trade hits N11.722bn in Q4 2022

By The Insight Team March 10, 2023 667

The National Bureau of Statistics (NBS) says Nigeria’s total merchandise trade stood at N11,722.44 billion in the fourth quarter of 2022. This is according to the NBS Foreign Trade in Goods Statistics Report for Q4 2022 released in Abuja on Friday. The NBS said total exports stood at N6,359.61 billion and total imports stood at […]Continue Reading

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Poverty and Buhari’s victory in 2019 presidential election

By The Insight Team February 5, 2023 1458

Was it by coincidence that President Muhammadu Buhari, the All Progressives Congress (APC) candidate in the February 23 presidential election, defeated his opponent Atiku Abubakar of the Peoples Democratic Party (PDP) as a result of poverty in Nigeria? Available data on the website of the National Bureau of Statistics shows that Buhari got overwhelming votes […]Continue Reading

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NBS collaborates with institutions on employment survey

By The Insight Team November 29, 2022 738

By Daniel Adaji The Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics, Prince Semiu Adeyemi Adeniran, has announced that the Nigeria Labour Force Survey (NLFS), which captures the state of employment in Nigeria, has undergone more notable changes from the previous rounds. According to the NBS boss, NLFS is a strategic […]Continue Reading