Cooking gas price increases by 101% in one year – NBS

The average price of 5 kilogrammes of cooking gas increased from N4, 397.68 in July to N4, 456.56 in August. The assertion was made by the National Bureau of Statistics (NBS), in its Cooking Gas Price Watch issued yesterday, in Abuja. The NBS noted that the price in August indicated a 1.34 percent increase on a month-on-month basis from what obtained in July. “On a year-on-year basis, the August 2022 price was a 101.17 percent increase over the price of N2,215.33 paid for the same volume of gas in August…

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Nigerian economy shrinks by N63bn; 28 sectors struggling – NBS

No fewer than 28 sectors of the economy declined in the second quarter of 2022 as real Gross Domestic Product (GDP) shrunk by N63.49billion quarter-on-quarter, the National Bureau of Statistics, (NBS), data has revealed. According to data from the Bureau, while real GDP grew by 3.54% year-on-year in Q2 2022, it declined by 0.37%, from the N17.35 trillion that was recorded in the first quarter of 2021 to N17.29 trillion in Q2, 2022. The NBS blamed this decline on lower economic activity that was witnessed in the country in Q-1…

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Amid soaring food prices, inflation rate hits 19.64%, highest in 17 years – NBS

Nigeria’s inflation rate in the month of July 2022 rose to a 17-year high of 19.64%, as the prices of food rose across the nation, the National Bureau of Statistics, (NBS), has disclosed. In a report it released yesterday, the NBS said the figure was 2.27% higher compared to 17.38% recorded in July 2021. On a month-on-month basis, it said the headline inflation rate in July 2022 was 1.817%, which was 0.001% higher than 1.816% recorded in June 2022. It further said food inflation rose to 22.02% on a year-on-year…

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Average price of 5kg cooking gas increases to N3,921.35
– NBS

The National Bureau of Statistics, (NBS), says the average price of refilling a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) has risen to N3,921.35 in May 2022. This was contained in the NBS Liquefied Petroleum Gas (Cooking Gas) Price Watch for May 2022 released in Abuja yesterday. The NBS said refilling the cylinder used to cost N3,800.47 in April 2022, adding that the increase indicated a 3.18% month-on-month increase. However, on a year-on-year basis, the average retail price of the product increased by 89.28%, from N2,071.69 in May 2021.…

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Nigerians groan, as cooking gas price rises by 83.7%

As the nation prepares for its 2023 general elections, many Nigerian households and businesses are finding it difficult to keep up with the hike in the price of commodities, one of which is cooking gas. According to the latest data by the National Bureau of Statistics, (NBS), refilling a 5kg cylinder of liquefied petroleum gas (cooking gas) stood at N3800.47 last month. A development that translates to an 83.67% increase from an average retail price of N2,069.21 in April 2021, on a year-on-year basis. Speaking with newsmen, a barber, Adam,…

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Prices of yam, beans, tomatoes, bread rise by over 40% as inflation bites harder

Figures from the National Bureau of Statistics, (NBS) show that the average prices of food items in Nigeria, such as yam, beans, tomatoes and bread, recorded significant increases within a one-year, between February 2021 and February 2022. The average cost of beans increased rose by 50.1%, from N331.48 to N 497.54 during the review period, the NBS figures showed. On a monthly basis, the price of beans recorded an increase of 3.34%, from N481.47 in January 2022 to N497.54 in February 2022. As of February 2021, the average cost of…

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Cooking gas price skyrockets by 83% in one year – NBS report

The average retail price for cooking gas increased by 83.62 percent from N2057.71 in March 2021, according to a new report by the National Bureau of Statistics, (NBS). The report, titled: “Liquefied Petroleum Gas (Cooking Gas) Price Watch (March 2022)”, indicated that the average price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) stood at N3778.30 in March 2022, from N3708.58 recorded in February 2022, showing an increase of 1.88% month-on-month. According to the State profile analysis, the highest average price for refilling a 5kg cylinder of…

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Capital importation into Nigeria drops by 31% to $6.7bn in 2021 – Statistics Bureau

Capital importation into Nigeria fell by 31% to $6.7 billion in 2021, from $9.68 billion in 2020, according to the Capital Importation Report for the Fourth Quarter of 2021 (Q4’21) released by the National Bureau of Statistics, (NBS), on Wednesday. The report shows that the three components of capital importation recorded a decline in 2021. Portfolio Investment suffered the largest decline of 34 percent, falling to $3.39 bn in 2021, from $5.14 billion in 2020. Foreign Direct Investment (FDI) followed, with a 31% decline to $699 million in 2021, from…

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Nigeria’s inflation rate rises to 15.63% – NBS

Nigeria’s inflation rate in December 2021 rose to 15.63%, from 15.4% recorded in November 2021, after 8 months of consecutive decline. This is according to the consumer price index report released by the National Bureau of Statistics, (NBS). The nation’s inflation rate had been on a steady decline in the past 8 months since April 2021, moderating from the highs recorded in the previous year. However, the rate had just back-pedalled with a slight increase in December, 2021. Food inflation, which accounts for all volatile agricultural produce, increased by 0.16%…

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Kerosene, cooking gas prices increase in August – NBS

The National Bureau of Statistics (NBS) says the average price per litre paid by consumers for household kerosene increased to N400.01 in August from N397.34 in July. A report obtained from the NBS’s website on Friday, said the kerosene price increased by 0.67% month-on-month and by 15.43% year-on-year in the period under review. It said that States with the highest average price per litre of kerosene were Enugu, where residents bought the product at N494.05, Ebonyi, N489.17 and Cross-River, N487.50. The Bureau, however, said that residents in Bayelsa paid the…

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