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Tag: National Bureau of Statistics (NBS).

  • Railway corporation generates N1.49b from passengers in Q3 2023- NBS

    Railway corporation generates N1.49b from passengers in Q3 2023- NBS

    The Nigerian Railway Corporation generated N1.49 billion as revenue from passengers in Q3 of 2023, the National Bureau of Statistics (NBS) has said.

    This is contained in the NBS Rail Transportation Data for Q3 and Q4 2023 released in Abuja on  Thursday.

    The report showed that the figure increased by 108.25 per cent compared to the N715.09 million generated in Q3 of 2022.

    Similarly, it showed that N286.78 million was collected in Q3 2023 as revenue from goods/ cargos, this increased by 181.58 per cent from N101.84 million received in Q3 2022.

    “Also, other receipts grew by 1.05 per cent in Q3 2023 from the N117.98 million recorded in Q3 2022.”

    The report also showed that the number of rail transport passengers in Q3 2023 increased to 594,348.

    “This is higher than the 500,348 recorded in Q3 2022, representing a growth rate of 18.79 per cent. ”

    In addition, the report showed 81,963 tons of goods were transported in Q3 2023,compared to 33,312 tons reported in Q3 2022.

  • Cooking gas prices fluctuate across Nigeria regions

    Cooking gas prices fluctuate across Nigeria regions

    The National Bureau of Statistics (NBS) has reported that the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) witnessed a month-on-month increase of 1.81 per cent.

    In September 2023, the price rose to N4,189.96 from N4,115.32 in August 2023. However, on a year-on-year basis, there was a decrease of 6.36 per cent compared to September 2022 when the price was N4,474.48.

    The report also noted regional variations in gas prices, with Kwara state recording the highest average price for a 5kg cylinder refill at N4,866.60, followed by Benue state at N4,789.26 and Adamawa state at N4,785.71.

    In contrast, parts of southern Nigeria had lower prices, with Ondo state having the lowest at N3,364.62, followed by Ekiti and Edo states at N3,450.06 and N3,626.17, respectively.

    An analysis by zone indicated that the North-Central region had the highest average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas, at N4,555.95, followed by the North-West at N4,394.40, while the South-West recorded the lowest price at N3,809.22.

    Additionally, the NBS report noted that the average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas increased by 0.58 per cent on a month-on-month basis, rising from N9,194.41 in August 2023 to N9,247.40 in September 2023. On a year-on-year basis, this represented a 6.65 per cent decrease from N9,906.44 in September 2022.

    Cross River recorded the highest average retail price for the refilling of a 12.5kg cylinder of Liquefied Petroleum Gas at N10,203.13, followed by Ogun at N9,967.11 and Nasarawa at N9,950.15.

    Conversely, the lowest average price was recorded in Adamawa at N7,604.29, followed by Borno and Gombe at N8,113.69 and N8,188.75, respectively.

    Analyzing the data by zone, the South-South region recorded the highest average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas at N9,613.55, followed by the South-East at N9,393.69, while the North-East had the lowest price at N8,683.62.

  • World Food Day: FAO urges measures for food security amid rising inflation

    World Food Day: FAO urges measures for food security amid rising inflation

    As Nigeria grapples with soaring inflation rates, the Director-General of the Food and Agriculture Organisation (FAO) of the United Nations, Qu Dongyu, has urged governments to prioritize water in policy and planning, as there can be no food security without water.

    Dongyu gave the advice on Monday at the World Food Day 2023 ceremony, held at the FAO headquarters in Rome, Italy, with the theme ‘Water is life, water is food. Leave no one behind’.

    “Innovative solutions need to be co-developed with partners, including the private sector. We also need to significantly increase investments in integrated water resources management and infrastructure.

    “Countries need to produce more food with less water while restoring land and water systems, and at the same time ensure equitable access to water, and increased resilience to extreme weather events,” he said.

    The Director-General outlined key actions required to achieve Sustainable Development Goals (SDGs) related to water and food security.

    These include strengthening partnerships, co-developing innovative solutions, increasing investments in integrated water resources management and infrastructure, producing more food with less water, and engaging the private sector as water stewards.

    Meanwhile, recent figures released by the National Bureau of Statistics (NBS) shows that Nigeria’s headline inflation rate on a year-on-year basis surged to 26.72 per cent in September, from the previous month’s rate of 25.80 per cent.

    The rise in headline inflation is attributed to various factors, including increases in the prices of Food and non-alcoholic Beverages (13.84 per cent), Housing, Water, Electricity, Gas and other Fuel (4.47 per cent), Clothing and Footwear (2.04 per cent), Transport (1.74 per cent), and others.

    The Food sub-index also witnessed a year-on-year increase of 30.64 per cent in September, fueled by escalating prices of essential items like Oil and fat, Bread and cereals, Potatoes, Yam and other Tubers, Fish, Fruit, Meat, Vegetables, and more.

    The rising inflation rates in Nigeria, particularly in essential food items, calls for urgent and concerted efforts to mitigate its impact on the availability and affordability of food for the population.

  • 92% Nigerians are informally employed — NBS

    92% Nigerians are informally employed — NBS

    The National Bureau of Statistics (NBS) has noted that 92.6 percent of employed persons in Nigeria were in informal employment in the first quarter of 2023.

    According to NBS, persons in informal employment including agriculture were in the range of 92.6 percent, saying that the percentage in informal employment excluding agriculture is 89.4 percent.

    The NBS stated this in its “Nigeria Labour Force Survey” published on its website on Thursday.

    The report states that Nigeria’s unemployment rate was 5.3 percent in Q4 2022 and 4.1 per cent in Q1 2023.

    The figure indicates a significant drop in the unemployment rate, compared to the 33.3 per cent published by the statistics body as Nigeria’s unemployment rate in 2020.

    The drop in unemployment rate is attributed to a rejig of the metric used by the NBS to measure unemployment in the country.

  • Nigeria’s inflation rate jump to 22.41% in May

    Nigeria’s inflation rate jump to 22.41% in May

    Nigeria inflation rate jumped up to 22.41 percent in May 2023, according to Nigeria’s consumer price index (CPI), which measures the rate of change in prices of goods and services in the country.

    The inflation rate increased from 22.22 percent in the previous month to 22.41 percent.

    The country’s May inflation data is contained in the latest CPI report released on Thursday by the National Bureau of Statistics (NBS).

    The latest figure is the fifth consecutive rise in the country’s inflation rate this year, as Nigerians adjust to the effects of the recent petrol subsidy removal.

    According to the NBS report, “in May 2023, the headline inflation rate increased to 22.41 percent relative to April 2023 headline inflation rate which was 22.22 percent”.

    “Looking at the movement, the May 2023 inflation rate showed an increase of 0.19 percentage points when compared to April 2023 headline inflation rate,” NBS said.

    “Similarly, on a year-on-year basis, the headline inflation rate was 4.70 percentage points higher compared to the rate recorded in May 2022, which was (17.71 percent).

    “This shows that the headline inflation rate (year-on-year basis) increased in the month of May 2023 when compared to the same month in the preceding year (i.e., May 2022).

    “Likewise, on a month-on-month basis, the headline inflation rate in May 2023 was 1.94 percent, which was 0.03 percent higher than the rate recorded in April 2023 (1.91 percent).”

    The NBS said in the month of May 2023, the average general price level was 0.03 percent higher relative to April 2023.

    According to NBS, the food inflation rate in May 2023 was 24.82 percent on a year-on-year basis. This is 5.33 percent points higher compared to what was recorded in May 2022 (19.50 percent).

    The statistics body said the rise in food inflation was caused by increases in prices of oil and fat, yam and other tubers, bread and cereals, fish, potatoes, fruits, meat, vegetable, spirit.

    “On a month-on-month basis, the food inflation rate in May 2023, was 2.19 percent, this was 0.06 percent higher compared to the rate recorded in April 2023 (2.13 perecent),” the report said.

    “The average annual rate of food inflation for the twelve-months ending May 2023 over the previous twelve-month average was 23.65 percent, which was 4.97 percent points increase from the average annual rate of change recorded in May 2022 (18.68 percent).

    “On a year-on-year basis food inflation was highest in Ondo (25.84 percent), Kogi (25.70 percent), Rivers (25.02 percent); while Taraba (19.55 percent), Sokoto (19.56 percent), and Plateau (19.89 percent) recorded the slowest rise in headline inflation.”