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Tag: National Bureau of Statistics (NBS)

  • Nigeria’s foreign debt stands at $22.08bn

    Nigeria’s foreign debt currently stands at $22.08 billion according to the National Bureau of Statistics (NBS).

    The bureau puts domestic debt at N3.48 billion.

    The NBS in the Nigerian Domestic and Foreign Debt Q2 2018 report released in Abuja shows that $10.88billion of the debt is multilateral and $274.98 million is bilateral.

    Multilateral debts are debts owed by developing countries to the World Bank and IMF, known as the Bretton Woods Institutions, while bilateral debt is a simple loan arrangement between a single borrower and a single lender.

    The NBS report says: “There is another $2.12billion bilateral from the Exim Bank of China, Japan International Cooperation Agency, India and KfW bank while $8.80billion is commercial.

    Read Also: NBS insists Nigeria out of recession

    The bureau said Lagos State has the highest foreign debt profile among the 36 states while  the FCT accounts for 34.17 per cent.

    Edo has 6.57 per cent; Kaduna 5.48 per cent; Cross River 4.56 per cent and Bauchi followed closely with 3.18 per cent.

    “Similarly, total domestic debt was N3.48 trillion with Lagos state accounting for 14.88 per cent of the total domestic debt stock,” it said.

    Anambra State has the least debt in this category with a contribution of 0.08 per cent.

  • Positive economic outlook in Edo increases investor traffic

    …as Edo trails Lagos in states with highest air fares

     

    The prevailing investment-friendly environment in Edo State, resulting from a series of reforms embarked upon by the Godwin Obaseki administration, to open up the state to private sector investment is impacting on air transportation, stretching airlines to their limit.

    Figures obtained from a publication by the National Bureau of Statistics (NBS), entitled ‘Transport Fare Watch May 2018,’ showed that ‘’average fare paid by air passengers for specified routes single journey increased by 1.04 percent year-on-year to N31,659.82 in May, 2018,  from N31,833.46, in April 2018, but decreased by 0.40 per cent month-on-month.’’

    The statistics bureau listed Edo State as the state with the second highest air fare, at N39,950.00, after Lagos State, N40,500.00; while the Federal Capital Territory, Abuja was listed third at N39,592.59.

    The states with the lowest air fares, according to the NBS, are Katsina N24, 300.00; Osun N24, 950.48; and Nasarawa N25, 700.18.

    Read Also:Azura-Edo IPP proof of enabling environment for private investors – Osinbajo

    The May 2018 figures released by the National Bureau of Statistics validate reports by operators of hotels and guest houses, tour operators and other practitioners in the tourism and hospitality industry who have attributed the boost in hotel subscription to the wide range of economic activities such as the development of Benin Industrial Park, the Gelegele Seaport project, the 450 Edo-Azura Independent Power Project and the various road construction work across the state.

    New and prospective investors are unperturbed by the high air fares, and investor confidence is at all-time high.

    Recall that the Chairman, Golden Tulip Essential Hotel, Benin City, Mr. Edobor Ozakpolor, explained recently that “the current frenzy in the sector can be traced to the emerging socio-economic opportunities being created by the governor of the state.

    “Hotel accommodation before now was driven by seasonal activities like cultural and political events. But what we have now is a surge and it started since the governor’s inauguration. We thought activities would nose-dive after the inauguration but the tempo has been sustained by visitors and contractors who are seeking jobs and businesses.

    On air travels, he noted that “bookings have increased to 99 per cent as all the airlines that operate the Lagos-Benin route come into Benin City fully booked. This was not the trend before this administration.

    “We have moved from weekend to daily business. When we ask some of our guests what they are doing in the state, they always tell us that they are here to see the state governor. Some guests are impressed by the ease with which they can see the governor and seal business deals, because of the reforms in the system.”

    Mr. Ozakpolor added that “the improvement in security is also boosting the confidence of our people who now come to town often. People feel safer in the city now and we are aware that the security architecture of the state has been interrogated and improved upon. The impact of the improvement is being felt in the sector as there is a direct relationship between the hospitality industry and security.”

    Osazuwa Ehiorobo, owner of The Hamptons Travel Inn, on Boundary Road, Benin City, said “more people are coming into the state now with improved security. The number of contractors that we receive at our facility is on the increase.

    The governor is attracting more people to the state with his work in the road sector and the development of the industrial park and other projects in the state.”

    Mr. Ehiorobo urged hotel owners to take advantage of the emerging business climate by improving their services. “Some of the factors that can keep guests in your hotel include your ability to provide steady power, suitability of your accommodation, the environment, and the security in the city,” he added.

    The National Bureau of Statistics Transport Watch Report for May 2018 covers bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger
    transport.

    According to the Report, “Average fare paid by commuters for bus journey within the city increased by 0.53 per cnet month-on-month and 32.71 per cent year-on-year to N166.85 in May 2018 from N165.94 in April 2018.

    “States with highest bus journey fare within city were Abuja FCT (N325.23), Cross River (N282.14) and Abia (N235.54) while States with lowest bus journey fare within city were Bauchi (N87.92), Anambra (N93.33) and Rivers (N96.36).

    “Average fare paid by commuters for bus journey intercity decreased by 0.05% month-on-month and increased by 14.89% year-on-year to N1,716.31 in May 2018 from N1,722.86 in April 2018. States with highest bus journey fare intercity were Abuja FCT (N4,125.51), Adamawa (N3,166.53) and Borno (N2,744.44) while States with lowest bus journey fare within city were Bauchi (N1,064.54), Enugu (N1,096.88) and Yobe (N1,125.00).”

  • Nasarawa, Yobe, Cross River pay highest price for kerosene in March

    The National Bureau of Statistics ( NBS ), says residents of Nasarawa, Yobe and Cross River, paid the highest price for kerosene in March.

    The NBS said this in its National Household Kerosene “Price Watch’’ for March, 2018 released in Abuja on Wednesday.

    The NBS report said that residents of Nasarawa paid an average price of N306.07 per litre for kerosene, Yobe paid N300.78 while Cross River residents paid N300.68 for the product.

    Meanwhile, the report noted that states with the lowest average price per litre of kerosene were Abia; N229.35; Delta; N227.77 and Borno; N225.13.

    The report said that average price per litre paid by consumers for kerosene decreased by -6.79 per cent month-on-month and -13.66 per cent year-on-year from N288.57 in February to N268.99 in March.

    Read Also: Yobe donates N200m for Army Barrack project

    Similarly, the report said that average price per gallon paid by consumers for the product decreased by -8.45 per cent month-on-month, and -19.57 per cent year-on-year from N1,030.33 in February to N943.27 in March.

    It, however, said that states with the highest average price per gallon of kerosene were Kebbi, N1,105.00; Benue, N1,096.67 ; and Jigawa, N1,061.90, respectively.

    It also noted that states with the lowest average price per gallon of kerosene were Ebonyi, N828.57; Delta, N821.54; and Rivers, N814.08.

    NAN

  • Plateau, Nasarawa, Bayelsa pay highest price for Kerosene in February – NBS

    The National Bureau of Statistics ( NBS ) says residents of Plateau, Nasarawa and Bayelsa paid the highest price for kerosene in February.

    The NBS disclosed this in its “National Household Kerosene Price Watch for February, 2018’’ posted on its website.

    According to the report, residents of Plateau pay an average price of N319.44 per litre during the period, Nasarawa, N316.67 and Bayelsa residents, N315.28.

    The report said the average price per litre paid by consumers for the product decreased by -0.10 per cent month-on-month.

    The report also said that the price of the product decreased by -18.12 per cent year-on-year from N288.85 in January to N288.57 in February 2018.

    It, however, said that states with the lowest average price per litre include Kebbi N257.29; Oyo, N260.53 and Niger, N262.50.

    Similarly, the report said the average price per gallon paid by consumers for the product increased by 0.54 per cent month-on-month and decreased by -24.58 per cent year-on-year from N1,024.83 in January to N1,030.33 in February.

    the report also indicated that states with the highest average price per gallon are Kebbi, N1,203.13; Borno, N1,187.50 and Niger N1,184.38, respectively.

    States with the lowest average price per litre of the commodity, according to the report, include Rivers, N828.26; Delta N858.33 and Abia N882.50.

    NAN

  • 1,306 Nigerians died in road accidents in Q4 – NBS

    1,306 Nigerians died in road accidents in Q4 – NBS

    The National Bureau of Statistics ( NBS ) says no fewer than 1,306 Nigerians died in road accidents in the fourth quarter of 2017.

    The NBS stated this in its “Road Transport Data for Fourth Quarter 2017” posted on its website.

    The NBS said that 1,200 of the 1,306 Nigerians who died, representing 92 per cent of the figure were adults, while the remaining 106, representing eight per cent, were children.

    According to the report, 1,019 male, representing 78 per cent died in the period under review, while 287 female, representing 22 per cent, died in road accidents in the period.

    The report said that 2,489 road crashes occurred in fourth quarter of 2017.

    It indicated that speed violation as the major cause of road crashes during the period and this accounted for 45.08 per cent of the total road crashes reported.

    It said that loss of control and dangerous driving by motorists represented 10.08 per cent of crashes recorded in the fourth quarter.

    According to the report, a total of 7,349 Nigerians got injured in the road accidents recorded in the period.

    It stated that 6,855 of the 7,349 Nigerians that got injured, representing 93 per cent of the figure, were adults, while the remaining 494 Nigerians, representing seven per cent of the figure were children.

    It also reported that 5,366 male, representing 73 per cent, got injured during the quarter, while 1,983 female, representing 27 per cent, were injured within the period.

    The report said that a total of 214,256 national drivers’ licenses were produced in the quarter.

    It stated that Lagos and FCT produced the highest number of drivers’ licenses, while Zamfara and Kebbi States produced the least numbers of national drivers’ licenses in the period.

    NAN

  • Ondo, Rivers, Bayelsa paid highest motorcycles fair in January – NBS

    Ondo, Rivers, Bayelsa paid highest motorcycles fair in January – NBS

    The National Bureau of Statistics ( NBS ) says residents of Ondo State, Rivers and Bayelsa paid the highest per drop fares to commercial motorcycles, popularly known as ‘Okada’, in January.

    The NBS made the disclosure in its “Transport Fare Watch” report for January 2018 posted on its website.

    According to the report, residents of Ondo State paid N200.76 per drop, Rivers paid N200.12, while Bayelsa residents paid N193.75 per drop fares in the period.

    The report stated that states with the lowest journey fares by commercial motorcycle per drop were Bauchi, N65.00, Jigawa, N68.82 and Katsina N70.00.

    It said that the average fare paid by commuters for journey by commercial motorcycle per drop increased by 6.97 per cent month-on-month.

    It also said that the average fare paid by commuters for journeys in the month increased by 27.37 per cent year-on-year to N120.01 in January 2018 from N112.19 in December 2017.

    The report covers the following categories – bus journey within the city per drop, constant route and bus journey intercity.

    It also covered air fare charge for specified routes single journey, journey by motorcycle (Okada) per drop and water way passenger transport.

    The bureau said that average fare paid by commuters for bus journey within the city increased by 7.31 per cent month-on-month and 49.69 per cent year-on-year.

    It indicated that the fares increased to N183.86 in January 2018 from N171.34 in December 2017.

    It stated that states with the highest bus journey fares within city were Abuja FCT, (N380), Cross River (N303.57) and Abia (N250.00).

    It also reported that states with the lowest bus journey fares within city were Bauchi (N96.67), Anambra (N112.67) and Borno (N120.00).

    According to the report, average fare paid by commuters for intercity bus journey increased by 10.11 per cent month-on-month and 32.09 per cent year-on-year.

    This, it said increased to N1, 889.69 in January 2018 from N1,716.26 in December 2017.

    The report said that states with highest intercity bus journey fares were Abuja FCT (N5,625.00), Adamawa (N3,358.57) and Borno (N3,000.00), while the lowest were Yobe (N1,150.00), Bayelsa (N1,122.73) and Katsina (N1,114.29).

    The average fare paid by air passengers for specified routes single journey decreased by 0.99 per cent month-on- month and increased to 7.34 per cent year-on-year to N33,055.01 in January 2018 from N33,386.09 in December 2017.

    States with the highest air fares were Abuja FCT (N49,000.00), Edo (N41,000.00) and Lagos (N40,500.00), while states with the lowest air fares were Osun (N25,714.89), Taraba (N26,000.00) and Nasarawa (N26,000.00).

    The report indicated that average fare paid by passengers for water way passenger transport increased by 1.03 per cent month-on-month and 7.65 per cent year-on-year to N638.04 in January 2018 from N631.55 in December 2017.

    It stated that states with highest fare by water way passenger transport were Bayelsa (N1,962.50), Rivers (N2,100.00) and Cross Rivers (N1,877.78).

    The report indicated that states with lowest fare by water way passenger transport were Abuja FCT (N250.00), Gombe (N180.00) and Borno with passengers paying N152.00.

    NAN

  • VAT records 1.73% increase in third quarter – NBS

    VAT records 1.73% increase in third quarter – NBS

    The National Bureau of Statistics ( NBS ) said revenue generated from Value Added Tax ( VAT ), increased by 1.73 per cent in the third quarter of 2017.

    The NBS announced the figure in a sectoral distribution of value added tax report for third quarter, 2017 posted on the bureau’s website posted in Abuja.

    The further disclosed that the figured increased from N246.30 billion in the second quarter to N250.56 billion in third quarter.

    VAT is a tax on the amount by which the value of an article has been increased at each stage of its production or distribution.

    It also  stated that the figure generated in the quarter was higher than N196.70 billion recorded during the same period in 2016, representing 1.73 per cent increase quarter-on-quarter and 27.39 per cent increase Year-on-Year.

    The bureau noted that the manufacturing sector generated the highest amount of VAT with N28.98 billion,closely followed by Professional Services and Oil Producing,N22.73 billion and N12.09 billion.

    It said that the mining sector generated the least with N33.70 million,closely followed by Local Government Councils and Pharmaceutical, Soaps and Toiletries, N193.78 million.

    NBS said of the total amounted generated in the quarter, N125.13 billion was generated as Non-Import VAT locally while N72.10 billion was generated as Non-Import VAT for foreign.

    It, however, stated that the balance of N53.33 billion was generated as Nigeria Customs Service Import VAT.

    NAN

  • Nigeria’s GDP grows by 1.40 % in Q3 – NBS

    Nigeria’s GDP grows by 1.40 % in Q3 – NBS

    The National Bureau of Statistics ( NBS ) says the nation’s Gross Domestic Product ( GDP ) grew by 1.40 per cent year-on-year in real terms in the 3rd quarter.

    The NBS stated this in a GDP Report for Third Quarter 2017 released in Abuja on Monday.

    The bureau stated that the figure showed the second consecutive positive growth since the emergence of the economy from recession in second quarter.

    It stated that the growth was 3.74 per cent points higher than the rate recorded in the corresponding quarter of 2016, which was – 2.34 per cent.

    It stated that it was also higher by 0.68 per cent points from the rate recorded in the preceding quarter, which was revised to 0.72 per cent from 0.55 per cent.

    The second quarter was revised following revisions by NNPC to oil output and hence led to revisions to Oil GDP.

    Quarter on quarter, the bureau stated that the real GDP growth was 8.97 per cent.

    According to the report, the broad classification into the oil and non-oil sectors will give a clearer depiction of the Nigerian economy.

    In the period under review, the report stated that oil production was estimated at 2.03 million barrels per day (mbpd) on average.

    It stated it was 0.15 million barrels higher than the revised daily average production recorded in the second quarter of 2017 (revised from 1.84 mbpd to 1.87 mbpd).

    It further noted that oil production during the quarter was higher by 0.42 million barrels per day relative to the corresponding quarter in 2016, which recorded an output of 1.61 mbpd.

    Meanwhile, the report stated that the non-oil sector grew by –0.76 per cent in real terms during the reference quarter.

    It stated that the figure was lower by -0.79 per cent point compared to the rate recorded same quarter, 2016 and -1.20 per cent point lower than in the second quarter.

    The non-oil sector, the report stated was driven in the quarter under review mainly by Agriculture (Crop), other services and Electricity, gas, steam and air conditioning supply.

    In real terms, the report stated that the sector contributed 89.96 per cent to the nation’s GDP.

    It, however, stated that the figure was lower than the share recorded in the third quarter of 2016 (91.91 per cent) and in the second quarter of 2017, which was 90.96 per cent.

    NAN

  • Nigeria’s GDP records decline in Q3 and Q4 2016

    Nigeria’s GDP records decline in Q3 and Q4 2016

    The National Bureau of Statistics ( NBS ) says the Gross Domestic Product( GDP ) in real terms dellined in the third and fourth quarters of 2016.

    The NBS made  this known  in its “Nigerian Gross Domestic Product( GDP ) Report on Expenditure and Income Approach for the third and fourth quarter of 2016 released in Abuja.

    According to the report, the decline followed the negative growth trend from the first half of 2016.

    It explained  that the household consumption and government consumption expenditures led to the decrease in GDP in both the third and fourth quarter of the year under review.

    The bureau,however, stated that a strong recovery in growth in net exports, particularly in the fourth quarter helped to stem the decline.

    According to the report, the National Disposable Income recorded a strong growth in comparison to the GDP in the second half of 2016 in real terms.

    This it said was partly as a result of increases in other net transfers from the rest of the World .

    The report stated that Year on Year growth in Domestic Compensation of Employees in real terms declined.

    The bureau further said that the operating surplus declined in the third and fourth quarters but grew overall in real terms in 2016.

    NAN