According to the NBS National Agricultural Sample Census report, roughly 40.2 million agricultural families in Nigeria participate in various agricultural activities. According to the survey, 91% of agricultural households cultivated crops, with 35% focusing solely on crop cultivation and 48% raising livestock

The Consumer Price Index (CPI) and Inflation Report of the National Bureau of Statistics (NBS) for May 2024 shows that inflation increased to 33.95 percent. This represents a 0.26 percentage point increase from the 33.69 percent recorded in April 2024. On year-on-year basis, the inflation rate increased by 11.54 percentage points, compared to 22.41 percent recorded in May 2023.

According to the National Bureau of Statistics (NBS) report on value-added tax (VAT), in Q1 2024,
Nigeria realised N1.43 trillion in revenue from VAT,representing a quarter-on-quarter growth rate of 19.21% from N1.20 trillion recorded in Q4 2023. Year-on-year, VAT doubled from N709.6 billion in Q1 2023,highlighting significant tax revenue growth, which indicates a rebound in economic activities. Also, the growth suggests expansion in VAT collection and an increase in the average prices of goods and services.

In May 2024, oil production in Nigeria dropped by 30,000 barrels per day (bpd) to 1.25 million bpd, according to OPEC's latest report. This decline puts Nigeria even further behind OPEC's 2024 production quota of 1.38 million bpd and the Federal Government's budgeted benchmark of 1.78 million bpd. This is in addition to the slight drop in the global oil price to $80.96 per barrel, presenting a more challenging situation for the country from both revenue and foreign reserves perspectives.

This snapshot for June 2024 provides trends, and insights on key macroeconomic indicators such as Inflation, foreign reserves, currency in circulation and crude oil prices.