March 17, 2023

Nigeria Economic Update (Issue 7)

According to a report from the National Bureau of Statistics (NBS), the cost of main petroleum products like kerosene, diesel, and Premium Motor Spirit (PMS) all increased in general in January 2023. In particular, the research demonstrated that the cost of PMS increased by 24.70% month-on-month rising from N206.19 in December 2022 to N257.12 in January 2023

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Nigeria Economic Update (Issue 1)

GDP growth rate increased marginally by 2.84 percent in Q3 2015 from 2.35 percent in the preceding quarter. Nominal GDP increased to N24.3 million from N22.9 million in the preceding quarter. Growth in this period was attributed to the improved performance of the non-oil sector which grew by 3.05 percent. The Sectoral disaggregation shows that the Services and Agricultural sectors grew by 3.97 and 3.46 percent respectively, while the Manufacturing sector shrank by 1.75 percent.