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.
March 17, 2023
Nigeria Economic Update (Issue 7)
Related
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.