Inflation rises to 21.82% amid cash, fuel shortages
Nigeria’s headline inflation rate increased from 21.34 percent in December 2022 to 21.82 percent in January 2023, according to data released by the National Bureau of Statistics on Wednesday.
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Nigeria’s headline inflation rate increased from 21.34 percent in December 2022 to 21.82 percent in January 2023, according to data released by the National Bureau of Statistics on Wednesday.
For Today’s Numbers to Ponder, N4.6 trillion was spent on food consumed outside the home in 2019, representing 20.19% of total food expenditure. DATAPHYTE takes a look at what the NBS figures mean for FMCG businesses. Setting records straight, the Bill and Melinda Gates Foundation has denied media reports that it offered a $10 million bribe to the Nigerian House of Representatives to pass the controversial Control of Infectious Diseases Bill. Nigeria’s EFCC has received court permission to use data to probe a controversial company P&ID that received a $9.8 billion arbitration award against the government. Nigeria has added 2 weeks to the ongoing movement restrictions across Nigeria. The effort is to tame the spread of COVID-19.
For Today’s Numbers to Ponder, consumers spent a record N40.2 trillion on household consumption comprising food and non-food items. According to the National Bureau of Statistics (NBS), 56.65% (representing N22.8 trillion) of household expenditure was spent on food while the remaining 43.35% (N17.4 trillion) was spent on non- food items. We are also sharing news on how 200,000 jobs for Nigerians may be in jeopardy as Coronavirus threatened an estimated 160 Chinese firms operating in the country. Businesses and industries have shut down as Africa’s cases of COVID-19 topped over 60,000 on Saturday, May 9th – a third of whom have recovered – with deaths hovering around 2,000. Despite these threats, some Africans believe they cannot contract the deadly virus. Findings by Partnership for Evidence-Based Response to COVID-19 (PERC), a public-private partnership initiative, have shown. On the sports side, Local clubs and players are hopeful in Nigeria as football officials find applicable means to share FIFA’s $500,000 (about N180m) fund.
Food items contributed more to consumers’ expenses in 2019 with a record of N40.2 trillion on household consumption. The report by the National Bureau Of Statistics (NBS) has shown.