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Federation Account Allocation Committee (FAAC) (March 2022 Disbursement)
Business and Finance
Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N722.38bn to the three tiers of government in March 2022 from the total revenue generated in February 2022. The amount disbursed comprised N457.03bn from the Statutory Account, N80.00bn from…
Federation Account Allocation Committee (FAAC) (February 2022 Disbursement)
Business and Finance
Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N692.86bn to the three tiers of government in February 2022 from the total revenue generated in January 2022. The amount disbursed comprised N396.43bn from the Statutory Account, N100.00bn f…
Federation Account Allocation Committee (FAAC) (January 2022 Disbursement)
Business and Finance
Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N766.47bn to the three tiers of government in January 2022 from the total revenue generated in December 2021. The amount disbursed comprised of N560.07bn from the Statutory Account, N5.15bn…
Telecoms Data: Active Voice and Internet per State, Porting and Tariff Information (Q1 2022)
Sector Statistics
Executive Summary In Q1 2022, a total of 199,558,540 active voice subscribers were recorded compared to 192,413,613 in Q1 2021. This represents a 3.71% rise in voice subscriptions Year-on-Year. On a Quarter-on-Quarter basis, growth stood at 2.09%. Similarly, a total of 145,851,49…
Transport Fare Watch (May 2022)
Sector Statistics
Executive Summary Transport Fare Watch for May 2022 covers the following categories: 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…
Commodity Price Indices and Terms of Trade (Q1 2022)
International Trade
Highlights Between January and March 2022 (Jan 2018=100): The All-commodity group import index on average increased by 0.22%. This was led by "Products of the chemical and allied industries", "Live animals; animal products", and "Vehicles, aircraft, and parts thereof; vessels, et…
National Household Kerosene Price Watch (May 2022)
Sector Statistics
Executive Summary The average retail price per litre of Household Kerosene (HHK) paid by consumers in May 2022 increased by 15.21% on a month-on-month basis from N589.82 in April 2022 to N679.54 in May 2022. On a year-on-year basis, the average retail price per litre rose by 86.9…
Liquefied Petroleum Gas (Cooking Gas) Price Watch (May 2022)
Sector Statistics
Executive Summary The average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) stood at N3921.35 in May 2022 from N3800.47 recorded in April 2022 showing an increase of 3.18 percent month-on-month. However, on a year-on-year basis, the average retail pr…
Automotive Gas Oil (Diesel) Price Watch (May 2022)
Sector Statistics
Executive Summary The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 181.00% from N238.82 in May 2021 to N671.08 recorded in May 2022. On a month-on -month basis, the average retail price increased from N654.46 in April 2022, indicating a rise…
Premium Motor Spirit (Petrol) Price Watch (May 2022)
Sector Statistics
Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) increased to N173.08 in May 2022, indicating a 2.99% increase when compared to the value recorded in May 2021 (N168.06). Likewise, on a month-on-month basis, the average retail price of…
CPI and Inflation Report May 2022
CPI and Inflation
Executive Summary In May 2022, the inflation rate increased to 17.71 percent on a year-on-year basis. This is 0.22 percent points lower compared to the rate recorded in May 2021, which is (17.93) percent. This means that the headline inflation rate slowed down in the month of May…
Road Transport Data Q1 2022
Sector Statistics
Executive Summary In Q1 2022, total road traffic crashes were 3,345, showing a decrease of 1.82% from Q4 2021, which recorded 3,407. Disaggregating crashes into categories showed that serious cases in Q1 2022 were higher with 2,100 compared to fatal and minor cases with 871 and 3…
Nigerian Capital Importation Q1 2022
Business and Finance
Executive Summary The total value of capital importation into Nigeria in the first quarter of 2022 stood at US$1,573.14 million from US$2,187.63 million in the preceding quarter showing a decrease of 28.09%. When compared to the corresponding quarter of 2021, capital importation…
Selected Food Prices Watch (May 2022)
Sector Statistics
Executive Summary Selected Food Price Watch for the month of May 2022 shows that the average price of 1kg of beans (white, black eye, sold loose) rose on a year-on-year basis by 37.22% from N382.37 in May 2021 to N524.70 in May 2022. Also, on a month-on-month basis, this increase…
Foreign Trade in Goods Statistics (Q1 2022)
International Trade
Key Highlights In the first quarter of 2022, Total trade stood at N13,001.28billion, this was higher than the value recorded in the fourth quarter of 2021 (N11,707.20billion) and the value recorded in the corresponding period of 2021 which stood at N7,860.12 billion. Total Export…
Company Income Tax Q1 2022
Sector Statistics
Executive Summary On the aggregate, Company Income Tax (CIT) for Q1 2022 was reported at N532.48 billion, a growth rate of 53.09% on a quarter-on-quarter basis from N347.81billion in Q4 2021. Local payments recorded were N209.13 billion in Q1 2022, while Foreign CIT Payment contr…
Selected Food Prices Watch (April 2022)
Sector Statistics
Executive Summary Selected Food Price Watch for the month of April 2022 shows that the average price of 1kg of Beans (white, black eye, sold loose) rose on a year-on-year basis by 44.32% from N359.64 in April 2021 to N519.05 in April 2022. Also, on a month-on-month basis, this in…
Transport Fare Watch (April 2022)
Sector Statistics
Executive Summary Transport Fare Watch for April 2022 covers the following categories: bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; airfare charge for specified routes single journey; journey by motorcycle (Okada) per…
Nigerian Gross Domestic Product Report (Q1 2022)
Gross Domestic Product
Overview Gross Domestic Product (GDP) grew by 3.11% (year-on-year) in real terms in the first quarter of 2022, showing a sustained positive growth for six consecutive quarters since the recession witnessed in 2020 when negative growth rates were recorded in quarter two and three…
Sectoral Distribution Of Value Added Tax (Q1 2022)
Sector Statistics
Executive Summary On the aggregate, Value Added Tax (VAT) for Q1 2022 was reported at N588.59 billion, a growth of 4.41% on a quarter-on-quarter basis from N563.72 billion in Q4 2021. Local payments recorded were N344.04 billion in Q1 2022, while Foreign VAT Payment contributed N…
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