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Federation Account Allocation Committee (FAAC) (April 2022 Disbursement)
Business and Finance
Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N1.15trillion to the three tiers of government in April 2022 from the total revenue generated in March 2022. The amount disbursed comprised N933.30bn from the Statutory Account, and N219.50b…
Company Income Tax Q2 2022
Sector Statistics
Executive Summary On the aggregate, Company Income Tax (CIT) for Q2 2022 was reported at N714.40 billion, indicating a growth rate of 29.53% on a quarter-on-quarter basis from N551.53 billion in Q1 2022. Local payments received were N634.01 billion, while Foreign CIT payment cont…
Foreign Trade in Goods Statistics (Q2 2022)
International Trade
Key Highlights In the second quarter of 2022, Total trade stood at N12,841.54 billion, this was lower than the value recorded in the first quarter of 2022 (N13,001.28 billion) but was higher than the value recorded in the corresponding period of 2021 which stood at N9,712.02 bill…
Value Added Tax (VAT) Q2 2022
Sector Statistics
Executive Summary On the aggregate, Value Added Tax (VAT) for Q2 2022 was reported at N600.15 billion, showing a growth rate of 1.96% on a quarter-on-quarter basis from N588.59 billion in Q1 2022. Local payments recorded were N359.12 billion, while Foreign VAT Payment contributed…
Nigerian Capital Importation Q2 2022
Business and Finance
Executive Summary The total value of capital importation into Nigeria in the second quarter of 2022 stood at US$1,535.35 million from US$875.62 million in the corresponding quarter of 2021, showing an increase of 75.34%. When compared to the preceding quarter, capital importation…
Transport Fare Watch (July 2022)
Sector Statistics
Executive Summary This report shows Transport Fare Watch for July 2022 covering 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 mo…
Nigerian Gross Domestic Product Report (Q2 2022)
Gross Domestic Product
Overview Nigeria Gross Domestic Product (GDP) grew by 3.54% (year-on-year) in real terms in the second quarter of 2022. This growth rate declined from 5.01% in the second quarter of 2021 when rapid growth was recorded following the toll the COVID-19 pandemic exacted on the econom…
Selected Food Prices Watch (July 2022)
Sector Statistics
Executive Summary The average price of 1kg of beans (white, black eye, sold loose) in July 2022 was N547.38, an increase of 23.22% from N444.21 in July 2021. On a month-on-month basis, this increased by 2.09% from N536.17 in June 2022. The average price of 1kg of Tomato in July 2…
Liquefied Petroleum Gas (Cooking Gas) Price Watch (July 2022)
Sector Statistics
Executive Summary The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 4.25% on a month-on-month basis from N4,218.38 recorded in June 2022 to N4,397.68 in July 2022. On a year-on-year basis, this rose by 105.35% from N2,141.…
National Household Kerosene Price Watch (July 2022)
Sector Statistics
Executive Summary The average retail price per litre of Household Kerosene (HHK) paid by consumers in July 2022 was N789.75, indicating an increase of 3.68% compared to N761.69 recorded in June 2022. On a year-on-year basis, the average retail price per litre of the product rose…
Premium Motor Spirit (Petrol) Price Watch (July 2022)
Sector Statistics
Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) for the month of July 2022 was N190.01, indicating a 14.53% increase when compared to the value recorded in July 2021 (N165.91). Likewise, comparing the average price value with the pre…
CPI and Inflation Report July 2022
CPI and Inflation
Executive Summary CPI for July 2022 was 463.6 relative to 387.5 in July 2021. In July 2022, on a year -on- year basis, the headline inflation rate was 19.64%. This was 2.27% points higher compared to the rate recorded in July 2021, which was (17.38 %). This shows that the headlin…
Transport Fare Watch (June 2022)
Sector Statistics
Executive Summary This report shows Transport Fare Watch for June 2022 covering the following categories: bus journey within the city per drop constant route; bus journey intercity, state route charged per person; air fare charge for specified routes single journey; journey by mo…
Selected Food Prices Watch (June 2022)
Sector Statistics
Executive Summary Selected Food Price Watch for the month of June 2022 shows that the average price of 1kg of beans (white, black eye, sold loose) rose on a year-on-year basis by 24.17% from N431.79 in June 2021 to N536.17 in June 2022. Also, on a month-on-month basis, this incre…
Liquefied Petroleum Gas (Cooking Gas) Price Watch (June 2022)
Sector Statistics
Executive Summary The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 7.57% on a month-on-month basis from N3,921.35 recorded in May 2022 to N4,218.38 in June 2022. On a year-on-year basis, this rose by 103.92% from N2,068.6…
National Household Kerosene Price Watch (June 2022)
Sector Statistics
Executive Summary The average retail price per litre of Household Kerosene (HHK) paid by consumers in June 2022 increased by 12.09% on a month-on-month basis from N679.54 in May 2022 to N761.69 in June 2022. On a year-on-year basis, the average retail price per litre rose by 105.…
Automotive Gas Oil (Diesel) Price Watch (June 2022)
Sector Statistics
Executive Summary The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 202.67% on a year-on-year basis from a lower cost of N242.43 per litre recorded in the corresponding month of last year to a higher cost of N733.78 per litre in June 2022. On…
Automotive Gas Oil (Diesel) Price Watch (July 2022)
Sector Statistics
Executive Summary The average retail price of Automotive Gas Oil (Diesel) paid by consumers in July 2022 was N774.38 per litre, an increase of 208.74% from N250.82 per litre recorded in the corresponding month of the previous year. On a month-on-month basis, this increased by 5.5…
Premium Motor Spirit (Petrol) Price Watch (June 2022)
Sector Statistics
Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) increased to N175.89 in June 2022, indicating a 6.21% increase when compared to the value recorded in June 2021 (N165.61). Likewise, on a month-on-month basis, the average retail price…
CPI and Inflation Report June 2022
CPI and Inflation
Executive Summary In June 2022, the inflation rate increased to 18.60 percent on a year-on-year basis. This is 0.84 percent points higher compared to the rate recorded in June 2021, which is 17.75 percent. This means that the headline inflation rate increased in the month of June…
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