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CPI and Inflation Report September 2024
CPI and Inflation
Executive Summary In September 2024, the Headline inflation rate was 32.70% relative to the August 2024 headline inflation rate of 32.15%. Looking at the movement, the September 2024 Headline inflation rate showed an increase of 0.55% compared to the August 2024 Headline inflatio…
Electricity Report Q2 2024
Sector Statistics
Executive Summary Total customer numbers in Q2 2024 stood at 12.99 million from 12.33 million in Q1 2024, showing an increase of 5.35%. On a year-on-year basis, customer numbers in Q2 2024 rose by 13.24% from 11.47 million reported in Q2 2023. Similarly, metered customers stood a…
Nigeria Capital Importation Q2 2024
Business and Finance
Key Highlights In Q2 2024, total capital importation into Nigeria stood at US$2,604.50 million, higher than US$1,030.21 million recorded in Q2 2023, indicating an increase of 152.81%. In comparison to the preceding quarter, capital importation declined by 22.85% from US$3,376.01…
Cost of Healthy Diet August 2024
Sector Statistics
Key Highlights The Cost of a Healthy Diet (CoHD) is the least expensive combination of locally available items that meets globally consistent food-based dietary guidelines. It is used as a measure of physical and economic access to healthy diets. This is a lower bound (or floor)…
Commodity Price Indices and Terms of Trade (Q2 2024)
International Trade
Key Highlights Between April and June 2024 (Jan 2018=100): • The All-Commodity Group Import Index for Q2, 2024 on average increased by 0.15 per cent. The increase can be attributed to the changes in import prices of Mineral prod ucts, "Articles of stone, plaster, cement, asb…
Selected Food Prices Watch (August 2024)
Sector Statistics
Executive Summary Selected Food Price Watch for August 2024 shows that the average price of 1kg beans brown (sold loose) stood at N2,574.63. This indicates a rise of 271.55% in price on a year-on-year basis from N692.95 recorded in August 2023 and a 5.31% rise in price on a month…
Nigeria Labour Force Survey Q1 2024
Labour
Transport Fare Watch (August 2024)
Sector Statistics
Executive Summary Transport Fare Watch for August 2024 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) p…
Federation Account Allocation Committee (FAAC) (July 2024 Disbursement)
Business and Finance
Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N2.68trn to the three tiers of government in July 2024 from the total revenue generated in June 2024. The amount dis bursed comprised N1,432..67bn from the Statutory Account, N472.19bn from Ex change…
National Household Kerosene Price Watch (August 2024)
Sector Statistics
Executive Summary The average retail price per litre of Household Kerosene (HHK) paid by consumers in August 2024 was N1,847.59, showing an increase of 4.39% compared to N1,769.86 recorded in July 2024. On a year-on-year basis, the average retail price per litre of the product ro…
Liquefied Petroleum Gas (Cooking Gas) Price Watch (August 2024)
Sector Statistics
Executive Summary The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 7.62% on a month-on-month basis from N5,974.55 recorded in July 2024 to N6,430.02 in August 2024. On a year-on-year basis, this increased by 56.25% from N…
Premium Motor Spirit (Petrol) Price Watch (August 2024)
Sector Statistics
Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) for August 2024 was N830.46, indicating a 32.51% increase compared to the value recorded in August 2023 (N626.70). Likewise, comparing the average price value with the previous month (.…
Automotive Gas Oil (Diesel) Price Watch (August 2024)
Sector Statistics
Executive Summary The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 64.58% on a year-on-year basis from a lower cost of N854.32 per liter recorded in the corresponding month of last year (i.e., August 2023) to a higher cost of N1,406.05 Per li…
Rail Transportation Data (Q2 2024)
Sector Statistics
Key Highlights In Q2 2024, a total of 689,263 passengers travelled via rail system relative to 474,117 report ed in the corresponding quarter of 2023, indicating a growth rate of 45.38%. The volume of goods/cargo transported via rail in Q2 2024 stood at 143,759 tons compared to 5…
Foreign Trade in Goods Statistics (Q2 2024)
International Trade
Summary Nigeria's total merchandise trade stood at N31,892.46 billion in Q2, 2024 representing a decrease of 3.76% over the value recorded in the preceding quarter and a rise of 150.39% compared to the value recorded in the corresponding period of 2023. In the quarter under revie…
CPI and Inflation Report August 2024
CPI and Inflation
Executive Summary In August 2024, the headline inflation rate further eased to 32.15% relative to the July 2024 headline inflation rate of 33.40%. Looking at the movement, the August 2024 headline inflation rate showed a decrease of 1.25% points when compared to the July 2024 hea…
Company Income Tax Q2 2024
Sector Statistics
Executive Summary On the aggregate, Company Income Tax (CIT) for Q2 2024 was reported at N2.47 trillion, in dicating a growth rate of 150.,83% on a quarter-on-quarter basis from N984.61 billion in Q1 2024. Local payments received were N1.35 trillion, while Foreign CIT Payment con…
Value Added Tax (VAT) Q2 2024
Sector Statistics
Executive Summary On the aggregate, Value Added Tax (VAT) for Q2 2024 was reported at N1.56 trillion, show ing a growth rate of 9.11% on a quarter-on-quarter basis from N1.43 trillion in Q1 2024. Lo cal payments recorded were N792.58 billion, Foreign VAT Payments were N395.74 bil…
Cost of Healthy Diet July 2024
Sector Statistics
Highlights The Cost of a Healthy Diet (CoHD) is the least expensive combination of locally available items that meets globally consistent food-based dietary guidelines. It is used as a measure of physical and economic access to healthy diets. This is a lower bound (or floor) of t…
Nigeria Gross Domestic Product Q2 2024
Gross Domestic Product
Summary Nigeria's Gross Domestic Product (GDP) grew by 3.19% (year-on-year) in real terms in the second quarter of 2024. This growth rate is higher than the 2.51% recorded in the second quarter of 2023 and higher than the first quarter of 2024 growth of 2.98%. The performance of…
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