NBS Archives - Gifted Analysts

Nigeria’s inflation rate hits 19.64% in July 2022, the highest in 17 years

By Solomon Sele AyebawanaemiPosted on August 23, 2022Posted in Articles, Business & Finance, EconomyTagged Core inflation, Economy, Food prices, Inflation, NBS, NigeriaNo Comments

An examination of the NBS inflation data shows that this is the highest since September 2005 when the inflation rate hit 24.32% year-on-year. On a month-on-month basis, the headline inflation rose by 1.82% in July 2022. This is the same as the rate recorded in June 2022 (1.82% m/m). In our view, higher energy prices and continued depreciation of the local currency against the US Dollar were the key drivers behind this uptick.

FMN Plc: The Home of Good Food is Moving Beyond Levels

By Olayinka LamidiPosted on May 6, 2022Posted in Business & FinanceTagged Dividend, Flourmill, FMN, GDP, Inflation, NBS, Nigeria, Valuation1 Comment

Flour Mill of Nigeria Plc is one of the leading FMCG and a top market player in the flour-based product market. It is the first company to have constructed Nigeria’s first
wheat mill plant. With 60 years of success celebration, the firm has been able to diversify its core business of food through backward integration into other three revenue-generating segments which include Agro-allied, Sugar, and support services. Growth in these three classes of revenue has been impressive at a CAGR of 23.58%
over the past five years. These three segments reported total revenue of N293 billion (or 38.01% of total revenue) in FY-2021 compared to the N102 billion (or 19.4% of
total revenue) in FY-2017. The firm’s ability to expand its portfolio size with an explosive growth of this 23.58% CAGR validates its capacity to provide long-term value creation to shareholders while pursuing a de-risk business opportunity.

The Inflation Interplay in Nigeria

By Sheriffdeen AdeotiPosted on July 17, 2020Posted in EconomyTagged Exchange Rate, External Reserve, Foreign, Inflation Rate, NBS, Nigeria, South Africa, TradeNo Comments

Five years ago, 5 naira and 10 naira currency were a significant part of our national denomination, and you could walk into any shop and get sweets, biscuits for that amount. This same 5 and 10 naira are becoming hard to come by, with little or no purchasing power. Coins have gone into extinction, confined to the books of accounts only, telling us the currency keeps losing its value with the passage of time.

Continuous Increase in Inflation Rate: What will the CBN Do?

By Sheriffdeen AdeotiPosted on June 18, 2020Posted in EconomyTagged cbn, COVID-19, Inflation, Interest Rate, MPR, NBSNo Comments

Nigeria’s Headline inflation increased by 12.4% (year-on-year) in May 2020, 6bps (0.06%) higher than the rate recorded in the previous month (12.34%), marking a ninth consecutive month of increase in inflation since August 2019 (11.02%) and a 25-month high of April 2018 (12.48%). The 12.4% inflation rate means that on the average, if a goods cost NGN100 in May 2019, 12 months ago, the consumer will actually pay NGN112.4 for the same commodity in May 2020.

April 2020 Consumer Price Index Report: A continuous rise in Inflation

By Sheriffdeen AdeotiPosted on May 21, 2020Posted in Analytics, ArticlesTagged 2020, COVID-19, CPI, Inflation, Inflation Rate, NBSNo Comments

The consumer price index, (CPI) increased by 12.34% (year-on-year) in April 2020. This is 8bps higher than the rate recorded in March 2020 (12.26%). This is the eighth consecutive month of increase since August 2019 (11.02%) and the highest level since April 2018 (12.48%).

CPI Report for March 2020: A steady rise in inflation to 12.26%

By Sheriffdeen AdeotiPosted on April 21, 2020Posted in ArticlesTagged Coronavirus, COVID-19, CPI, Inflation, NBSNo Comments

The CPI (Consumer Price Index) calculates the average over time increase in prices of products and services purchased by people on a regular basis. The monthly Statistics released by the NBS stands at 12.26%. March 2020 reports a 12.26% steady increase Year on Year from 12.20% in February 2020. Data obtained from the National Bureau […]

Q3 2019 GDP: Nigeria Records its Second Highest Quarterly Real Growth Rate Since 2016

By Abdulazeez KurangaPosted on November 22, 2019Posted in ArticlesTagged GDP, IMF, NBS, Nigeria, World1 Comment

Nominal and Real GDP Explained The GDP (a measure of the size of an economy) is the monetary value of all goods and services produced in a country during a given period of time and it can be calculated on either quarterly and/or annual basis. As an example, the monetary value of the rice sold […]

Average Official Exchange Rate Increases by 132% in 14 Years; External Reserve Grew by 51%

By Abdulazeez KurangaPosted on October 16, 2019Posted in Analytics, ArticlesTagged and External Reserve, cbn, Exchange Rate, in Nigeria, NBS, Relationship between2 Comments

From 2005 to 2018, the average rate of exchange has increased by 132% while the external reserve increased by 51% from $28.3bn in 2005 to N42.6bn in 2018. This shows that the change in both exchange rate and external reserve is not proportional and whenever there is a decline in external reserve, the CBN tends to devalue the naira much more than the decline in external reserve.

Nigeria Exports N557.66bln Worth of Agricultural Produce in Two Years as it Earns N31.65 trillion from Crude Oil Export During the Same Period

By Abdulazeez KurangaPosted on October 12, 2019Posted in Analytics, ArticlesTagged Agricultural Export, Crude Oil, Export, Fuel Import, NBS, NigeriaNo Comments

In this article, we will be particularly concerned about the total value of Nigeria’s agricultural export from Q2 2017 to Q2 2019 (Since Nigeria emerged from the 2016 economic recession in Q2 2017), while also looking at the drivers of country’s total agricultural export and the contribution of crude oil to Nigeria’s total export.

Significant Relationship among the Components of a Misery Index: The Nigerian Scenario

By Abdulazeez KurangaPosted on October 7, 2019Posted in Analytics, Articles, TrainingTagged analysis, EVIEWS, GDP, IMF, Inflation, Lending Rate, NBS, Nigeria, Regression, Relationship, UnemploymentNo Comments

The misery index is a measure of how miserable the citizens of a country can be at a particular period of time. It is measured by evaluating the addition of Inflation Rate, Unemployment Rate and Lending rate, minus Year-On-Year growth in GDP per Capita. This shows that the higher the misery index, the more the […]

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