The Personal Income Tax Rate in Nigeria stands at 24 percent. In Nigeria, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labor, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Nigeria. This page provides the latest reported value for - Nigeria Personal Income Tax Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Terms of Trade in Nigeria increased to 103.54 points in December from 100.73 points in November of 2019. Terms of Trade in Nigeria averaged 99.23 points from 2000 until 2019, reaching an all time high of 160.25 points in March of 2010 and a record low of 49.48 points in April of 2006. In Nigeria, Terms of Trade (ToT) correspond to the ratio of Price of exportable goods to the Price of importable goods. This page provides - Nigeria Terms Of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Government Spending in Nigeria decreased to 929917.32 NGN Million in the first quarter of 2019 from 1027351.08 NGN Million in the fourth quarter of 2018. Government Spending in Nigeria averaged 1015514.70 NGN Million from 2010 until 2019, reaching an all time high of 1615675.03 NGN Million in the fourth quarter of 2010 and a record low of 609792.40 NGN Million in the fourth quarter of 2017. Government Spending refers to public expenditure on goods and services and is a major component of the GDP. Government spending policies like setting up budget targets, adjusting taxation, increasing public expenditure and public works are very effective tools in influencing economic growth. This page provides - Nigeria Government Spending- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Consumer Price Index CPI in Nigeria increased to 315.20 points in March from 312.60 points in February of 2020. Consumer Price Index CPI in Nigeria averaged 105.02 points from 1995 until 2020, reaching an all time high of 315.20 points in March of 2020 and a record low of 14.36 points in January of 1995. In Nigeria, the Consumer Price Index or CPI measures changes in the prices paid by consumers for a basket of goods and services. This page provides - Nigeria Consumer Price Index (CPI) - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Cpi Housing Utilities in Nigeria increased to 299.40 points in March from 297.70 points in February of 2020. Cpi Housing Utilities in Nigeria averaged 105.35 points from 1995 until 2020, reaching an all time high of 299.40 points in March of 2020 and a record low of 7.80 points in January of 1995. This page provides - Nigeria Cpi Housing Utilities- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The transportation sub-index of the CPI basket in Nigeria increased to 285.50 points in March of 2020 from 283.40 points in February of 2020. CPI Transportation in Nigeria averaged 152.69 points from 2006 until 2020, reaching an all time high of 285.50 points in March of 2020 and a record low of 68.50 points in February of 2006. This page provides - Nigeria Cpi Transportation- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Core Consumer Prices in Nigeria increased to 287.30 points in March from 285.01 points in February of 2020. Core Consumer Prices in Nigeria averaged 153.70 points from 2006 until 2020, reaching an all time high of 287.30 points in March of 2020 and a record low of 69 points in January of 2006. This page provides - Nigeria Core Consumer Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Core consumer prices in Nigeria increased 9.70 percent in March of 2020 over the same month in the previous year. Core Inflation Rate in Nigeria averaged 10.21 percent from 2007 until 2020, reaching an all time high of 19.28 percent in January of 2007 and a record low of 0.49 percent in March of 2008. This page provides the latest reported value for - Nigeria Core Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Gasoline Prices in Nigeria decreased to 0.34 USD/Liter in April from 0.41 USD/Liter in March of 2020. Gasoline Prices in Nigeria averaged 0.44 USD/Liter from 1991 until 2020, reaching an all time high of 0.73 USD/Liter in May of 2016 and a record low of 0.02 USD/Liter in December of 1992. This page provides the latest reported value for - Nigeria Gasoline Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Foreign Exchange Reserves in Nigeria decreased to 33440 USD Million in April from 35160 USD Million in March of 2020. Foreign Exchange Reserves in Nigeria averaged 12105.08 USD Million from 1960 until 2020, reaching an all time high of 62081.86 USD Million in September of 2008 and a record low of 63.22 USD Million in June of 1968. This page provides - Nigeria Foreign Exchange Reserves - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Cash Reserve Ratio in Nigeria remained unchanged at 27.50 percent in May from 27.50 percent in April of 2020. Cash Reserve Ratio in Nigeria averaged 13.20 percent from 2007 until 2020, reaching an all time high of 31 percent in May of 2015 and a record low of 1 percent in April of 2009. This page provides - Nigeria Cash Reserve Ratio- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Rigs in Nigeria decreased to 16 in April from 21 in March of 2020. Crude Oil Rigs in Nigeria averaged 10.73 from 1995 until 2020, reaching an all time high of 23 in February of 2020 and a record low of 3 in January of 2000. This page provides - Nigeria Crude Oil Rigs- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Composite Pmi in Nigeria decreased to 37.10 points in April from 53.80 points in March of 2020. Composite Pmi in Nigeria averaged 53.57 points from 2014 until 2020, reaching an all time high of 59.10 points in May of 2018 and a record low of 37.10 points in April of 2020. The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index measures the performance of the private sector and is derived from a survey of 400 companies from agriculture, manufacturing, services, construction and retail. The Purchasing Managers’ Index is a composite index based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the private sector activity compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This page provides - Nigeria Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Manufacturing Pmi in Nigeria decreased to 51.10 points in March from 58.30 points in February of 2020. Manufacturing Pmi in Nigeria averaged 52.67 points from 2014 until 2020, reaching an all time high of 61.10 points in December of 2018 and a record low of 41.90 points in June of 2016. The Composite Manufacturing PMI measures the performance of the manufacturing sector and is derived from a survey of purchasing and supply executives from 13 locations in Nigeria. The survey shows the change, if any, in the current month compared with the previous month. The PMI is presented as an average of variables with the following weights: production level (25 percent), new orders (30 percent), supplier deliveries (15 percent) and employment level and inventories (20 percent). A reading above 50 indicates an expansion; below 50 represents a contraction; while 50 indicates no change. This page provides - Nigeria Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Services Pmi in Nigeria decreased to 49.20 points in March from 58.60 points in February of 2020. Services Pmi in Nigeria averaged 53.46 points from 2014 until 2020, reaching an all time high of 62.30 points in December of 2018 and a record low of 41 points in September of 2016. The Composite Non-Manufacturing PMI measures the performance of the non manufacturing sector and is derived from a survey of purchasing and supply executives from 13 locations in Nigeria. The survey shows the change, if any, in the current month compared with the previous month and is presented as an average of: production level (25 percent of weight), new orders (30 percent), supplier deliveries (15 percent) and employment level and inventories (20 percent). A reading above 50 indicates an expansion of the private sector activity compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This page provides - Nigeria Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The inflation rate in Nigeria was recorded at 12.26 percent in March of 2020. Inflation Rate in Nigeria averaged 12.42 percent from 1996 until 2020, reaching an all time high of 47.56 percent in January of 1996 and a record low of -2.49 percent in January of 2000. In Nigeria, the Consumer Price Index (CPI) measures the change over time in prices of 740 goods and services consumed by people for day-to-day living. The index weights are based on expenditures of both urban and rural households in the 36 states. The most important categories in the CPI are Food and Non Alcoholic Beverages (51.8 percent of total weight); Housing, Water, Electricity, Gas and Other Fuel (16.7 percent) and Clothing and Footwear (7.7 percent). Transports account for 6.5 percent of total index and Furnishings and Household Equipment Maintenance for 5 percent. Education represents 3.9 percent of total weight, Health 3 percent, Miscellaneous Goods and Services 1.7 percent and Restaurants and Hotels 1.2 percent. Alcoholic Beverages, Tobacco and Kola account for 1.1 percent of total index, Communications for 0.7 percent and Recreation and Culture for the remaining 0.7 percent. This page provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Nigeria expanded 5.59 percent in the fourth quarter of 2019 over the previous quarter. GDP Growth Rate in Nigeria averaged 1.43 percent from 2010 until 2019, reaching an all time high of 10.59 percent in the third quarter of 2010 and a record low of -13.97 percent in the first quarter of 2016. Nigeria is one of the most developed countries in Africa. Services is the largest sector of the economy, accounting for about 50 percent of total GDP. One of the fastest growing segments in Services are Information and Communication, which together account for about 10 percent of the total output. Agriculture, which in the past was the biggest sector, now weights around 23 percent. Crude Petroleum and Natural Gas constitute only 11 percent of total GDP, while being the main exports. Industry and Construction account for the remaining 16 percent of GDP. This page provides - Nigeria GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Nigeria expanded 2.55 percent in the fourth quarter of 2019 over the same quarter of the previous year. GDP Annual Growth Rate in Nigeria averaged 3.80 percent from 1982 until 2019, reaching an all time high of 19.17 percent in the fourth quarter of 2004 and a record low of -7.81 percent in the fourth quarter of 1983. Nigeria is the biggest economy in Africa. Services is the largest sector of the economy, accounting for about 50 percent of total GDP. One of the fastest growing segments in Services are Information and Communication, which together account for about 10 percent of the total output. Agriculture, which in the past was the biggest sector, now weights around 23 percent. Crude Petroleum and Natural Gas constitute only 11 percent of total GDP, while being the main exports. Industry and Construction account for the remaining 16 percent of GDP. This page provides - Nigeria GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Standard & Poor's credit rating for Nigeria stands at B- with stable outlook. Moody's credit rating for Nigeria was last set at B2 with negative outlook. Fitch's credit rating for Nigeria was last reported at B with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Nigeria thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Nigeria as reported by major credit rating agencies.

Nigeria recorded 3912 Coronavirus Cases since the epidemic began, according to the World Health Organization (WHO). In addition, Nigeria reported 117 Coronavirus Deaths. This page includes a chart with historical data for Nigeria Coronavirus Cases.

Nigeria recorded 117 Coronavirus Deaths since the epidemic began, according to the World Health Organization (WHO). In addition, Nigeria reported 3912 Coronavirus Cases. This page includes a chart with historical data for Nigeria Coronavirus Deaths.

Nigeria recorded 679 Coronavirus Recovered since the epidemic began, according to the World Health Organization (WHO). In addition, Nigeria reported 117 Coronavirus Deaths. This page includes a chart with historical data for Nigeria Coronavirus Recovered.

Fiscal Expenditure in Nigeria decreased to 2074.46 NGN Billion in the fourth quarter of 2019 from 2414.03 NGN Billion in the third quarter of 2019. Fiscal Expenditure in Nigeria averaged 1369.56 NGN Billion from 2010 until 2019, reaching an all time high of 2514.02 NGN Billion in the first quarter of 2019 and a record low of 743.65 NGN Billion in the first quarter of 2011. This page provides - Nigeria Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Remittances in Nigeria increased to 5925.68 USD Million in the fourth quarter of 2019 from 5783 USD Million in the third quarter of 2019. Remittances in Nigeria averaged 5148.62 USD Million from 2008 until 2019, reaching an all time high of 6270.24 USD Million in the fourth quarter of 2018 and a record low of 3836.61 USD Million in the third quarter of 2008. This page provides - Nigeria Remittances- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The stocks of goods held by firms in Nigeria increased by 156043.05 NGN Million in the first quarter of 2019. Changes In Inventories in Nigeria averaged 108138.59 NGN Million from 2010 until 2019, reaching an all time high of 178909.34 NGN Million in the second quarter of 2018 and a record low of 32488.05 NGN Million in the first quarter of 2011. This page provides - Nigeria Changes In Inventories - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria Three Month Interbank Rate (Nibor) was at 8.01 percent on Friday May 8. Interbank Rate in Nigeria averaged 13.76 percent from 2007 until 2020, reaching an all time high of 38.96 percent in September of 2013 and a record low of 0 percent in November of 2017. The interbank rate is the rate of interest charged on short-term loans made between banks in the local currency. This page provides - Nigeria Interbank Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Cost of food in Nigeria increased 14.98 percent in March of 2020 over the same month in the previous year. Food Inflation in Nigeria averaged 11.70 percent from 1996 until 2020, reaching an all time high of 39.54 percent in September of 2001 and a record low of -17.50 percent in January of 2000. This page provides - Nigeria Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Africa’s biggest crude exporter seeks $7bn in emergency funds in face of imminent recession

A self-effacing intellectual who rose to the very centre of power

Benin crossing has been shut for three months, halting trade on vital frontier

Legislation cuts taxes for some enterprises while increasing VAT

November 2019 could mark when Nigeria (arguably) became Africa’s unofficial capital for fintech investment and digital finance startups. The month saw $360 million invested in Nigerian-focused payment ventures. That is equivalent to roughly one-third of all the startup VC raised for the entire continent in 2018, according to Partech stats. A notable trend-within-the-trend is that […]

Akim Aliu, a Nigerian-born hockey player, has revealed another racist episode in which a minor league equipment manager dressed in blackface at a team Halloween party in 2011.

The man, named only as Antoine, who got out the prison two months ago, heard one of his notes had been found by Florence Widdicombe in London (pictured) after he returned home to Nigeria.

The man, known only as L2 for legal reasons, who was associated with friends of Lee Rigby's killer Michael Adebolajo and Jihadi John, had his UK citizenship revoked by Theresa May in 2013.

This week Bel Mooney advises a man, 74, whose children disapprove of his relationship with a 39-year-old single mother from Nigeria.

Guro Reiten opened the scoring with a deflected shot in the 16th minute before Lisa-Marie Utland doubled their lead just after the half-hour mark with just her fifth touch of the game.

Already-qualified hosts France preserved their perfect record to top Group A with a 1-0 win against 10-woman Nigeria thanks to Wendie Renard's 79th minute penalty.

Germany booked their place in the Women's World Cup quarter-finals with a confident win over Nigeria. Alexandra Popp, Lea Schuller and Sara Dabritz scored the goals to secure victory.

Nigeria produced a second-half comeback to beat Cameroon 3-2 and book their place in the quarter-finals of the Africa Cup of Nations. The Super Eagles had taken an early lead.

Footage filmed by a passenger on the aircraft captures the man as he moves around the wing of the plane at the international airport in Lagos on Friday.

PC Khafi Kareem, 29, from the Metropolitan Police (pictured with Commissioner Cressida Dick) was warned not to take part in the show but was granted unpaid leave and entered.

PC Khafi Kareem (pictured) continued to appeal to viewers for support despite her London colleagues expressing concern that she'd tarnished the reputation of the Met.

Nigeria have launched an ambitious attempt to convince Chelsea striker Tammy Abraham to snub England and represent the Super Eagles at international level.

Oluwaleke Yisa told an immigration officer 'I want to leave this f*****g country' during an appointment at the Home Office's Becket House, Bermondsey, on 20 August.

Chelsea striker Tammy Abraham has refused to rule out switching his allegiance to Nigeria.  Abraham is currently the joint-leading scorer in the Premier League this season.

Abraham, who has scored seven goals in his last three games, has already been capped by England at senior level. But, as his one cap came in a friendly he could still switch allegiance to Nigeria.

The 21-year-old was born in Canada to Nigerian parents, but moved to Gravesend when he was a baby. He has played for Canada's Under 20 team and for England's Under 20 and Under 21 teams.

Samuel Jolumi, 27, Ishola Sunday, 28, Toheeb Popoola, 27, and Joberto McGee, 20, appeared at the Old Bailey in London and denied attempting to hijack the ship, making threats to kill, and affray.

The detainees, mostly children, emerged from the building in Kaduna with chains on their hands and feet and horrific scarring after police raided it following an anonymous tip-off.