Nigeria Records 54 Percent Increase In Capital Importation

Nigeria is the largest economy in Africa.
Nigeria is the largest economy in Africa.

 

The value of capital importation into the country grew by 54 percent to $5.85 billion in the first quarter of the year 2020 from $3.8 billion recorded in the fourth quarter of 2019.

The National Bureau of Statistics (NBS) disclosed this on Monday in its Q1 2020 Capital Importation Report.

The data from the NBS shows the largest amount of capital importation by type was received through portfolio investment, which accounted for 73.61 percent of total capital.

This is followed by other investments, accounting for 22.73 percent, and foreign direct investment, which accounted for 3.66 percent of total capital imported in Q1 2020.

By sector, banks dominated capital importation in the period under review by $2.99 billion while the United Kingdom emerged as the top source of capital investment in Nigeria with $2.90 billion.

By destination of investment, Lagos State emerged as the top destination of capital investment in Nigeria in Q1 2019 with $5.13 billion accounting for 87.72 percent of the total capital inflow in Q1 2020.

Nigeria’s Economy Slows By -0.68% In First Quarter Of 2020 – NBS

Nigeria's GDP Falls 2.24% In 3rd Quarter of 2016

 

Nigeria’s economy witnessed a slow-paced growth of -0.68% in the first quarter of 2020 as the country’s Gross Domestic Product (GDP) contracted by 1.87% when compared to the fourth quarter of 2019.

In the latest GDP report published by the National Bureau of Statistics (NBS) on Monday, Nigeria’s slow economic growth was attributed to the effects of significant global disruptions resulting from the COVID-19 pandemic, a sharp fall in oil prices and restricted international trade.

Year on year, the economy also dragged by –0.23% points when compared to Q1 2019, while Quarter on quarter, real GDP growth was –14.27% compared to 5.59% recorded in the preceding quarter.

The statistical agency said in the quarter under review, aggregate GDP stood at N35,647,406.08 million in nominal terms.

“This performance was higher when compared to the first quarter of 2019 which recorded N31,824,349.67 million, with a nominal growth rate of 12.01% year on year.

“Relative to the first quarter of 2019, the nominal growth rate was higher by 0.11% points but lower than the preceding quarter by –0.32% points.”

In the first quarter of 2020, Nigeria sustained the daily average oil production of 2.07 million barrels per day (mbpd), when compared to the 1.99mbpd recorded in the same quarter of 2019.

The report stated that the country’s oil sector recorded a real growth rate of 5.06% (year-on-year) in Q1 2020 indicating an increase of 6.51% points relative to the rate recorded in the corresponding quarter of 2019.

“Quarter-on-quarter, the oil sector recorded a growth rate of 11.30% in Q1 2020. The Oil sector contributed 9.50% to aggregate real GDP in Q1 2020, up from figures recorded in the corresponding period of 2019 and the preceding quarter, as the share of the non-oil economy declined.”

Meanwhile, the non-oil sector grew by 1.55% in real terms during the reference quarter, but slower by –0.93% points year on year.

The report showed that the non-oil sector was driven mainly by “Information and Communication (Telecommunications), Financial and Insurance (Financial Institutions), Agriculture (Crop Production), Mining and Quarrying (Crude Petroleum & Natural Gas), and Construction”.

It added that the non-oil sector contributed 90.50% to the nation’s GDP in the first quarter of 2020, less than its share in the first quarter of 2019 which was 90.78% and the fourth quarter of 2019 recorded as 92.68%.

Nearly 83 Million Nigerians Are Considered Poor – NBS

Nigeria's GDP Falls 2.24% In 3rd Quarter of 2016

 

A report by the National Bureau of Statistics (NBS) has revealed that over 82.9 million Nigerians are currently living below the national poverty line, excluding Borno State.

In its 2019 Poverty and Inequality in Nigeria Report released on Monday after a decade since it was last done, the NBS stated that the figure represents 40.1 per cent of the citizens.

According to the report, northern states rank poorest with the highest poverty rate recorded in Sokoto State, which accounted for 87.73 per cent while Lagos had the lowest rate with 4.50 per cent.

The NBS explained that poverty rates were measured using consumption expenditures rather than income in the country.

It also stated that measurement for the national poverty line was based on a welfare aggregate – regionally adjusted per capita in the households where the value of per capita total consumption expenditure was below or equal to consumption expenditures across all households.

A further revised breakdown of the report revealed that 52.1 per cent of rural dwellers in Nigeria were poor and 18.04 per cent of urban dwellers classified as poor.

On average, four out of 10 individuals are estimated to have real per capita expenditures below N137,430 per annum, which translates to N376.5 kobo per day.

The NBS added that the survey collected data on household and individual demographics (age, gender, marital status, among others) and their access to education, health and basic services, employment, assets, and income, using Computer Assisted Personal Interviewing (CAPI) software on tablet devices.

Nigeria Records Highest Inflation Rate In Almost Two Years

Inflation Rate Drops For 14th Consecutive Time
A file photo of some food items at a market.

 

 

Nigeria’s headline inflation rate for March 2020 rose marginally by 0.06 percent points higher than the 12.20 percent rate recorded in February.

The National Bureau of Statistics (NBS) disclosed this in its report released on Tuesday.

According to the report released after a few days delay, the figures rose marginally by 0.06 per cent points to put the Consumer Price Index at 12.26 per cent (year on year) in March, the highest since April 2018.

Similarly, the composite food index rose to 14.98 per cent, largely driven by an increase in basic food prices.

The ‘All items less farm produce,’ also known as core inflation, which excludes the prices of volatile agricultural produce, stood at 9.73 per cent in March 2020.

This represents an increase of 0.3 per cent when compared with the 9.43 per cent recorded in February 2020.

 

Source: NBS

 

The urban inflation rate also rose to 12.93 per cent, while the rural inflation rate moved up to 11.64 per cent, year-on-year in the previous month.

While gathering the data, the NBS noted the lockdown ordered by President Muhammadu Buhari in Abuja, Lagos and Ogun States, to curb the spread of coronavirus in the country.

It also took note of the several disruptions to normal economic activities in several other states which began in April but stated that they did not have any major impact on the March 2020 Inflation which the report focused on.

“The corresponding twelve-month year-on-year average percentage change for the urban index was 12.15 per cent in March 2020 (this is higher than 12.03 per cent reported in February 2020), while the corresponding rural inflation rate in March 2020 was 11.14 per cent compared to 11.09 per cent recorded in February 2020,” the report read.

Nigeria Records Highest Quarterly GDP Growth Since 2016 Recession

Source: NBS

 

 

The nation’s Gross Domestic Product (GDP) has recorded a growth of 2.55 per cent (year-on-year) in real terms in the fourth quarter of 2019, the highest since the recession in 2016.

This was revealed in the latest report released by the National Bureau of Statistics (NBS) and obtained by Channels Television on Monday.

The figure shows an increase of 0.17 per cent points compared to the fourth quarter of 2018 which recorded a growth rate of 2.38 per cent.

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According to the data agency, the GDP growth also represents an increase of 0.27 per cent points when compared with the third quarter of the year under review.

“The strong fourth quarter 2019 growth rate also represented the highest quarterly growth performance since the 2016 recession.

“Overall, this resulted in annual 2019 real growth rate of 2.27%, compared to 1.91% in 2018. Quarter on quarter, real GDP growth was 5.59%,” the report stated.

In the last quarter of 2019, the NBS said the nation’s aggregate GDP stood at N39,577,340.04 million in nominal terms.

It explained that this was higher than the fourth quarter of 2018 which recorded an aggregate of N35,230,607.63 million, representing year on year nominal growth rate of 12.34 per cent.

The agency stressed that the rate was –0.31 per points lower relative to the rate recorded in the fourth quarter of 2018, and –0.96 per cent points lower than the rate recorded in the preceding quarter.

Food Prices Push Inflation Up To 12.13% In January

Inflation Rate Drops For 14th Consecutive Time
A file photo taken at a food market

 

Data from the National Bureau of Statistics (NBS) shows that food prices have forced Nigeria’s inflation for the month of January 2020 to hit 12.13 percent, recording five months of consecutive increase.

The increase is 0.15 percent points higher than the rate recorded in December 2019 (11.98 percent).

The report from NBS released on Tuesday stated that the composite food index rose by 14.85 percent in January 2020 compared to 14.67 percent in December 2019, and

It revealed that the rise in the food index was caused by increases in prices of Bread and Cereals, Meat, Oils and fats, Potatoes, yam and other tubers and Fish.

“In January 2020, food inflation on a year on year basis was highest in Sokoto (19.08%), Ogun (18.72%) and Nasarawa (17.07%), while Bayelsa (12.91%), Delta (11.57%) and Benue (11.33%) recorded the slowest rise.”

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On a month on month basis, food inflation was highest in Ondo (2.95%), Anambra (2.61%) and Abuja (2.57%), while Benue, Kogi and River recorded price deflation.

Meanwhile, urban inflation rate increased by 12.78 percent in January 2020, while the rural inflation rate increased by 11.54 percent in the same month in review.

The country’s inflation rate had dropped from 11.40% in May 2019 to 11.02% recorded in August, but the recent rise in inflation started in September with 11.24%.

The Central Bank of Nigeria Governor, Mr Godwin Emefiele, expressed his displeasure at the inflationary pressure but was quick to assure that the trend will witness an immediate turnaround.

In October 2019, it rose to 11.61% which experts believe the rise in inflation rate may be connected to the ongoing border closure which had made it difficult for products to be exported and imported into the country through the land borders.

But NBS noted in its inflation report that the border closure had not started to reflect on the economy as the border was only closed on 20th August 2019

The month of November was no different as it witnessed a third consecutive rise to 11.85 Percent even as the effects of the border closure bit harder on consumer goods.

Again in December, inflation increased by 11.98, higher than the 11.85 percent recorded in November, with composite food index rising by 14.67 percent.

Food Prices Drove Nigeria’s Inflation Rate To 11.85 Percent In November

 

Nigeria’s inflation increased by 11.85 percent in November 2019, due to a rise in the prices of food commodities, gaining 0.24 percent points higher than the rate recorded in October 2019 (11.61) percent.

This is according to the National Bureau of Statistics (NBS) CPI and Inflation Report for November 2019.

“The composite food index rose by 14.48 percent in November 2019 compared to 14.09 percent in October 2019. This rise in the food index was caused by increases in prices of Bread, Cereals, Oils and fats, Meat, Potatoes,
Yam and other tubers, and Fish.”

On a month-on-month basis, the Headline index increased by 1.02 percent in November 2019, a 0.05 percent rate lower than the rate recorded in October 2019 (1.07) percent.

The report also noted that the urban inflation rate grew by 12.47 percent (year-on-year) in November 2019 from 12.20 percent recorded in October 2019, while the rural inflation rate increased by 11.30 percent in November 2019 from 11.07 percent in October 2019.

“On a month-on-month basis, the urban index rose by 1.07 percent in November 2019, down by 0.08 from 1.15 percent recorded in October 2019, while the rural index also rose by 0.98 0 percent in November 2019, down by 0.01 from the rate recorded in October 2019 (0.99) percent.”

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Also, the composite food index rose by 14.48 percent in November 2019 compared to 14.09 percent in October 2019.

The report attributed the rise in the food index to increases in prices of Bread, Cereals, Oils and fats, Meat, Potatoes, yam and other tubers, and Fish.

Analysing the inflationary rates by state, the report noted that all items inflation on year on year basis was highest in Kebbi (15.40%), Sokoto (14.58%) and Niger (14.15%), while Imo (10.43%), Abuja (10.30%) and Kwara (9.70%) recorded the slowest rise in headline Year on Year inflation.

“In November 2019, food inflation on a year on year basis was highest in Sokoto (18.77%), Kebbi (18.08%) and Ekiti (17.18%), while Katsina (12.61%), Bayelsa (12.50%) and Bauchi (12.44%) recorded the slowest rise.”

The percentage change in the average composite CPI for the twelve months period ending November 2019 over the average of the CPI for the previous twelve months period was 11.35 percent, representing a 0.05 percent point from 11.30 percent recorded in October 2019.

Nigeria’s VAT Revenue Increases In 2019 Second Quarter

 

The Nigerian Government has generated the sum of N311.94 billion from Value Added Tax (VAT) in the second quarter of 2019.

The National Bureau of Statistics (NBS) disclosed this in a report titled ‘Sectoral Distribution Of Value Added Tax (Q2 2019)’ published on Tuesday.

In the report, the figure generated in the Q2 is higher than the N289.04 billion generated in the first quarter of the year in review.

It revealed that other manufacturing generated the highest amount of VAT with a sum of N34.43billion.

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According to the NBS, this is closely followed by Professional Services which generated N29.58bn, while Commercial and Trading generated N16.27bn and Mining generated the least with a figure of N50.60millon.

The agency explained that the data used in preparing the report were provided by the Federal Inland Revenue Service (FIRS) and verified and validated by the NBS.

The Executive Summary of the report read:

Sectoral distribution of Value Added Tax (VAT) data for Q2 2019 reflected that the sum of N311.94bn was generated as VAT in Q2 2019 as against N289.04bn generated in Q1 2019 and N269.79bn generated in Q2 2018 representing 7.92% increase QoQ and 16.95% increase YoY.

Other manufacturing generated the highest amount of VAT with N34.43bn generated and closely followed by Professional Services generating N29.58bn, Commercial and Trading generating N16.27bn while Mining generated the least and closely followed by Pharmaceutical, Soaps & Toiletries and Textile and Garment Industry with N50.60mln, N250.09mln and N316.91mln generated respectively.

Out of the total amount generated in Q2 2019, N151.56bn was generated as Non-Import VAT locally while N94.90bn was generated as Non-Import VAT for foreign. The balance of N65.48bn was generated as NCS-Import VAT.

Also, see the table below:

 Q1 2019 Q2 2019 * Quarter on Quarter % Year on  Year %
 Classification Value Added Tax Value Added Tax Q1 2019 / Q2 2019 Q2 2019 / Q2 2018
 Agricultural and Plantations                                     627,309,855.38                                     738,117,007.17                                     17.66                                   (5.54)
 Automobiles and Assemblies                                     421,443,588.76                                     481,438,702.64                                     14.24                                   (1.50)
 Banks & Financial Institutions                                  4,195,911,497.61                                  4,060,359,569.91                                     (3.23)                                (14.47)
 Breweries.Bottling and Beverages                                10,835,290,704.46                                11,272,962,075.34                                       4.04                                  19.49
 Building and Construction                                  2,744,836,873.65                                  2,400,570,624.59                                   (12.54)                                (10.14)
 Chemicals, Paints and Allied Industries                                     522,706,937.42                                     543,426,279.34                                       3.96                                  71.35
 Commercial and Trading                                14,924,509,446.19                                16,269,201,434.21                                       9.01                                     1.00
 Conglomerates                                  1,512,442,362.40                                  1,047,208,422.52                                   (30.76)                                   (7.99)
 Federal Ministries & Parastatals                                  7,937,268,043.87                                  8,109,935,510.66                                       2.18                                  46.15
 Gas                                  1,529,466,433.36                                  1,074,711,768.56                                   (29.73)                                (15.33)
 Hotels and Catering                                  1,615,988,078.22                                  2,124,908,064.49                                     31.49                                  31.38
 Local Government Councils                                     507,277,849.92                                     495,197,499.61                                     (2.38)                                  36.79
 Minning                                       59,884,887.89                                       50,598,095.44                                   (15.51)                                     5.74
 Not Available                                  4,016,993,631.69                                  3,768,879,140.15                                     (6.18)                                   (1.89)
 Offshore Operations                                     529,173,488.54                                     657,941,208.43                                     24.33                                  20.22
 Oil Marketing                                  2,340,806,300.43                                  1,996,390,157.13                                   (14.71)                                  15.43
 Oil Producing                                  8,490,827,446.86                                  7,811,745,534.66                                     (8.00)                                   (0.33)
 Other Manufacturig                                31,423,299,458.75                                34,429,042,995.83                                       9.57                                     6.07
 Petro-Chemical and Petroleum Refineries                                     956,166,806.78                                  1,198,575,081.52                                     25.35                                (15.91)
 Pharmaceutical,Soaps and Toileteries                                     201,580,318.33                                     250,092,740.05                                     24.07                                  63.03
 Pioneering                                  3,522,672,251.92                                  2,361,324,014.43                                   (32.97)                                  16.69
 Professional Services                                24,315,013,565.66                                29,583,674,334.79                                     21.67                                  47.79
 Properties and Investments                                     940,729,119.25                                  1,058,623,649.02                                     12.53                                   (1.55)
 Publishing,Printing, Paper Packaging                                     365,182,010.80                                     449,848,248.54                                     23.18                                (14.80)
 State Ministries & Parastatals                                  8,050,491,035.62                                10,445,379,901.29                                     29.75                                  11.90
 Stevedoring, Clearing and Forwarding                                  1,743,878,248.89                                  1,132,417,313.43                                   (35.06)                                (16.71)
 Textile and Garment industry                                     298,137,975.21                                     316,908,615.69                                       6.30                                   (8.44)
 Transport and Haulage Services                                  2,434,185,088.46                                  7,432,803,909.43                                  205.35                                278.15
 Sub-Total (Non-Import VAT) Local                              137,063,473,306.32                              151,562,281,898.87                                        10.58                                     17.33
 Non-Import (foreign) VAT                                98,967,007,748.51                                94,904,294,115.91–                                        4.11                                     16.92
 NCS-Import VAT                                53,007,856,392.82                                65,476,489,855.17                                        23.52                                     16.12
 Grand Total                     289,038,337,447.65                     311,943,065,869.95                                          7.92                                     16.95

Prices Of Tomatoes, Yam, Rice Decrease In June – NBS Report

Tomato disease, Kaduna, tomato blight, tomato farms
File photo.

 

 

The average price of major food items such as tomatoes, yam, and rice reduced in the month of June.

This is according to the ‘Selected Food Price Watch (June 2019)’ report published by the National Bureau of Statistics (NBS).

The report revealed that the average price of one kilogramme of tomatoes reduced from N317.67 recorded in June 2018 to N226.07 in June 2019, representing a 28.84 per cent decrease.

It added that the price of one kilogramme of tomatoes reduced from N249.52 recorded in May 2019 to N226.07 in June, also representing a 9.40 per cent reduction.

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NBS also disclosed in the report that the average cost of one kilogramme of rice (imported high quality sold loose) decreased from N373.47 in June 2018 to N352.82 in June 2019.

The price of one kilogramme of rice, according to it, reduced from N361.39 recorded in May 2019 to N352.82 in June 2019, representing a 2.37 per cent decrease.

The bureau explained that fieldwork was done solely by more than 700 NBS staff in all states across the country,

It added that the fieldwork was supported by supervisors who were monitored by internal and external observers.

NBS noted that the prices were collected across all the 774 local government areas, as well as the Federal Capital Territory (FCT) from over 10,000 respondents and locations, stressing that they reflect actual prices households said they actually bought the items.

It said the average of all the prices was reported for each state, adding that the average for the country was the average for the state.

The report read, “Selected food price watch data for June 2019 reflected that the average price of 1 dozen of Agric eggs medium size decreased year-on-year by -8.23% and increased month-on-month by 6.55% to N495.32 in June 2019 from N464.87 in May 2019, while the average price of piece of Agric eggs medium size (price of one) decreased year-on-year by -5.01% and month-on-month by -8.20% to N39.30 in June 2019 from N42.82 in May 2019.

“The average price of 1kg of tomato decreased year-on-year by -28.84% and month-on-month by -9.40% to N226.07 in June 2019 from N249.52 in May 2019.

“The average price of 1kg of rice (imported high quality sold loose) decreased year-on-year by -5.53% and month-on-month by -2.37% to N352.82 in June 2019 from N361.39 in May 2019.

“Similarly, the average price of 1kg of yam tuber decreased year-on-year by -36.27% and month-on-month by -15.68% to N182.15 in June 2019 from N216.03 in May 2019.”

Nigeria’s Inflation Rate Drops To 11.22 Percent In June

NBS, Bureau Of Statistics, Inflation Rate

 

 

Nigeria’s inflation eased sharply lower in June to 11.22 percent year on year, a 0.18 percent points decrease than 11.40 percent posted in May.

Latest data released by the National Bureau of Statistics (NBS) on Tuesday showed that the headline index fell to 1.07 percent on a month-on-month basis, indicating a decline of 0.04 percent points from the rate recorded in May.

“The consumer price index, (CPI) which measures inflation increased by 11.22 percent (year-on-year) in June 2019. This is 0.18 percent points lower than the rate recorded in May 2019 (11.40) percent.

“On a month-on-month basis, the Headline index increased by 1.07 percent in June 2019, this is 0.04 percent rate lower than the rate recorded in May 2019 (1.11) percent.”

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The urban inflation rate fell to 11.61 percent year-on-year in the month under review, while the rural inflation rate eased to 10.87 percent from 11.08 percent.

“The urban inflation rate increased by 11.61percent (year-on-year) in June 2019 from 11.76 percent recorded in May 2019, while the rural inflation rate increased by 10.87 percent in June 2019 from 11.08 percent in May 2019.

“On a month-on-month basis, the urban index rose by 1.10 percent in June 2019, up by 0.05 from 1.15 percent recorded in May 2019, while the rural index also rose by 1.05 percent in June 2019, up by 0.02 from the rate recorded in May 2019 (1.07) percent.”

The composite food index stood at 13.56 percent in June, compared to the previous months 13.79 percent as increases were recorded in prices of bread and cereals, meat, fish, vegetables and fruits among others.

“The composite food index stood at 13.56 percent in June 2019 compared to 13.79 percent in May 2019.”

This rise, according to the report, was caused by increases in prices of Bread and cereals, Meat, Oils and fats, Potatoes, yam and other tubers, Fish, Vegetables and fruits.

“On a month-on-month basis, the food sub-index increased by 1.36 percent in June 2019, down by 0.05 percent points from 1.41 percent recorded in May 2019.

“The average annual rate of change of the Food sub-index for the twelve-month period ending June 2019 over the previous twelve-month average was 13.42 percent, 0.05 percent points higher from the average annual rate of change recorded in May 2019 (13.37) percent.”

Lagos Adds 740,146 Jobs In 12 Months

Lagos Adds 740,146 Jobs In 12 Months

 

A total of 740, 146 jobs were added in Lagos State between July 2017 and June 2018, the National Bureau of Statistics (NBS) has revealed.

The agency made the disclosure in a report released recently after a survey it conducted, noting that the number of job creation recorded in Lagos was the highest in the country.

According to the report, only nine states were able to reduce unemployment and underemployment rates between the third quarter of 2017 and the corresponding quarter in 2018.

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They include Akwa Ibom, Enugu, Imo, Kaduna, Kogi, Lagos, Nasarawa, Ondo and Rivers, while six states also recorded the highest gains in net full-time employment between Q3 2017 and Q2 2018.

The states are Lagos which added a total of 740,146 net full-time jobs, Rivers (235,438), Imo (197,147), Ondo (142,514), Enugu (122,333), and Kaduna (118,929).

According to the NBS, people often move from state to state seeking job opportunities.

It said this could create a false impression of the status of states at a particular time by reducing the unemployment figures in some states and increasing it in other states.

The report read, “States with a higher propensity for women to be housewives or stay home husbands or that have negative attitudes to working tend to have lower unemployment rates, as they are not considered part of the labour force in the first place.

“These states tend to have a higher proportion of their economically active population outside the labour force, thereby reducing the number looking for work and hence the number that can be unemployed.”

Out of the five states with the highest unemployed population, Lagos also recorded the lowest rate of 14.6% during the period under reference.

Senate Confirms New Ambassadorial Nominees, NBS Board Members

Senate Confirms Ambassadorial Nominees, NBS Board Members
The Senate President, Dr Bukola Saraki, holds a gavel during plenary in Abuja on April 11, 2019.

 

The Senate has confirmed the nomination of three persons as Career Ambassadors-Designate.

The lawmakers also approved the appointment of the Chairman and members of the Board of National Bureau of Statistics (NBS) during plenary on Thursday.

This followed the presentation of the report of the Committee on Foreign Affairs on the nomination of the career ambassadors-designate by Senator Monsurat Sunmonu from Oyo State.

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Those whose nominations were confirmed are Mr Christopher Chejina, Mr Bukar Kolo, and Mr M Mabdul.

In his remarks, the Senate President, Dr Bukola Saraki, congratulated the new career ambassadors-designate.

He also wished them a successful tenure in their service to the nation.

Thereafter, Senator Yele Omogunwa from Ondo State laid the report of the Committee on National Planning and Economic Affairs on the nomination of the NBS board chairman and members.

After considering the report, the lawmakers confirmed Dr Kabiru Nakaura as the board chairman of the agency.

They also approved the appointment of five others as members of the board.

Those confirmed include Mr Akinola Bashir, Professor Moses Momoh, Wallijoh Ahijoh, Adam Modu, and Nwafor Chukwudi.

The Senate President also congratulated them and wished them a successful tenure.