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Nigeria’s textile, apparel and footwear industry remained in contraction for a sixth consecutive quarter in the second quarter (Q2) of 2026. Data from the National Bureau of Statistics showed that the textile, apparel and footwear subsector contracted by 1.23 percent year-on-year in real terms in Q2 2026, following a 1.22 percent decline in the first […]
The post
The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained relatively stable on Tuesday, September 1, 2026, as the United States dollar traded at N1,400 on the buying side and N1,410 on the selling side across major Bureau De Change (BDC) markets. According to information obtained from Bureau […]
The post
Nigeria’s electricity sector contracted by 10.63 percent in the second quarter (Q2) of 2026, wiping about N66.85 billion from its inflation-adjusted output despite the broader economy expanding by 4.43 percent during the period. Data from the National Bureau of Statistics (NBS) showed that real output from Electricity, Gas, Steam and Air Conditioning Supply fell to […]
Nigeria’s average crude oil production increased by 170,000 barrels per day in the second quarter (Q2) of 2026, lifting output to 1.72 million barrels per day as the oil sector recorded stronger economic growth during the period. Data from the National Bureau of Statistics (NBS) showed that average production rose from 1.55 million barrels per […]
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Nigeria’s telecommunications industry added nearly N489 billion to real economic output in the second quarter (Q2) of 2026 as the sector expanded 10.38 percent year-on-year and increased its contribution to national GDP. Data from the National Bureau of Statistics (NBS) showed that real output from Telecommunications and Information Services rose to N5.20 trillion in Q2 […]