Gross Domestic Product Growth Rate And Contribution To GDP
Real GDP at 1990 Base Year
Oil and gas sector GDP growth peak in 2003 Q2-Q3
Real GDP at 2010 Base Year
Oil and gas sector performing poorly, post-2013
Gross Domestic Product Growth Rate: The growth performance of the Oil and Gas sector has been unsteady throughout years and declined most significantly in 2015Q4, following a positive growth recorded in 2015Q3. The poor growth performance could be attributed to the negative exogenous shocks being experienced by most oil exporters.
Contribution to GDP: The sectors contribution to overall GDP has steadily declined since 2004 reflecting the low level of composite value addition to the Nigerian economy.
Net Domestic Credit: Rising net credit to government and private sector have driven the upward trend in NDC, especially post-2008. In 2016Q1, NDC grew largely on the account of the rise in banking sec
Export and its Components: In 2015 and 2016Q1, overall export earnings declined significantly to a record low of less than $3000 million in 2016Q1, as against the peak of above $10,000 million in 2008
Capital Importation: Foreign investment into the agricultural sector was relatively flat between 2007 and 2012 but gained unusual momentum in September 2015. The spike in 2015 is likely driven by the
Capital Importation: Investment in the oil and gas sector has remained low since 2009. However, investments into the sector fell more deeply in 2015, on the account of persistent global and domestic c