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.
FDI, FPI and other Investments: Portfolio investment has continued to fall rapidly since 2014, while FDI inflows remain subdued since 2010
Internally Generated Revenue: Total internally generated revenue particularly declined across the 36 states in Nigeria, in 2015. This is attributable to the weak macroeconomic and financial conditions
Appropriation Act (Budget): Capital expenditure remarkably increased in 2016 relative to preceding year, on the account of the present governments renewed commitment to infrastructure development.
Capital Importation: Overall capital imported into the manufacturing sector fell deeply in 2015 and has remained low in 2016H1 on the account of present FOREX issues affecting businesses in the sector