Gross Domestic Product And Contribution To GDP
Real GDP at 1990 Base Year
GDP growth in agric. sector relatively flat post-2004
Real GDP at 2010 Base Year
GDP growth in the agric. sector picks up in 2016Q1
Gross Domestic Product: Agriculture Gross Domestic Product growth rate recorded its highest point in 2006Q1 but fell sharply subsequently. Particularly, the slow growth recorded in 2015 and 2016Q1 is attributable to security challenges in the North Eastern part of Nigeria and slowdown of economic activities in the country.
Contribution to GDP: The agricultural sector contributed about 40 percent to overall GDP until the rebasing of the GDP in 2012 bringing the contribution of the agricultural sector below 30 percent. While the agricultural sector remains the second contributor to GDP, its contribution to GDP fell in 2016Q1 is attributable to the seasonal nature of farming.
Related
Capital Importation: Given the positive outlook on the ITC sector in the past few years, investments in the sector reached a 10-year peak in 2014. However, the foreign investment fell marginally in 2
Net Foreign Exchange Flows through the Nigerian Economy: The recent fall in foreign exchange earnings reflects the decline in both oil sector receipts from CBN, and non-oil sector inflows from autonom
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
Tax Collected: Tax revenue which has relatively maintained an upward trend, fell considerably in 2015 and dipped significantly in early 2016 on the account of economic downturn, as many businesses sev
