Gross Domestic Product Growth Rate And Contribution To GDP (Transport Sector)
Real GDP at 1990 Base Year
Stalled growth, post-2005
Real GDP at 2010 Base Year
Weak growth post-2012, contraction in 2016
Gross Domestic Product Growth Rate: Growth in the sector which stalled in the second and third quarters of 2015 witnessed a considerable decline in 2015Q4; the stall in growth in 2015 is attributable to persisting underperformance in road transportation. However, the sectors growth increased dramatically in 2016Q1 (reaching nearly 15 percent) owing to the sharp rise of activities in the road transport sub sector, but fell sharply to about -5 percent in 2016Q2.
Contribution to GDP: The contribution of the sector to overall GDP growth, which has been fairly flat prior to 2014 took an upward trend afterward; particularly jumped in 2016Q1 following the new budget allocations for capital expenditure.
On average, Nigerias GDP growth rate has averaged about 5 percent; attaining an unusual trough of nearly -10 percent in 2003Q4 and a peak of nearly 20 percent in 2004Q4. However, the Nigerian economy
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
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
Crude Oil Price: Crude oil price attained a historical low of $30.7 in January 2016 largely due to excess global oil supply.
Crude Oil Production and Export: Oil production has continued to fall in