Macroeconomic Report & Economic Updates

June 15, 2018

Nigeria Economic Update (Issue 20)

Recently released GDP report for the first quarter of 2018 shows a stronger growth in GDP, relative to the corresponding quarter of 2017. Driven particularly by growth in the Oil sector, Real GDP grew by 1.95 percent (Year-on-Year) in 2018Q11. In terms of sectoral growth, oil sector rose remarkably to 14.77 percent, a 30.37 percent […]

Download Label
March 13, 2018 - 4:00 am
application/pdf
984.49 kB
v.1.7 (stable)
Read →

Recently released GDP report for the first quarter of 2018 shows a stronger growth in GDP, relative to the corresponding quarter of 2017. Driven particularly by growth in the Oil sector, Real GDP grew by 1.95 percent (Year-on-Year) in 2018Q11. In terms of sectoral growth, oil sector rose remarkably to 14.77 percent, a 30.37 percent increase from 2017Q1. Non-oil sector grew by 0.76 percent (Year on Year), slightly up from 0.8 percent- this marginal increase was driven mainly by Agriculture (Crop production), in addition to Manufacturing, Financial institutions and insurance, Transportation and Storage, and Information and Communication




Related

 

Nigeria Economic Update (Issue 45)

Recently released report by Nigeria Extractive Industries Transparency Initiative (NEITI)shows a significant decline in revenue allocation across the three tiers of government for 2016H1 (January to June). Specifically, total disbursements dropped (year-on-year) by 30.45 percent to N2.01 trillion in 2016H1. The drop in revenue allocations is accountable to the decline in both oil and non-oil revenue. While lower oil revenue was triggered by the drastic fall in oil price and production in 2016H1, lower non-oil revenue was driven by the decline in tax revenue occasioned by contraction in economic activities in the review half-year.