Economy: Nigeria’s GDP Increases As Non-Oil Sector Grows By 0.41% - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
May 20, 2019
The National Bureau ofStatistics, NBS said Nigeria’s Gross Domestic Product recorded a positivegrowth as the non-oil sector grew in real terms by 0.41 per cent in firstquarter of 2019.
The bureau in its“Nigerian GDP Report for first quarter, 2019” posted on its website said theGDP grew by 2.01 per cent in real terms year-on-year in the period underreview.
It said the non-oilsector recorded a GDP growth rate of 90.86 per cent in the first quarter 2019compared to 90.45 per cent recorded in the first quarter of 2018.
On a quarter-on-quarterbasis, it said the non-oil sector, however, declined in real terms to 2.47 percent in the first quarter, 2019 compared to 2.7 per cent recorded in the fourthquarter, 2018.
Meanwhile, it said thecontribution of the oil sector to the GDP declined by -0.41 per cent in theperiod under review.
It said the oil sectorgrew by 9.14 per cent in the first quarter 2019, compared to 9.55 per centrecorded in the fourth quarter 2018.