Prof. Yemi Kale, head, NBS

By OBINNA EZUGWU

Figures released by the Nigerian Bureau of Statistics (NBS) on Monday has shown that the country’s Gross Domestic Products (GDP) grew by 2.55 percent in the last quarter of 2019, an improvement from the 1.91 percent recorded in the corresponding quarter of 2018.

A sector by sector breakdown of the report indicates a decline, however, in a number of sectors, including the oil sector which saw 6.36 percent growth from 6.49 percent in Q3 2019, but it was still a huge improvement from the -1.62 percent recorded in Q4 2018.

“Q4 2019 GDP grew by 2.55% compared to 2.28% in Q3 2019 & 2.38% in Q4 2018, to end the year with a 2019 GDP growth of 2.27% compared to 1.91% in 2018, 0.82% in 2017 and -1.58% in 2016,” the report said.

“Q4 2019 Oil GDP grew by 6.36% from 6.49% in Q3 2019 & -1.62% in Q4 2018. Q4 2019. Non oil GDP grew 2.26% from 1.85% in Q3 2018 & 2.70% in Q4 2018.Oil GDP at 4.59% for 2019 (0.97% in 2018).Non oil GDP at 2.06% for 2019 (2.0% in 2018)

“Agriculture GDP grew by 2.31% in Q4 2019 compared to 2.28% in Q3 2019 and 2.46% in Q4 2018. For 2019 Agric grew by 2.36% compared to 2.12% in 2018.

“Livestock under Agriculture GDP contracted by -0.20% in Q4 2019 compared to 0.02% in Q3 2019 and 2.35% in Q4 2018. For 2019 grew by 0.16% compared to 0.33% in 2018.

“Forestry under Agriculture GDP grew by 1.26% in Q4 2019 compared to 3.78% in Q3 2019 and 1.73% in Q4 2018. For 2019 Forestry grew by 2.59% compared to 3.06% in 2018.

“Fishing under Agriculture GDP grew by 2.33% in Q4 2019 compared to 1.68% in Q3 2019 and 1.97% in Q4 2018. For 2019 grew by 3.33% compared to 1.64% in 2018.

“Industry GDP grew by 2.75% in Q4 2019 compared to 3.21% in Q3 2019 and 0.95% in Q4 2018. For 2019 grew by 2.31% compared to 1.87% in 2018.

“Mining & Quarrying GDP grew by 6.07% in Q4 2019 compared to 6.19% in Q3 2019 and -1.23% in Q4 2018. For 2019 grew by 4.43% compared to 1.11% in 2018.

“Crude Petroleum and Natural Gas production under Mining & Quarrying GDP grew by 6.36% in Q4 2019 compared to 6.49% in Q3 2019 and -1.62% in Q4 2018. For 2019 grew by 4.59% compared to 0.97% in 2018

“Coal Mining under Mining & Quarrying GDP contracted by -12.32% in Q4 2019 compared to 32.19% in Q3 2019 and -18.78% in Q4 2018. For 2019 grew by 13.15% compared to -5.81% in 2018

“Metal ores under Mining & Quarrying GDP contracted by -2.11% in Q4 2019 compared to -7.44% in Q3 2019 and 8.41% in Q4 2018. For 2019 grew by -5.63% compared to 10.33% in 2018

“Quarrying and Other Minerals production under Mining & Quarrying GDP contracted by -5.63% in Q4 2019 compared to -14.02% in Q3 2019 and 20.95% in Q4 2018. For 2019 grew by 5.63% compared to 10.33% in 2018.”

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