-
Telecoms GDP Increases By 10%
According to the National Bureau of Statistics, the contributions of telecommunications to the nation’s real Gross Domestic Product increased by 10.52 per cent year-on-year. This increase was to N7.28 trillion in the first nine months of 2022. In the corresponding period of 2021, the sector contributed N6.58 trillion to real GDP. NBS said that the…
-
Nigeria’s Growth DropTo 2.25% In Q3’22
The National Bureau of Statistics has disclosed that Nigeria’s Gross Domestic Product, GDP, fell quarter-on-quarter (QoQ) by 1.78 percentage points to 2.25 per cent in the third quarter of 2022 (Q3’22). This is a drop from the 3.54 per cent recorded in Q2’22. NBS said this in its Nigerian GDP report for Q3’22, citing the…
-
Nigeria’s GDP Grows By 3.54%
Data published by the National Bureau of Statistics has revealed that Nigeria’s gross domestic product grew by 3.54 percent, Year-on-Year, in the second quarter of 2022. The GDP grew from 3.11 percent in Q1 2022 and declined to 5.01% in the second quarter of 2021. In addition, the recent rising prices have adversely impacted on…
-
Nigeria’s GDP Grew By 3.11% In Q1 2022
Nigeria’s Gross Domestic Product grew by 3.11 per cent in the first quarter of 2022. The National Bureau of Statistics disclosed this in its Nigerian Gross Domestic Product Report Q1, 2022. It stated that, “Nigeria’s Gross Domestic Product grew by 3.11 per cent (year-on-year) in real terms in the first quarter of 2022, showing a…
-
Reviewing Nigeria’s 2021 GDP Growth (1)
The National Bureau of Statistics has reported that the country’s Gross Domestic Product increased by 4.03 percent in the third quarter of 2021. This is contained in its Gross Domestic Product Report Expenditure and Income Approach report for Q3, Q4 2021. According to the report, in the third quarter of 2021, Nigeria’s real GDP at…
-
South Africa Reports 1.2% Economic Growth In The Last Quarter Of 2021
A new report focused on the final quarter of 2021 showed an expansion in South Africa’s economy following recovery in the agriculture and manufacturing industries. Data from Statistics South Africa said gross domestic product (GDP) grew by 1.2% quarter on quarter in the last three months of 2021 following a contraction of 1.7% in the…
-
Mining, Quarrying Sector Contributed N5.37tn To GDP In 2021
According to the National Bureau of Statistics, the mining and quarrying sector recorded a total contribution of N5.37tn to the Gross Domestic Product in 2021. This was according to the data obtained from the Gross Domestic Product for the year under review. The N5.37tn was, however, a decline when compared to the N5.82tn recorded in…
-
Manufacturing Sector GDP Rises 3.35%
Analysis of the Q4 2021 Gross Domestic Product report of the National Bureau of Statistics has shown that the manufacturing sector bounced back to growth with N6.5 trillion in 2021, representing 3.35 per cent growth from N6.29 trillion in 2020. The sector had recorded a contraction of 2.75 per cent in 2020 from N6.47 trillion…
-
How Nigeria’s 2021 GDP Beats Projections
The National Bureau of Statistics, in its quarterly report, has published that the country’s Gross Domestic Product grew by 3.98 percent in the fourth quarter of 2021. This, which is considered as the strongest growth since 2014, translates to 3.4 percent as the annual GDP growth for 2021. According to the bureau, “Nigeria Gross Domestic…
-
Banks, Others Contribute N2.3trn To Economy
Findings from the Gross Domestic Product released by the National Bureau of Statistics Q4 2021 report has shown that Banks and other financial institutions excluding insurance, contributed N2.3 trillion to the nation’s real GDP, in 2021. This is up by 10.5 per cent from 2.1 trillion in 2020. The contribution of banks and other financial…