According to a recent public statement by the National Bureau of Statistics, Nigeria’s Gross Domestic Product has increased by 2.8 percent from a year ago, as cited by Bloomberg Business News. This was reportedly announced by the bureau in an e-mail on Tuesday.
According to the data, the oil sector has increased by 1.06% in the third quarter (Q3), and made a 10.27% increase in Nigeria’s total GDP. Agricultural output increased by 3.46%, manufacturing by 4.80% and trade and services by 14.68% in nominal terms during the slated period.
This occurred despite an estimated 60 percent decrease in crude prices since June 2014.
Sources: Bloomberg Business; Channels News
