Real Estate Overtakes Crude Oil in Contributions to Nigeria’s GDP
The real estate sector now contributes more to Nigeria’s GDP than crude oil. That’s according to the Nigeria Bureau of Statistics (NBS), the country’s official data bank. The sector now ranks third in terms of its share of Nigeria’s economic output, just behind crop production and trade. Read more about Real Estate Information concerning […]
The National Bureau of Statistics Releases GDP Report for Q4 2016
The National Bureau of Statistics on Tuesday published its report on Nigeria’s Gross Domestic Product for the fourth quarter of 2016. The report, which summarizes the performance of the various sectors of the Nigerian economy in the last three months of the year gone by, shows a continuing but slowing decline in the nation’s economic […]
The National Bureau of Statistics Plans to Have a Census of Businesses Next Year
The National Bureau of Statistics wants to embark on a census of businesses in 2017. The institution aims to get a clearer picture of what the country’s business and industrial landscape looks like, and use the data collected to build a more comprehensive GDP estimate for the country. The Statistician General of the Federation, Yemi […]
The NBS’s Report on Nigeria’s GDP for Q3 2016: The Silver Lining You Probably Missed
On Monday, the National Bureau of Statistics (NBS) let the public into its summary of Nigeria’s economic performance in the months of July, August and September- the third quarter (Q3) of 2016. Its assessment, grim as it was, didn’t shock most observers- the oil sector shrank by a monumental 22% points, casting a dark shadow […]
Nigeria is the 26th Largest Economy in the World and Africa’s Biggest Economy
Nigeria becomes the 26th largest economy in the world as it has re-based its nominal gross domestic product (GDP), with estimates from $285.56 billion to $509.9 billion. The new nominal GDP places Nigeria ahead of countries like Austria with $394.7 billion, Venezuela with $381.26 billion, Columbia with $369.6 billion, Thailand with $365.96 billion, Malaysia with […]
E-commerce will propel Nigeria’s GDP – Shagaya
CEO of Konga, Sim Shagaya pointed out that electronic e-commerce is a very important driver of Nigeria’s Gross Domestic Product (GDP). He noted that the use of ICT helps to bridge the unemployment gap in Nigeria. He said this as one of the panelist at the recently concluded Economist Summit held in Lagos. Last month, […]
Nigeria’s Economic Market Size now $247 Billion – Report
Mediafacts, an annual publication of MediaReach OMD, has revealed that Nigeria’s economic market size is around $247 billion (₦39.52 trillion). This is about 41 percent of the Gross Domestic Product (GDP) of West Africa. The report also says, “the sheer market size has placed the country among the top African economies and a destination of choice […]