Nigeria’s real Gross Domestic Product plunged to 2.35 per cent in the second quarter of 2015, compared to 6.54 per cent in the same period last year, the National Bureau of Statistics said on Tuesday.
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Statistician-General of the Federation and Chief Executive
Officer, National Bureau of Statistics, Dr. Yemi Kale
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The country’s economic growth rate for the second quarter represents a 40 per cent decline from the 3.96 per cent recorded in the first quarter of this year.
The GDP is a measure of economic activity which captures the value of goods and services that a country produces during a given period.
The Statistician-General of the Federation/Chief Executive Officer, NBS, Dr. Yemi Kale, while releasing the GDP report for the second quarter of 2015 on his Twitter account, said, “Real GDP grows by 2.35 per cent in the second quarter of 2015 from 3.96 per cent in first quarter of 2015 and 6.54 per cent in Q2 2014.”
He said oil GDP grew by -6.79 per cent in the second quarter compared to -8.15 per cent in Q1 2015 and 5.14 per cent in the second quarter of last year.”
Kale said, “Electricity, gas, steam, etc grew by -11.61 per cent in Q2 2015, compared to -27.92 per cent in Q1 2015 and -20.57 per cent in Q2 2014. Manufacturing grew by -3.82 per cent in Q2 2015, compared to -0.70 per cent in Q1 2015 and 14.01 per cent in Q2 2014.
“Industry grew by -3.31 per cent in Q2 2015 compared to -2.53 per cent in Q1 2015 and 8.97 per cent in Q2 2014. Accommodation and food services grew by -8.97 per cent in Q2 2015 compared to 26.66 per cent in Q1 2015 and 23.86 per cent in Q2 2014.”
Public administration grew by -10.64 per cent, compared to -12.53 per cent in first quarter of 2015 and 1.17 per cent in the second quarter of last year, while mining and quarrying grew by -6.62 per cent in Q2 2015, compared to -7.91 per cent in Q1 2015 and 5.32 per cent in Q2 2014.
Non-oil GDP growth fell to 3.46 per cent in the second quarter, compared to 5.59 per cent in the first quarter of the year and 6.71 per cent in the second quarter of 2014, the NBS said
“Agric GDP grew by 3.49 per cent in Q2 2015 compared to 4.70 per cent in Q1 2015 and 3.68 per cent in Q2 2014. Finance and insurance grew by 6.41per cent in Q2 2015 compared to 9.01 per cent in Q1 2015 and 7.00 per cent in Q1 2014.”
According to the report, Construction grew by 6.42 per cent, down from 11.17 per cent in the first quarter of 2015 and 10.70 per cent in Q2 2014.
“Information and communication grew by 6.26 per cent in Q2 2015 compared to 9.49 per cent in Q1 2015 and 7.95 per cent in Q1 2014. Services grew by 4.67 per cent in Q2 2015 compared to 7.04 per cent in Q2 2015 and 6.54 per cent in Q1 2014.”
Punch report.
Everything is crumbling.
ReplyDeleteBuhari's 100 wasted days in office.
And your wasted 35 years on earth is pathetic too. Aunty gwegs.
DeleteOga statistician or wateva u r called,please take several seats with your analysis. We r not interested in all these ur mumbo jumbo. All the while that the GDP was higher than what it is now, how did the poor masses fare? Did it stop the suffering of the poor masses? Did it make their lives better in any way. Quit deceiving us please. It was the same issue that made some people nickname NOI madam GDP. How come the GDP is not affecting the per capita income? Abeg don't annoy me this morning. Mtchew!
ReplyDeleteStory! All I know is dat there isn't. Money in d. System! Pipu are hungry!
ReplyDeleteBuhari, no one says you should not probe the whole nigeria but sir, I beg you to also pay attention to our economy.
ReplyDeleteCHANGE!!!
ReplyDeleteAll will be well
ReplyDeleteOh dear
ReplyDeleteAll these percentage you people are giving and using it to deceive us. just put it in a lay man language that the economy is not improving.
ReplyDeletehungry man does not know percentage when hunger waya him.
Bubu my love pls make the economy better.
ReplyDeleteWhen is the change coming
ReplyDeleteSai Baba"CHANGE"!!!!!!!!
ReplyDeleteStill watching and waiting for the CHANGI.
Hmnnn! Our dwindling economy is no doubt part of the change
ReplyDelete