According to data from the National Bureau of Statistics(NBS), the first quarter of 2018, the nominal year on year growth rate of Trade stood at -2.12%. This indicates a drop of 11.71% points when compared to the first quarter of 2017 and 5.24% points lower than the preceding quarter.-GDP
In nominal terms, Other Services grew by 2.71% (year-on-year) in Q1 2018. This growth rate is less than the 14.95% growth rate recorded in the same quarter of the previous year and lower than the growth rate of 4.52 % in Q4 2017 by 12.24 % points and 1.81% points respectively.
Nominal GDP growth of Manufacturing in the first Quarter of 2018 was recorded as 8.93% (year-on-year), – 7.70% points lower than figures recorded in the corresponding period of 2017 (16.63%) and -0.27% points lower than the preceding quarter figure of 9.20%. Quarter on the Quarter growth of the sector is recorded at – 1.04%.-GDP
In nominal terms, the Public Administration sector grew by -1.27 % in Q1 2018, lower by 12.00% points from the corresponding quarter of 2017 and lower by 1.84 points relative to Q4 2017. Quarter-on-Quarter, the sector grew by -16.34%.
Nominal growth in the Education sector in the first quarter of 2018 was 1.61% (year-on-year), down by 12.31% points from the growth of 13.92% reported in the corresponding quarter of 2017, but up by 0.24% points when compared to Q4 2017 growth rate of 1.37%
Crop Production is expectedly the major driver of the sector. This is evident as it accounts for 85.28% of the overall nominal growth of the Agriculture sector. In the first quarter of 2018, Agriculture contributed 17.42% to nominal GDP.
The non-oil sector grew by 0.76% in real terms during the reference quarter. This is higher by 0.04% point compared to the rate recorded same quarter of 2017 and 0.70% point lower than the fourth quarter of 2017.
Real growth of the oil sector was 14.77% (year-on-year) in Q1 2018. This represents an increase of 30.37% points relative to rate recorded in the corresponding quarter of 2017. Quarter-on-Quarter, the oil sector grew by 13.24% in Q1 2018.
For the first time on record, the sector to import the largest amount of capital was Servicing, which accounted for $130.98 million, or 20.24% of the total. —- Capital Importation
TPCN ENERGY SECTION
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Are these stats for real? I very much think that they are touting dubious figures. A cursory look at the North East and The Middle belt reveals a lot to cast doubt on the pushed numbers, the spate of killings and fleeing farmers from the ethnic cleansing going on ,perpetrated by Fulani Herdsmen makes it hard to achieve the projected growth figures in Agriculture. Please the reporter should query the NBS on these figures. Thank you.