Nigeria’s gross domestic product (GDP), which measures the worth of economic activities, crashed to its lowest since 1991 in the first quarter of 2016.
According to the GDP report released by the Nigerian Bureau of Statistics on Friday, the country’s economy crashed to a 25-year low of -0.36 percent.
NBS says Q1 GDP declined to -0.36 percent from 2.11 percent in Q4 2015 and 3.96 percent in Q1 2015.
The last time the Nigeria economy grew below 1 percent was in 1999, a few months after the return of democracy in May, 1999.
According to World Bank figures, the economy had a regression of -0.3 percent in 1995, and -0.6 percent in 1991.
Yemi Kale, the statistician general of the federation, who unveiled the report added that the oil, industries, power and manufacturing sectors of the economy shrunk in the period under review.
“Oil GDP estimated at -1.89% from -8.28% in q4 2015 and -8.15% in q1 2015 and non-oil GDP at -0.18% from 3.14% in q4 2015 & 5.59% in q1 2015,” he wrote from the report.
“Electricity and gas GDP at -44.4% in q1 2016 from 1.20% and -27.92% in q4 and q1 2015 respectively. Industries GDP at -5.49% in q1 2016 from -3.04% in q4 2015 & -2.53% in q1 2015.
“Manufacturing GDP at -7.0% in q1 2016 from 0.38% and -0.70% in q4 and q1 2015 respectively. Other (light)manufacturing GDP at -12.22% in q1 2016 from -1.06% and -5.67% in q4 and q1 2015 respectively.

source : https://www.thecable.ng/just-nigerias-gdp-crashes-25-year-low

Why won't our GDP decline when our economy is recessing

Nigeria sef

The poster below me shaa....want to steal my FTC spot, forgetting am using etisalat 4g
Try another time swthrt @ severussnape

Waiting for seun to credit my bank account

Twenty five year low!... Meaning it hasn't crashed this bad since when I was born. Buhari has finally finished this country.

Zombies, Please come and blame Jonathan.

The dullard Buhari is an economic terrorist.

Chai dvllard Don finish us.... Watch how zombies would avoid this thread. Thank God for delivering me from zombieism

All thanks to buhari and his economic team.

Some people say Buhari is d best thing that happened to Nigeria.

Well those that voted change should enjoy their change. Later a geopolitical zone will say na dem go school pass and we'll educated and exposed but dem open their eye vote Buhari.. wat an irony...

*sips my vodka with coke*

cindybella101:
Why won't our GDP decline when our economy is recessing

Nigeria sef

The poster below me shaa....want to steal my FTC spot, forgetting am using etisalat 4g
Try another time swthrt @ Severus Snape

Waiting for se*un to credit my bank account

Seriously, You really floored me.

*rushing to get an Etisalat sim*

SeverusSnape:


Seriously, You really floored me.

*rushing to get an Etisalat sim*

The earlier....the better

Please somebody tell me what to say. I checked my weight on a scale yesterday I droped from 72kg to 68kg. This is despite I am healthy and I have not f**k this year. Everything is droping

.

The dullard have really bastardized the country!

kossyablaze:
Chai dvllard Don finish us.... Watch how zombies would avoid this thread. Thank God for delivering me from zombieism

Amen!

Lalasticlala front page

Another feather to the cap of the Dullard in Chief!

Other achievements that beats Guinness world records is Zero Megawatt of Electricity! We are still watching and counting!

Congratulations PMB! RIDE ON, THE ZOMBIES ARE BEHIND YOU!

What is going on?

We need another Nehemiah

What do you expect when you vote a general who refused to develop himself after many years of leaving government.
As negligent as it looks/sounds... Education is an important criteria to man's cerebral capability and an essential tool to measure everyman's astuteness to discernability of pressing issues.

Unfortunately....

Buhari is using Abacus to solve rocket-science theories and economic indices

Nigeria will have to wait 20 million light years for Buhari to give us his answers.

cindybella101:
Why won't our GDP decline when our economy is recessing

Nigeria sef

The poster below me shaa....want to steal my FTC spot, forgetting am using etisalat 4g
Try another time swthrt @ severussnape

Waiting for seun to credit my bank account

lolz...keep waiting for alert.

youngeagle:
The dullard have really bastardized the country!

****

Yes we are not happy with this administration but abusing of the office and personality of a president is nonsensical.

Be a reasonable wailer

Wake me up when it gets to -40%. It must get there.

Nigerians are the only people in the world that voted an illiterate as a President and expect him to serve like Obama.

Sai BARBER

North Korea should test their nuke on this country. I'm afraid it's almost finished for this country.

It just keeps getting "better".


We the 5% saw through the lies & propaganda.

Zombies be like Nigerian Bureau of Statistics are full of ipod yoots!!

Nigeria GDP crash to 25 year low?
What kind of misleading headline is that?

Someone doesn't know that wisdom is profitable to direct,develop,expand and grow...

But NO he prefers force,violence,propaganda,nepotism and polarization along ethnic and political lines.
Blaming everyone else aside himself and his clueless subordinates.
While witchhunting in the name of fighting corruption with no integrity or consideration for the common man.
You speak out because the suffering is too much,his zombies tag u a wailer.
How can u beat a child and expect the child not to cry?is that not wickedness?

This is what you get and more to come when a man thinks he is wise in his own eyes but is indeed the opposite in reality.

May God help,guide and support Nigeria through this dark days.

We warned Nigerians before voting a primitive grandfather as a president.

As many that partake in this APC scam of making this dead brain Nigeria president, may your happiness evaporate as our rebased and unrebase GDP is evaporating.

Shame on APC and as many still standing with the evil party of no joy.

The bridge is falling apart.