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Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by postbox: 9:25pm On Feb 27, 2018 |
Nigeria’s gross domestic product grew 1.92 percent in the last quarter of 2017 compared with a 1.73 percent contraction in the same period the previous year, the National Bureau of Statistics said on Tuesday. Nigeria’s economy returned to growth in the second quarter of 2017 but the recovery has been fragile since it is largely due to higher oil prices. The International Monetary Fund (IMF) said in December that the economy remains vulnerable. This growth is compared to a contraction of –1.73% recorded in Q4 2016 and a growth of 1.40% recorded in Q 2017. Quarter on quarter, real GDP growth was 4.29%. The year 2017 recorded a real annual growth rate of 0.83% higher by 2.42% than –1.58% recorded in 2016. In the quarter under review, aggregate GDP stood at N31,209,137.74million in nominal terms higher when compared to N29,169,058.99 million in Q4 2016, resulting in a Nominal GDP growth of 6.99%. This growth is lower relative to growth recorded in Q4 2016 at 12.49%. Nominally, 2017 recorded an annual growth rate of 12.05% higher by 4.25% compared to 2016 annual growth of 7.80%. The broad classification into the oil and non-oil sectors will give a clearer depiction of the Nigerian economy. The Oil Sector In the period under review, Oil production averaged at 1.91million barrels per day (mbpd), -0.12million barrels lower than the daily average production recorded in the third quarter of 2017. Oil production during the quarter was higher by 0.15million barrels per day relative to the corresponding quarter in 2016, which recorded an output of 1.76mbpd. The Non-Oil Sector The non-oil sector grew by 1.45% in real terms during the reference quarter. This is higher by 1.78% point compared to the rate recorded same quarter, 2016 and 2.21% point higher than in the third quarter of 2017. The non-oil sector recorded an annual growth of 0.47% compared to –0.22 in 2016. This sector was driven this quarter mainly by Agriculture (Crop), Trade and Transportation and storage. In real terms, the Non-Oil sector contributed 92.83% to the nation’s GDP, lower from share recorded in the fourth quarter of 2016 (93.25%) but higher than in the third quarter of 2017 (89.96%). Annual contribution was 91.32% and 91.65% in 2016. SOURCE: https://brandspurng.com/nigerias-economy-grew-1-92-in-q4-2017-0-83-for-full-year-2017/
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Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by Pixeldesign: 9:54pm On Feb 27, 2018 |
Is it growing inward or outward... All this announcement of growth with no tangible signs 5 Likes 3 Shares |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by BrandSpurNG: 6:57am On Feb 28, 2018 |
interesting |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by Adegokenath(m): 7:25am On Feb 28, 2018 |
Na lai jo 4 Likes 1 Share |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by abiolag(m): 7:25am On Feb 28, 2018 |
We will get there |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by Nenejeje(f): 7:26am On Feb 28, 2018 |
lol.. but in reality, it is the opposite keep deceiving yourselves 1 Like |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by wildernessVoice: 7:28am On Feb 28, 2018 |
postbox: Economy grew, terrorism escalate Revealed: How Irigwe People Now Experience Daily Killings By Alleged Herdsmen, Number Of Dead Persons Rises To 100  By admin on February 27, 2018 0 192 Views Yakubu Busari Killings in Miango communities of Bassa Local Government Area of Plateau state has left at least no fewer than 26 villages have been razed down by the alleged Fulani herdsmen attackers leaving as they also had killed about 99 people killed, while 44 people has been injured, and 863 houses razed down with food bans inclusive. The Youth PRO , Comrade Lawrence Zogo confirmed that about 347 hectares of farm land producing dry season crops were destroyed and that they were worth millions of naira, 15 motor bikes and a bus was also burnt, while 24 irrigation water pumps weren’t also speared by the exterminators . However, Comrade Lawrence Zogo said ,Federal and State Government under their watchful eyes has abandoned 23, 000 IDPs mostly Men, Women, Children are living below one dollar per day as poverty level has hit the people of Miango who are predominantly farmers . Information available to this medium revealed that in the last five months, from September, 7th 2017 to February 10th 2018 the people of Miango villages in Bassa LGA of Plateau State are gruesomely murdered everyday by the attackers marauding as Fulani herdsmen on expansion agenda of wiping the entire race. According to the statements, the people have estimated loss of billions of naira from damage done to their hectares of farmlands yet federal, state commence didn’t show sympathy to their plight. Comrade Lawrence said the numerous attacks which began in Ncha village on 7th September, 2017 with the gruesome killings of more than twenty people, mostly made up of women and children murdered in cold blood in their sleep, as he said that houses were also razed down completely. Since that fateful day, peace has eluded the Irigwe nation. He explained further that after the Ncha incident, the assailants have continued to launch nightly unexpected attacks in other communities in line with their threat that Ncha was just the beginning. Ever since then, we have continually woken up to news of attacks each day leaving tears, sorrow, despair and apprehension. For the avoidance of doubt, below are details of some of the attacks after Ncha https://universalreportersng.com/revealed-how-irigwe-people-now-experience-daily-killings-by-alleged-herdsmen-number-of-dead-persons-rises-to-100/ 4 Likes 1 Share |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by Temptee101(m): 7:29am On Feb 28, 2018 |
Where is the growth? The only growth that is visible here is growth in: Growth in corruption and Growth in buhari's dullness 7 Likes 2 Shares |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by Nobody: 7:31am On Feb 28, 2018 |
This early morning |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by Maziebuka01(m): 7:34am On Feb 28, 2018 |
Na so. Wen it starts growing we shall know |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by dotcomnamename: 7:35am On Feb 28, 2018 |
Wailers will commit suicide today 4 Likes |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by rodeo0070(m): 7:36am On Feb 28, 2018 |
Can't wait for single digit inflation in 2019. This is the 13th consecutive month that Nigeria has experienced a drop in inflation. Hopefully this continues till 2019 and beyond. GDP growth in 2017 not bad at all especially from those dead numbers and situations see were in 2016. Fourth consecutive quarter of GDP growth. Weak, we may call it but growing and restoring confidence 3 Likes |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by dotcomnamename: 7:36am On Feb 28, 2018 |
[s] Temptee101:[/s] 1 Like 1 Share
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Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by MrPresident1: 7:37am On Feb 28, 2018 |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by BruncleZuma: 7:40am On Feb 28, 2018 |
As compared against itself... Wawuu...meanwhile trumpet blowers will shield their eyes from the figures in red. |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by telim: 7:44am On Feb 28, 2018 |
This yeye growth only reflected in the pockets of our politicians and the so called friends of government. Most Nigerians experience a decline in there income making it difficult for them to meet there basics needs, even the grasses in my hood are malnourished. We hope things will get better but to be honest since APC imposed Saint prophet Muhammed ibn Buhari on us the economic data have most time being on the negative side. 2 Likes 1 Share |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by san316(m): 7:47am On Feb 28, 2018 |
Paper development. A gani a kasa, inji kare a gidan biki. We don hear this one tire during GEJ |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by FarahAideed: 7:49am On Feb 28, 2018 |
The |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by Winning123: 7:53am On Feb 28, 2018 |
When you fall sick and start recovering, do you immediately get back to fitness? Stop embarrassing yourself with stupid comments Pixeldesign: 1 Like |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by Hofbrauhaus(m): 7:54am On Feb 28, 2018 |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by kings09(m): 7:55am On Feb 28, 2018 |
Wat an achievement. Lets hail sai baba on hw d fulani herdsmen n zombies r growing d economy in paper n rate of deaths |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by FarahAideed: 7:56am On Feb 28, 2018 |
Yjey |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by Nobody: 8:06am On Feb 28, 2018 |
Well...good news. HOWEVER 1.Oil prices are rising...and since our economy is linked to how well oil does .....it should rise. 2.Bubu and Emefiele did increase our reserves to $40bn....from 28bn in 2015....and while it isn't a very large amount...it does increase investor confidence. 3.I would break out the rare champagne only WHEN OUR economic growth is linked to/the result of growth in manufacturing...and I mean manufacturing...not in our ability to keep on importing. 1 Like 1 Share |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by kcfresh110: 8:26am On Feb 28, 2018 |
ok |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by tetralogyfallot(m): 8:31am On Feb 28, 2018 |
This administration can lie o |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by emmanuelcrawler(m): 8:34am On Feb 28, 2018 |
Datz hiw Buhari will grow to Daura��������� |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by loomer: 8:49am On Feb 28, 2018 |
I never hear say something grow and people no dey notice o. |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by GavelSlam: 8:52am On Feb 28, 2018 |
Cromcruach91: Fine. Please tell us what you produce. |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by oz4real83(m): 8:56am On Feb 28, 2018 |
Any economic growth that is tied with oil is an artificial growth and can collapse anytime. The only type of growth that will be beneficial to everybody is the one that is tied to agriculture,manufacturing,transportation,banking,tourism and other services. That is how to know a good and balanced economy,Oil growth-sector can be zero percent but other important sectors will be 80percent and above! 3 Likes |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by erico2k2(m): 8:59am On Feb 28, 2018 |
Pixeldesign:2wards thier pocket |
Re: Nigeria’s Economy Grew 1.92% In Q4 2017 & 0.83% For Full Year 2017 by mekaboy(m): 8:59am On Feb 28, 2018 |
Growing in cows. 1 Like |
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