Akwa Ibom emerged Highest GDP while Bayelsa best per capital in South east Nigeria according to NBS & CBN..

Akwa Ibom emerge the highest GDP in South east Nigeria dethroning River State since 2017 till date..

NBS Publishes Additional 11 States Nominal GDP From 2013 to 2017
Nigeria Economy
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May 28, 2020/ 04:50 PM/ NBS

GDP of an economy, including at State level, is a measure in monetary terms of production of all goods and services during a period. Like the compilation at the national level, State accounts statistics are based on the guidelines and recommendations set out in the System of National Accounts 2008 (SNA 2008). The System of National Accounts provides an internationally-recognised framework and a comprehensive set of concepts, definitions and classifications for national accounting. Additionally, other relevant guidelines adopted are the International Standard Industrial Classification of all Economic Activities (ISIC) as well as the Central Product Classification (CPC) system.



States GDP compilation is important and useful for various purposes. First, it provides important information to support evidence-based policymaking. It also helps to identify key drivers of economic growth in each state and assess the performance of the state economy. Further, by revealing the structure of the state economy, the contribution of each state to the national output can be determined.



Methodologically, National/State accounts describe all flows within a period between the economic units constituting the national /state economy and their stocks. As such, the States accounts can follow national accounts as long as one can clearly define and delineate a state, and its resident units in terms of institutional units, production units, consumer units within it. In short, SGDP is the sum of gross value added of all resident producer units (industries) within the economic borders of the state during a given period of time including taxes, less subsidies, on products.



The institutional units / sectors in the States include: Non-financial corporations (Flour Mills, Nestle, etc), Financial corporations (Banks, Insurance etc), State governments, Non-profit institutions serving households (NPISH) in the state, and Households. In compilation of SGDP, residence is not based on birth or legal criteria. Instead, an institutional unit is classified as resident if it has a centre of economic interest in the economic territory of a state. Certain activities cut across state boundaries, and thus their economic contribution cannot be assigned to any one state eg telecommunication, Railway line, Transportation, Banking & Insurance. Other activities like Defence, paramilitary, border security force, high sea drilling etc are kept outside the purview of the state GDP. Key data sources included in SGDP compilation include secondary/administrative data, surveys, financial statements, audited State government accounts and VAT returns, among others.



In practice, the compilation of Gross Domestic Product (GDP) estimates for sub-national units of the Federation has been a phased exercise at the National Bureau of Statistics since 2013. In the first phase, estimates for eleven (11) States – Akwa Ibom, Bayelsa, Cross River, Delta, Kaduna, Kano, Ogun, Osun, Oyo, Rivers and Zamfara – were published in October 2018, providing estimates for states GDP for the five-year period covering 2013-2017. The completion of this initial phase of the SGDP compilation exercise revealed new insights regarding the structure of sub-national economies, while also demonstrating an improvement in statistical capacity for producing both national and state accounts.



This report provides estimates for the second phase of the States GDP compilation exercise covering an additional 11 states - Anambra, Bauchi, Ebonyi, Edo, Ekiti, Gombe, Jigawa, Kogi, Niger, Ondo - and the Federal Capital Territory (FCT). Thus, the results for all 22 states are provided and analysed in this report. This is expected to inform policymakers at all levels regarding absolute and relative magnitudes of economic activities in the reporting States, even as NBS continues efforts to complete the last phase of compilation for the remaining 15 States.



Summary of Findings

i. In 2017, the nominal gross domestic product for the 22 states (for which data is currently available) stood at N63.8trillion, or 56% of Nigeria’s nominal gross domestic product in that year.



ii. By sector, the 22 states accounted for 57%, 77% and 48% of agriculture, industry and services GDP at the national level respectively. Among the 22 states, however, services sector accounted for 67%, while agriculture accounted for 22% and industry, 11%.



iii. Among the 22 states, FCT had the highest gross domestic product at N10.6 trillion, or 17% of total states GDP. This was followed by Akwa-Ibom and Rivers States, each with 8% of total states GDP.



iv. In the FCT, services accounted for 81% of GDP while industry and agriculture accounted for 18% and 10% respectively. In Akwa-Ibom, however, industry accounted for 65% while services and agriculture accounted for 19% and 16% respectively.



v. Across the 22 states, the non-oil sector represented 98% of total states GDP while the oil sector accounted for only 2%.



vi. The 6 states with the highest nominal GDP in 2017 – FCT, Akwa-Ibom, Rivers, Delta, Bayelsa, Anambra – accounted for about 50% of the total states GDP, or 27% of Nigeria’s nominal GDP, in 2017.


NBS Publishes Additional 11 States Nominal GDP From 2013 to 2017
Nigeria Economy
6089 VIEWS
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Tuesday, May 28, 2019 / 04:50 PM/ NBS



GDP of an economy, including at State level, is a measure in monetary terms of production of all goods and services during a period. Like the compilation at the national level, State accounts statistics are based on the guidelines and recommendations set out in the System of National Accounts 2008 (SNA 2008). The System of National Accounts provides an internationally-recognised framework and a comprehensive set of concepts, definitions and classifications for national accounting. Additionally, other relevant guidelines adopted are the International Standard Industrial Classification of all Economic Activities (ISIC) as well as the Central Product Classification (CPC) system.



States GDP compilation is important and useful for various purposes. First, it provides important information to support evidence-based policymaking. It also helps to identify key drivers of economic growth in each state and assess the performance of the state economy. Further, by revealing the structure of the state economy, the contribution of each state to the national output can be determined.



Methodologically, National/State accounts describe all flows within a period between the economic units constituting the national /state economy and their stocks. As such, the States accounts can follow national accounts as long as one can clearly define and delineate a state, and its resident units in terms of institutional units, production units, consumer units within it. In short, SGDP is the sum of gross value added of all resident producer units (industries) within the economic borders of the state during a given period of time including taxes, less subsidies, on products.



The institutional units / sectors in the States include: Non-financial corporations (Flour Mills, Nestle, etc), Financial corporations (Banks, Insurance etc), State governments, Non-profit institutions serving households (NPISH) in the state, and Households. In compilation of SGDP, residence is not based on birth or legal criteria. Instead, an institutional unit is classified as resident if it has a centre of economic interest in the economic territory of a state. Certain activities cut across state boundaries, and thus their economic contribution cannot be assigned to any one state eg telecommunication, Railway line, Transportation, Banking & Insurance. Other activities like Defence, paramilitary, border security force, high sea drilling etc are kept outside the purview of the state GDP. Key data sources included in SGDP compilation include secondary/administrative data, surveys, financial statements, audited State government accounts and VAT returns, among others.



In practice, the compilation of Gross Domestic Product (GDP) estimates for sub-national units of the Federation has been a phased exercise at the National Bureau of Statistics since 2013. In the first phase, estimates for eleven (11) States – Akwa Ibom, Bayelsa, Cross River, Delta, Kaduna, Kano, Ogun, Osun, Oyo, Rivers and Zamfara – were published in October 2018, providing estimates for states GDP for the five-year period covering 2013-2017. The completion of this initial phase of the SGDP compilation exercise revealed new insights regarding the structure of sub-national economies, while also demonstrating an improvement in statistical capacity for producing both national and state accounts.



This report provides estimates for the second phase of the States GDP compilation exercise covering an additional 11 states - Anambra, Bauchi, Ebonyi, Edo, Ekiti, Gombe, Jigawa, Kogi, Niger, Ondo - and the Federal Capital Territory (FCT). Thus, the results for all 22 states are provided and analysed in this report. This is expected to inform policymakers at all levels regarding absolute and relative magnitudes of economic activities in the reporting States, even as NBS continues efforts to complete the last phase of compilation for the remaining 15 States.



Summary of Findings

i. In 2017, the nominal gross domestic product for the 22 states (for which data is currently available) stood at N63.8trillion, or 56% of Nigeria’s nominal gross domestic product in that year.



ii. By sector, the 22 states accounted for 57%, 77% and 48% of agriculture, industry and services GDP at the national level respectively. Among the 22 states, however, services sector accounted for 67%, while agriculture accounted for 22% and industry, 11%.



iii. Among the 22 states, FCT had the highest gross domestic product at N10.6 trillion, or 17% of total states GDP. This was followed by Akwa-Ibom and Rivers States, each with 8% of total states GDP.

iv. In the FCT, services accounted for 81% of GDP while industry and agriculture accounted for 18% and 10% respectively. In Akwa-Ibom, however, industry accounted for 65% while services and agriculture accounted for 19% and 16% respectively.



v. Across the 22 states, the non-oil sector represented 98% of total states GDP while the oil sector accounted for only 2%.



vi. The 6 states with the highest nominal GDP in 2017 – FCT, Akwa-Ibom, Rivers, Delta, Bayelsa, Anambra – accounted for about 50% of the total states GDP, or 27% of Nigeria’s nominal GDP, in 2017.

NBS Publishes Additional 11 States Nominal GDP From 2013 to 2017
Nigeria Economy
6089 VIEWS
Proshare - Facebook Proshare - Twitter Proshare - Linked In Proshare - WhatsApp
Proshare
May 28, 2020/ 04:50 PM/ NBS



GDP of an economy, including at State level, is a measure in monetary terms of production of all goods and services during a period. Like the compilation at the national level, State accounts statistics are based on the guidelines and recommendations set out in the System of National Accounts 2008 (SNA 2008). The System of National Accounts provides an internationally-recognised framework and a comprehensive set of concepts, definitions and classifications for national accounting. Additionally, other relevant guidelines adopted are the International Standard Industrial Classification of all Economic Activities (ISIC) as well as the Central Product Classification (CPC) system.



States GDP compilation is important and useful for various purposes. First, it provides important information to support evidence-based policymaking. It also helps to identify key drivers of economic growth in each state and assess the performance of the state economy. Further, by revealing the structure of the state economy, the contribution of each state to the national output can be determined.



Methodologically, National/State accounts describe all flows within a period between the economic units constituting the national /state economy and their stocks. As such, the States accounts can follow national accounts as long as one can clearly define and delineate a state, and its resident units in terms of institutional units, production units, consumer units within it. In short, SGDP is the sum of gross value added of all resident producer units (industries) within the economic borders of the state during a given period of time including taxes, less subsidies, on products.



The institutional units / sectors in the States include: Non-financial corporations (Flour Mills, Nestle, etc), Financial corporations (Banks, Insurance etc), State governments, Non-profit institutions serving households (NPISH) in the state, and Households. In compilation of SGDP, residence is not based on birth or legal criteria. Instead, an institutional unit is classified as resident if it has a centre of economic interest in the economic territory of a state. Certain activities cut across state boundaries, and thus their economic contribution cannot be assigned to any one state eg telecommunication, Railway line, Transportation, Banking & Insurance. Other activities like Defence, paramilitary, border security force, high sea drilling etc are kept outside the purview of the state GDP. Key data sources included in SGDP compilation include secondary/administrative data, surveys, financial statements, audited State government accounts and VAT returns, among others.



In practice, the compilation of Gross Domestic Product (GDP) estimates for sub-national units of the Federation has been a phased exercise at the National Bureau of Statistics since 2013. In the first phase, estimates for eleven (11) States – Akwa Ibom, Bayelsa, Cross River, Delta, Kaduna, Kano, Ogun, Osun, Oyo, Rivers and Zamfara – were published in October 2018, providing estimates for states GDP for the five-year period covering 2013-2017. The completion of this initial phase of the SGDP compilation exercise revealed new insights regarding the structure of sub-national economies, while also demonstrating an improvement in statistical capacity for producing both national and state accounts.



This report provides estimates for the second phase of the States GDP compilation exercise covering an additional 11 states - Anambra, Bauchi, Ebonyi, Edo, Ekiti, Gombe, Jigawa, Kogi, Niger, Ondo - and the Federal Capital Territory (FCT). Thus, the results for all 22 states are provided and analysed in this report. This is expected to inform policymakers at all levels regarding absolute and relative magnitudes of economic activities in the reporting States, even as NBS continues efforts to complete the last phase of compilation for the remaining 15 States.



Summary of Findings

i. In 2017, the nominal gross domestic product for the 22 states (for which data is currently available) stood at N63.8trillion, or 56% of Nigeria’s nominal gross domestic product in that year.



ii. By sector, the 22 states accounted for 57%, 77% and 48% of agriculture, industry and services GDP at the national level respectively. Among the 22 states, however, services sector accounted for 67%, while agriculture accounted for 22% and industry, 11%.



iii. Among the 22 states, FCT had the highest gross domestic product at N10.6 trillion, or 17% of total states GDP. This was followed by Akwa-Ibom and Rivers States, each with 8% of total states GDP.



iv. In the FCT, services accounted for 81% of GDP while industry and agriculture accounted for 18% and 10% respectively. In Akwa-Ibom, however, industry accounted for 65% while services and agriculture accounted for 19% and 16% respectively

vi. The 6 states with the highest nominal GDP in 2017 – FCT, Akwa-Ibom, Rivers, Delta, Bayelsa, Anambra – accounted for about 50% of the total states GDP, or 27% of Nigeria’s nominal GDP, in 2017.

https://www.proshareng.com/news/Nigeria%20Economy/NBS-Publishes-Additional-11-States-Nominal-GDP-From-2013-to-2017/45495#

Lalastclala, Seun & mynd44....

Wow...this is great @ Ilaumoh, where are all those people always insulting Akwa Abasi Ibom ..so after Lagos and Abuja.. Akwa Ibom is next biggest economy in nigeria by NBS and CBN and wikipedia will be showing us old 2010 rating ..imagine where is @ Kinematics ooooo

God will bless Akwa Ibom for been the richest economy in Southern Nigeria..

Find the old rating of 2010 by wikipedia below..
I knew people were relying on the old rating

Kinematics
24seven
And the other Akwa Ibom haters, come out, breakfast is served.

Meanwhile mynd44 and lala please FP

Hunchogee:
Wow...thus us great @ Ilaumoh, where are all those people always insulting Akwa Abasi Ibom ..so after Lagos and Abuja.. Akwa Ibom is next biggest economy in nigeria by NBS and CBN and wikipedia will be showing us old 2010 rating ..imagine where is Kinematics ooooo

God will bless Akwa Ibom for been the richest economy in Southern Nigeria..

Find the old rating if 2010 by wikipedia below..
I knew people were relying on the old rate

My brother me myself was shocked ... let me tell you how I knew..I was discussing with my neighbour who works in CBN branch here in Uyo when I was saying Akwa ibom need to continue growing thier GDP & PPP via industrialisation so to top in south south interms of GDP and PPP i even ignorantly told him that Rivers state was the highest ...and he started laughing at me and then gave me this shocker..
Saying river state is a shadow of itself now that Akwa Ibom according to central Bank is presently the biggest GDP and second highest PPP in not only south south but south east since 2017....and when he now shared this document with me I was so surprised and amazed....

So From now henceforth all those insult will end ...so Akwa Ibom is the biggest economy in Eastern Nigeria third in Nigeria... wow

Lalastclala please front page

Blackking98:
Kinematics
24seven
And the other Akwa Ibom haters, come out, breakfast is served.

Meanwhile mynd44 and lala please FP

My brother am so happy for this discovery indeed illaumoh was right ooo...i just saw this backup document too..

This is indeed a revelation...Wikipedia abeg change that old 2010 rating to a more 2017 rating pls..

Lalastclala, mynd44 and Oga seun front page abeg

Hunchogee:

My brother am so happy for this discovery indeed illaumoh was right ooo...i just so this document too..

This is indeed a revelation...Wikipedia abeg change that old 2010 rating to a more 2017 rating pls..

Lalastclala, mynd44 and Oga seun front page abeg

I won't be suprised that some people will still bad-mouth us on this thread.
Probably an Akwa ibomite stole their girlfriends or boyfriend's .

Blackking98:

I won't be suprised that some people will still bad-mouth us on this thread.
Probably an Akwa ibomite stole their girlfriends or boyfriend's .

My brother all their attacks will be audio now....facts on ground is the most important thing wow...this a breath of fresh air �

Akwa-Ibom in South East or is there any part I missed from the publication.

IamWonderful:
Akwa-Ibom in South East or is there any part I missed from the publication.

Look carefully placing the publication rating covers the entire south east and south and some north or are you telling us you no longer want us in biafra or south east again

Hunchogee:

My brother all their attacks will be audio now....facts on ground is the most important thing wow...this a breath of fresh air �

There's another monicker I'm trying to remember, it starts from E, another hateful soul.

men Abuja per capital big oooo...8k dollars ..wow people get money there sha

That is good.

Nice one, AKS.

Blackking98:

There's another monicker I'm trying to remember, it starts from E, another hateful soul.

Who be that ooooo.....wetin be that in name oooo
I go soon remember....notable of them all na @ Kinematics ... am trying to remember

Hunchogee:

Look carefully placing the publication rating covers the entire south east and south and some north or are you telling us you no longer want us in biafra or south east again

this will degenerate into Biafra topic now. Just watch when the IPOB fanatics arrive

Ritchiee:
That is good.

Brother I was so shocked too when I saw it myself ..
And Ilaumoh of a guy do talk with facts all the time

Hunchogee:

Who be that ooooo.....wetin be that in name oooo
I go soon remember....notable of them all na @ Kinematics ... am trying to remember

There's a topic we were both tackling the monicker and the person claimed to have an Akwa ibomite cousin who was jobless, wayward bla bla bla

fergie001:
Nice one, AKS.

My brother na hard work

Blackking98:

There's a topic we were both tackling the monicker and the person claimed to have an Akwa ibomite cousin who was jobless, wayward bla bla bla

Super story lol

what did I missed...
@Lalastclala fp

Developers lagging behind as usual

Hmm

God bless my dear Akwa ibom state forever and may my.Akwa ibom state be forever "ayaya"

Blackking98:
Kinematics
24seven
And the other Akwa Ibom haters, come out, breakfast is served.

Meanwhile mynd44 and lala please FP

Supported

So ur telling me that upon all the industries nd millioniares living of aba ,abia na akwa ibom nd bayelsa dey ontop... Interesting

Hunchogee:

Super story lol

the funny part is that they'll never mention the name of their state. Atleast I respect kinematics for telling us his state. The other haters are usually ashamed of mentioning their state.

Hunchogee:

My brother am so happy for this discovery indeed illaumoh was right ooo...i just saw this backup document too..

This is indeed a revelation...Wikipedia abeg change that old 2010 rating to a more 2017 rating pls..

Lalastclala, mynd44 and Oga seun front page abeg

My brother am so happy an tired the same time...By the time we are through with all our industries udom is building ...the sky will not be able to contain our limit

Susu888:
So ur telling me that upon all the industries nd millioniares living of aba ,abia na akwa ibom nd bayelsa dey ontop... Interesting

The wealth is not flowing down to their masses. Your brothers orji kalu and co are hoarding the wealth.
Besides Akwa Ibom government has built roads for Abia state twice, I can provide links if you want.

Blackking98:
the funny part is that they'll never mention the name of their state. Atleast I respect kinematics for telling us his state. The other haters are usually ashamed of mentioning their state.

Osun and Kogi came into my mind

Hunchogee:

My brother am so happy for this discovery indeed illaumoh was right ooo...i just saw this backup document too..

This is indeed a revelation...Wikipedia abeg change that old 2010 rating to a more 2017 rating pls..

Lalastclala, mynd44 and Oga seun front page abeg

Nice one

greatdreamer:
Osun and Kogi came into my mind

Bad guy

[s]

Hunchogee:
Wow...this is great @ Ilaumoh, where are all those people always insulting Akwa Abasi Ibom ..so after Lagos and Abuja.. Akwa Ibom is next biggest economy in nigeria by NBS and CBN and wikipedia will be showing us old 2010 rating ..imagine where is @ Kinematics ooooo

God will bless Akwa Ibom for been the richest economy in Southern Nigeria..

Find the old rating of 2010 by wikipedia below..
I knew people were relying on the old rating

[/s]
It threaded last year. Below is the link

https://www.nairaland.com/5214582/states-nominal-gross-domestic-product

Oil production pushed Akwa-Ibom and other oil producing states ontop of the GDP