₦airaland Forum

Aw

ursullalinda:
Don't understand why we only read about good news.....but don't feel the impact in our daily lives....

Gdp growth of 2.8 percent is way too low to feel any impact in our lives.

modelmike7:
go killl urself, cos of dis positive news. na una way wailers

If the economy was reportedly said to have a negative growth rate, you'd have seen same wailers jubilating because of the bad news and cursing Buhari till thy kingdom come, news like this gives them nightmares

Duggedised12:
Audio rise Animal farm. A big for nothing giant on paper that even Boswana and Rwanda is better than . By the way is vision 2020 still visible?

Why are you not in Botswana or Rwanda and leave the rest of us alone

100%

We need to close more borders

johnmattew:
GDP rose because of border closure(which lead to increase in industrial sector)...not because of oil

This one na ur own version.

Duggedised12:
Audio rise Animal farm. A big for nothing giant on paper that even Boswana and Rwanda is better than . By the way is vision 2020 still visible?

I known we are not very ok with the way things are in nigeria, but comparing nigeria to these village countries who can not beat us in any Economy terms is an insult.

adarayz:
A local man is confused

Abeg what is gdp, when we don't feel the effect of its rise, but when it falls prices will inflate


Nigeria needs a lot of restructuring


All those analysis above is what they use in siphoning funds

So there was no GDP for 16years of PDP?

All these ones are just foolish statistics...things are really hard in this country

anyway see how to run a successful construction company
https://explicitsuccess.com/how-to-run-a-construction-company-successfully/w

Ravon:
Nigeria’s Gross Domestic Product (GDP) grew by 2.28% (year-on-year), in real terms, in the third quarter of 2019. Compared to the third quarter of 2018 which recorded a growth of 1.81%, the real GDP growth rate observed in the third quarter of 2019 indicates an increase of 0.47% points. Relative to the second quarter of 2019, which recorded a growth rate of 2.12%, Q3 2019 represents an increase of 0.17% points.* On a quarter on quarter basis, however, real GDP grew by 9.23%. The growth rate in Q3 2019 represents the second-highest quarterly rate recorded since 2016.

In the quarter under review, aggregate GDP stood at N37,806,924.41 million in nominal terms. This performance is higher compared to the aggregate of N33,368,049.14 million recorded in the third quarter of 2018, representing a year on year nominal growth rate of 13.30%. The growth rate is, however, lower relative to rates recorded in the third quarter of 2018 by –0.28% points and the rates recorded in the preceding quarter by –0.71% points. For better clarity, the Nigerian economy has been classified broadly into the oil and non-oil sectors.

The Oil Sector

In Q3 2019, Nigeria recorded average daily oil production of 2.04 million barrels per day (mbpd), its highest in more than three years. This output was 0.1mbpd higher than the daily average production of 1.94mbpd recorded in the same quarter of 2018 and 0.02mbpd higher than the revised oil production levels in Q2 2019 of 2.02mbpd.

The real growth of the oil sector was 6.49% (year-on-year) in Q3 2019 indicating an increase of 9.40% points relative to rate recorded in the corresponding quarter of 2018. The rate was lower by –0.68% points when compared to Q2 2019 which was 7.17%.* Quarter-on-Quarter, the oil sector recorded a growth rate of 18.88% in Q3 2019. The sector contributed 9.77% to total real GDP in Q3 2019, up from figures recorded in the corresponding period of 2018 as well as the preceding quarter, when it accounted for 9.38% and 8.98% respectively.

The Non-Oil Sector

The non-oil sector grew by 1.85% in real terms during the reference quarter. This is –0.48% points lower when compared to the rate recorded in the same quarter of 2018 but 0.20% points higher than the second quarter of 2019. During the quarter, the sector was driven mainly by the Information and Communication sector. Other drivers were Agriculture, Mining and Quarrying, Transportation and Storage, and Manufacturing. In real terms, the Non-Oil sector contributed 90.23% to the nation’s GDP, slightly lower than the share recorded in the third quarter of 2018 (90.62%), and in the second quarter of 2019 (91.02%).

SOURCE: https://brandspurng.com/2019/11/22/nigerias-gdp-rises-by-2-28-y-o-y-on-the-back-of-oil-gas-telecoms-sectors-in-q3-2019/

Did you make a mistake? Nigeria's GDP is in Billion if Dollars, not what you quoted. Where did you get this figure?;

urahara:
Gdp growth of 2.8 percent is way too low to feel any impact in our lives.

It is 2.28 not 2.8.....the growth those not even equate our population growth rate...but then there is a slight progress in the gdp growth compared to that of second quarter of 2019..

Duggedised12:
Audio rise Animal farm. A big for nothing giant on paper that even Boswana and Rwanda is better than . By the way is vision 2020 still visible?

Comparing Rwanda economy with that of Nigeria is a silly joke...Apart from the fact that they are experiencing fake GDP growth(they've been busted) tell me what else.....

Take whatever kegame tells the media as a punch if salt..

Pls stop displaying your ignorance here, quickly go back to school and this time, be a serious student ok.

GeneralPula:
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For where...E don Kalas! Pdp scammed us !

make we wait for vision 5050 maybe that one go see the light of day,lol