Lagos Real Estate Investment Report ,MCO,Q3/Q4 2015

Based on figures released by the National Bureau of Statistics, 2015 third quarter Gross Domestic Product (GDP) grew by 2.84 per cent year-on-year in real terms. This was higher by 0.49 per cent than the growth of 2.35 per cent recorded in the preceding quarter, yet less than half of the 6.23 per cent figure recorded in the same quarter of 2014. The slowing of the economy has been attributed to the steep fall in the oil price since the beginning of 2014 and the attendant fall in oil
revenues over the period. Real oil sector growth increased by 1.06 per cent year-on-year in Q3 2015 while the sector
contributed 10.27 per cent to national GDP growth. Growth in the non-oil sector was largely driven by the activities of
agriculture, financial services, telecommunications, and trade amongst others. The non-oil sector grew by 3.05 per cent in real terms in the third quarter of 2015 and contributed 89.73 per cent to GDP growth over the year leading up to the third quarter.

Lagos Real Estate Investment Report ,MCO,Q3/Q4 2015

Summary

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