Nigerian Bureau Of Statistics – Quarterly Gdp Report Q4 2012.

Nigerian Bureau Of Statistics – Quarterly Gdp Report Q4 2012.

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Summary

On an aggregate basis, the economy when measured by the Real Gross Domestic Product (GDP), grew by 6.99 percent in fourth quarter of 2012 as against 7.76 percent in the corresponding quarter of 2011 .The average daily crude oil production was 2.14 million barrels per day in fourth quarter of 2012 as supplied by NNPC as against 2.44 million barrels per day in the corresponding quarter in 2011. The Nigerian oil sector had witnessed levels of disruptions due to facility shut downs. For example, the activities of vandals and oil theft affected production of Bonny Light and Forcados grades as well as Qua Iboe crude oil production.The Non-oil sector continued to be a major driver of the economy. On a year-on-year basis, growth in the sector was marginally lower by 0.89 percentage points as the sector recorded 8.21 percent growth in real terms in the fourth quarter of 2012 compared with 9.10 percent at the corresponding period in 2011.

Source: Nigerian Bureau Of Statistics

Published: 2012

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