Nigerian Bureau Of Statistics – Quarterly Gdp Report Q4 2011.

Nigerian Bureau Of Statistics – Quarterly Gdp Report Q4 2011.

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Summary

On an aggregate basis the economy when measured by the Real Gross Domestic Product (GDP), grew by 7.68 percent in the fourth quarter of 2011 as against 8.60 percent in the corresponding quarter of 2010.The 0.92 percentage point decrease in Real GDP growth observed in the fourth quarter of 2011 was as a result of production shut-down in the oil sector during the period. At 218,153,647 barrels, crude oil and condensate production decreased 6.9 percent in the fourth quarter of 2011 with an average daily production of 2.4 million barrel per day compared with the 234,330,982 barrel production recorded in the fourth quarter of 2010 with a corresponding average daily production of 2.6 million barrels per day. The non-oil sector continued to be a major driver of the Nigerian economy in the fourth quarter of 2011. When compared with the corresponding quarter in 2010, the sector recorded 9.07 percent growth in real terms

Source: Nigerian Bureau Of Statistics

Published: 2011

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