Nigeria’s GDP records decrease in Q3 and Q4 2016

share on:

The National Bureau of Statistics ( NBS ) says the Gross Domestic Product( GDP ) in genuine terms dellined in the third and fourth quarters of 2016.

The NBS made this known in its “Nigerian Gross Domestic Product( GDP ) Report on Expenditure and Income Approach for the third and fourth quarter of 2016 discharged in Abuja.

ALSO READ   Nigerian Judiciary Claims Billions Of 15M BVN Defaulters

As indicated by the report, the decay took after the negative development drift from the first half of 2016.

It clarified that the family unit utilization and government utilization consumptions prompted the diminishing in GDP in both the third and fourth quarter of the year under survey.

The bureau, however, expressed that a solid recuperation in development in net export, especially in the fourth quarter stemmed the decrease.

ALSO READ   Nigerian Man, Alhaji Sells Adulterated Bottled-Water To Public

As per the report, the National Disposable Income recorded a solid development in contrast with the GDP in the second 50% of 2016 in genuine terms.

This it said was incompletely because of increments in other net transfers from whatever remains of the World .

The report expressed that Year on Year development in Domestic Compensation of Employees in genuine terms declined.

ALSO READ   Nnamdi Kanu Succesfully Established Himself As Supreme Leader Of Biafra As Anambra Guber Elections Records More than 95% Boycott By Indigenous People

The agency additionally said that the working surplus declined in the third and fourth quarters however developed generally speaking in genuine terms in 2016.


Leave A Comment Below
share on: