A copy of the report, which was signed by the Statistician General of the Federation, was sent to our correspondent via email.
The report, however, stated that the
6.18 per cent growth for the second quarter was slower than the 6.56 per
cent recorded in the first quarter of 2013 and 6.39 per cent recorded
in the corresponding quarter of 2012.
It said, “On an aggregate basis, the
economy, when measured in second quarter 2013, grew by 6.18 per cent in
the second quarter of 2013, slower than the 6.56 per cent recorded in
the first quarter of 2013 and 6.39 per cent recorded in the
corresponding quarter of 2012.
The nominal GDP for the second quarter
of 2013, the report said, was estimated at N9.115tn, lower than N9.840tn
estimated for the corresponding quarter of 2012 and N9.493tn recorded
in the first quarter of 2013.
It said while the oil sector experienced
production challenges, the non-oil sector output increased in the
second quarter of 2013. It added that the non-oil sector growth was
driven by growth in activities recorded in the agriculture, airlines,
hotels and restaurants, as well as building and construction sectors.
The report said, “The oil sector
contributed approximately 12.9 per cent to real GDP in the second
quarter of 2013, lower than the 14.75 per cent contribution in the first
quarter of 2013, and the 13.86 per cent recorded during the second
quarter of 2012.
Despite the persistent challenges facing
the oil sector, the report said the non-oil sector continued to sustain
the Nigerian economy.
It said, “In the second quarter of 2013,
the non-oil sector recorded 7.36 per cent growth in real terms compared
with 7.63 per cent at the corresponding period in 2012, and 7.89 per
cent in the first quarter of 2013.
“This relative decline was partly
attributed to lower electricity generation during the period, which had
ripple effects on other manufacturing, telecommunications as well as
wholesale and retail trade. “
In terms of output, the real
agricultural GDP growth in the second quarter of 2013 stood at 4.52 per
cent, up from the 4.21 per cent recorded in the corresponding period of
2012 and also higher than the 4.14 per cent recorded during the first
quarter of 2013.
This, the report noted, represented the highest growth rate in the sector in the last seven quarters.
For the manufacturing sector, the report
said, “During the second quarter of 2013, manufacturing output
decreased relative to the same period in 2012.
“Real GDP growth in the sector was
recorded at 6.81 per cent, down from 8.41 per cent recorded in the first
quarter of 2013, and 7.59 per cent recorded in the corresponding
quarter of 2012.”
In the telecoms sector, the report said
it recorded a real GDP growth of 22.12 per cent in the second quarter of
2013, down from 24.53 per cent recorded in the first quarter of the
year, and 29.38 per cent recorded in the second quarter of 2012.
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Story, while per capital income is less than a $, and Nigerians are dieing of hunger.
ReplyDeletePlease how does this translate to food in the plate of ordinary Nigerians?
ReplyDeleteAbeg make una help me ask these people oh!
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