Q1, 2023: Non-oil sector contribution to Nigeria’s GDP drops to 93.79%

The non-oil sector’s contribution to Nigeria’s Gross Domestic Product (GDP) dropped to 93.79 per cent in the first Quarter of 2023 from 95.66 per cent in the Fourth Quarter of 2022.

The National Bureau of Statistics (NBS), in a recent statement, disclosed that Crop production, 19.48 per cent; trade, 15.97 per cent; telecommunications & Information services, 14.13 per cent are the top-three significant non-oil sectors’ contributors to the country’s GDP in Q1 2023.

On the other hand, the oil sector contributed 6.21 per cent.

The report stated that other critical contributors to the country’s GDP in Q1 2023 are Real Estate, 5.31 per cent; food, beverage and Tobacco, 5.13 per cent; financial institutions, 4.91 per cent; construction, 4.22 per cent; professional, Scientific and Technical Services, 3.25 per cent, others services, 3.17 per cent.