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Remarks by the Statistician General of the Federation, Dr Yemi Kale at the Signing Ceremony of a MoU between the National Bureau of Statistics and the National Social Safety Net Coordinating Office for the Conduct of the National Living Standard Survey.

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Good news, Fake news and Statistics: Speech by Dr Yemi Kale, Statistician General of the Federation/CEO, NBS at the DUBAWA Launch, Yar Adua Center Abuja.

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Do you know?

The nominal year on year growth rate of Trade in the fourth quarter of 2017 stood at 3.11%. This indicates a drop by -11.46% points when compared to the fourth quarter of 2016 and 2.68% points higher than the third quarter of 2017.

GDP

In nominal terms, Other Services grew by 4.52% (year-on-year) in Q4 2017. This growth rate is less than the 21.60% growth rate recorded in the same quarter of the previous year and higher than the growth rate of 3.97 % in Q3 2017 by -17.08 % points and 0.54% points respectively.

GDP

Nominal GDP growth of Manufacturing in the fourth Quarter of 2017 was recorded at 9.20% (year-on- year), 5.64% points higher than figures recorded in the corresponding period of 2016 (3.56%) however -1.12% points lower than the preceding quarter figure of 10.32%.

GDP

In nominal terms, the Public Administration sector grew by 0.57 % in Q4 2017, lower by -7.86% points from the corresponding quarter of 2016 and lower by -0.90% points relative to Q3 2017.

GDP

Nominal growth in the Education sector in the fourth quarter of 2017 was 1.37% (year-on-year), down by -13.68% points from the growth of 15.05% reported in the corresponding quarter of 2016, and down by - 2.00% points when compared to Q3 2017 growth rate of 3.37%.

GDP

In the fourth quarter of 2017, Agriculture contributed 21.97% to nominal GDP. This figure is higher than the rates recorded for the fourth quarter of 2016 and lower than third quarter of 2017 at 21.35% and 24.44% respectively.

GDP

The non-oil sector recorded an annual growth of 0.47% compared to -0.22 in 2016. This sector was driven this quarter mainly by Agriculture (Crop), Trade and Transportation and storage.

GDP

Real growth of the oil sector was 8.38% (year-on-year) in Q4 2017. This represents an incline of 26.08% relative to rate recorded in the corresponding quarter of 2016. Growth reduced by -17.50% when compared to Q3 2017 which was 25.89%.

GDP

For the first time on record, the sector to import the largest amount of capital was Servicing, which accounted for $130.98 million, or 20.24% of the total.

Capital Importation
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