Nigerian Gross Domestic Product Report (Expenditure and Income Approach) (Q3-Q4 2016 )
1. In real terms year on year growth in GDP declined by 2.34% and 1.73%, in the third and fourth quarter respectively. Continuing the negative growth trend from the first half of 2016.
2. Both household consumption and government consumption expenditures contributed to the fall in the third and fourth quarters, however a strong recovery in growth in net exports, particularly in the fourth quarter helped to stem the decline.
3. National Disposable Income recorded a strong growth in comparison to the GDP in the second half of 2016 in real terms. This is partly as a result of increases in “other net transfers from the rest of the world’ .
4. Year on year growth in domestic Compensation of Employees declined in real terms. Operating surplus declined in the third and fourth quarters but grew overall in real terms in 2016.
Date source: National Bureau of Statistics