GDP Report Q1 2021

NATIONAL BUREAU OF STATISTICS
Nigerian Gross Domestic

Product Report
(Q1 2021)
Report Date: May 2021
Data Source: National Bureau of Statistics (NBS)

CONTENT
Preface 1
Introduction 2
Overview of GDP First Quarter 2021 3
Oil Sector 4
Non-Oil Sector 5
Major Economic Sectors: Q1 2021 8
Methodology 81
Appendix 88
Acknowledgements/Contact 97
PREFACE
This publication provides data on Quarterly Gross Domestic Product (GDP) estimates for the four
quarters of 2020, the annual figure for 2020 and the first quarter of 2021 which is the main focus.
Quarterly National Accounts (QNA) are integrated system of macroeconomic accounts designed to
describe the entire system of production in a nation on a quarterly basis. They provide a picture of the
current economic status of the economy that is more timely and frequent than that provided by Annual
National Accounts (ANA). The key attribute of QNA is that they provide a reasonable level of detail of the
economy that help government to assess, analyse, and monitor economic growth on a regular basis.
QNA adopts the same concepts, definitions and structure as ANA. In principle QNA covers the entire
sequence of accounts and balance sheets as reflected in the 2008 System of National Accounts (2008
SNA).
Data for this analysis were obtained from the Quarterly Establishment Survey (QES) conducted by the
National Bureau of Statistics (NBS). This series covers major aggregates of quarterly GDP by kind of
economic activities at current and constant (2010) prices.
We are grateful to the various agencies and establishments that made their data available as input to the
estimates.
Dr. Yemi Kale,

Statistician – General,
National Bureau of Statistics,
Abuja – Nigeria.
May, 2021.
1
Nigerian Gross Domestic Product Report - Q1 2021
INTRODUCTION
The National Bureau of Statistics (NBS) has been conducting Establishment Surveys to provide data for
the estimation of the Gross Domestic Product (GDP) for the country. In 2008, NBS improved the GDP
series by conducting Quarterly Establishment Surveys (QES) each year to complement the annual surveys
which normally take place in the first quarter of the succeeding year.
In 2020, the fourth quarter survey for 2019, as well as the first, second and third quarter surveys of 2020
were undertaken. Similarly, the fourth quarter survey for 2020 and first quarter survey for 2021 were
conducted this year. These surveys produced the data that were used for the compilation of the quarterly
GDP for the four quarters of 2020(Q1-Q4, 2020) and the first quarter of 2021 (Q1, 2021).
In subsequent sections of this report, emphasis will be given to the composition of GDP in the first quarter
of 2021 relative to the corresponding quarter in 2020 as well as the immediate past quarter of 2020 (Q4
2020).
2
OVERVIEW OF GDP IN Q1 2021
Nigeria's Gross Domestic Product (GDP) grew by 0.51%(year-on-year) in real terms in the first quarter of
2021, marking two consecutive quarters of growth following the negative growth rates recorded in the
second and third quarters of 2020. The Q1 2021 growth rate was slower than the 1.87% growth rate
recorded in Q1 2020 but higher than 0.11% recorded in Q4 2020, indicative of a slow but continuous
recovery. Nevertheless, quarter on quarter, real GDP grew at -13.93% in Q1 2021 compared to Q4 2020,
reflecting a generally slower pace of economic activities at the start of the year.
In the quarter under review, aggregate GDP stood at N40,014,482.74 million in nominal terms. This
performance is higher when compared to the first quarter of 2020 which recorded aggregate GDP of
N35,647,406.08 million, indicating a year on year nominal growth rate of 12.25%. The nominal GDP
growth rate in Q1 2021 was higher relative to 12.01% growth recorded in the first quarter of 2020 as well
as the 10.07% growth recorded in the preceding quarter. For better clarity, the Nigerian economy has
been classified broadly into the oil and non-oil sectors.
Figure1: Real GDP Growth
3
The Oil Sector
In the first quarter of 2021, average daily oil production stood at 1.72 million barrels per day (mbpd), or
0.35mbpd lower than the average daily production of 2.07mbpd recorded in the same quarter of 2020 but
higher than the production volume of 1.56mbpd recorded in the fourth quarter of 2020. (Figure2).
Figure 2: Crude Oil Output (MBPD)
The oil sector recorded real GDP growth rate of –2.21% (year-on-year) in Q1 2021 indicating a decrease
of –7.27% points relative to the growth rate recorded in the corresponding quarter of 2020 (5.06%).
Compared to Q4 2020 which recorded –19.76% growth rate, growth in Q1 2021 was higher by 17.55%
points. Quarter-on-quarter, the oil sector recorded a growth rate of 35.65% in Q1 2021. In terms of
contribution to aggregate GDP, the Oil sector accounted for 9.25% of aggregate real GDP in Q1 2021,
slightly lower than 9.5% recorded in the corresponding period of 2020 but higher than in the preceding
quarter, where it contributed 5.87%.
4
The Non-Oil Sector
The non-oil sector grew by 0.79% in real terms in Q1 2021, which was –0.75% points lower compared to
the rate recorded in the same quarter of 2020 and -0.89% points lower than rates recorded in the fourth
quarter of 2020. Growth in the non-oil sector was driven mainly by the Information and Communication
(Telecommunication) sector while other drivers include Agriculture (Crop Production); Manufacturing
(Food, Beverage & Tobacco); Real Estate; Construction and Human Health & Social Services. In real terms,
the Non-oil sector accounted for 90.75% of aggregate GDP in the first quarter of 2021, higher than its
share in the first quarter of 2020 which was 90.50% but lower than 94.13% recorded in the fourth quarter
of 2020.
Figure 3: Crude Oil and Non-Oil Growth
5
GDP REPORT Q1 2021
REAL QUARTERLY GDP GROWTH FOR Q1 2021 AT
0.51%
(FROM +0.11% IN Q4 2020)
NOMINAL GDP REAL GDP

(Q1 2021) (Q1 2021)
N40.01 trillion N16.83 trillion
2.28% 2.55%
2.10% 2.12% 0.11% 0.51%
1.87%
Q1 2019 Q2 2019 Q2 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021
-6.10% -3.62%
YEARLY GDP GROWTH RATE

6.22%
5.49%
4.21%
2.79% 2.27%
1.91%
0.82%
2012 2013 2014 2015 2016 2017 2018 2019 2020
-1.58% -1.92%
6
GDP REPORT Q1 2021
CONTRIBUTION OF OIL AND CONTRIBUTION OF OIL AND

NON-OIL SECTORS NON-OIL SECTORS
NON-OIL GDP
9.25% OIL
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2019 2019 2019 2019 2020 2020 2020 2020 2021
90.78 91.02 90.23 92.68 90.50 91.07 91.27 94.13 90.75
OIL GDP
90.75% NON - OIL

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2019 2019 2019 2019 2020 2020 2020 2020 2021
9.22 8.98 9.77 7.32 9.50 8.93 8.73 5.87 9.25
OIL PRODUCTION (MBPD) CONTRIBUTION TO REAL GDP

Q1 2021 (%)
AGRICULTURE 22.35%
1.98 1.84 1.94 1.91 1.99 2.02 2.04 2.00 2.07 1.81 1.67 1.56 1.72
INDUSTRIES 23.75%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021
SERVICES 53.90%
SHARE OF AGRICULTURE, SHARE OF OIL

INDUSTRY AND SERVICES AND NON-OIL SECTORS
7
MAJOR ECONOMIC SECTORS: Q1 2021
Mining & Quarrying
The Mining & Quarrying sector consists of Crude Petroleum and Natural Gas, Coal Mining, Metal ore and
Quarrying and other Minerals sub-activities.
This sector grew nominally by –0.13% (year on year) in Q1 2021. Metal Ore exhibited the highest growth
rate of all the sub-activities at 46.05%, followed by Coal mining activity at 14.11%. However, Crude
Petroleum and Natural gas was the main contributor to the sector with a weight of 99.47% in Q1 2021.
Comparing Q1 2021's rate of growth against the Q1 2020 and Q4 2020 growth rates indicates an increase
of 10.44% points and 12.19% points respectively. The Mining & Quarrying sector contributed 7.09% to
aggregate GDP in the first quarter of 2021, lower than the contributions recorded in the first quarter of
2020 at 7.97% but higher than the previous quarter growth rate of 5.46%.
In real terms, the Mining and Quarrying sector grew by –2.19% (year-on-year) in the first quarter of 2021.
Compared to the same quarter of 2020, the sector growth rate was lower by –6.77% points but higher by
16.25% points when compared to the fourth quarter of 2020. Quarter on quarter, growth rate recorded
was 31.15%. The contribution of Mining and Quarrying to real GDP in the quarter under review stood at
9.28%, lower than the rate of 9.54% recorded in the corresponding quarter of 2020 but higher than the
6.09% recorded in the fourth quarter of 2020.
Figure 4: Mining and Quarrying real growth
8
GDP REPORT Q1 2021
Mining and Quarrying Sector: Q1 2020 – Q1 2021
Mining and Quarrying sector
Mining and Quarrying Sector contracted by -2.19% in Q1 2021 from -18.44% in Q4 2020
and 4.58% in Q1 2020.
9
GDP REPORT Q1 2021
Crude Petroleum and Natural Gas: Q1 2020 – Q1 2021
Crude Petroleum
Crude Petroleum and Natural Gas under Mining and Quarrying Sector contracted by -
2.21% in Q1 2021 from -19.76% in Q4 2020 and 5.06% in Q1 2020.
10
GDP REPORT Q1 2021
Coal Mining : Q1 2020 – Q1 2021
Coal Mining
Coal Mining under Mining and Quarrying Sector grew by 0.66% in Q1 2021 from -23.16%
in Q4 2020 and -43.41% in Q1 2020.
11
GDP REPORT Q1 2021
Metal Ores Sector: Q1 2020 – Q1 2021
Metal Ores
Metal Ores under Mining and Quarrying Sector grew by 28.83% in Q1 2021 from -9.38% in
Q4 2020 and -4.10% in Q1 2020.
12
GDP REPORT Q1 2021
Quarrying and Other Minerals: Q1 2020 – Q1 2021
Quarrying and Other Minerals
Quarrying and Other Minerals under Mining and Quarrying Sector contracted by -59.78%
in Q1 2021 from 48.42% in Q4 2020 and -83.03% in Q1 2020.
13
Agriculture
Four sub-activities make up the Agricultural sector: Crop Production, Livestock, Forestry and Fishing. The
sector grew by 15.14% year-on-year in nominal terms in Q1 2021, showing a decline of -7.33% points from
the corresponding quarter of 2020 but an increase of 1.11% points when compared with the preceding
quarter's growth rate of 14.03%. Crop Production remained the major driver of the sector, as it accounts
for 71.69% of overall nominal growth of the sector in first quarter 2021. Quarter-on-quarter growth stood
at –18.80% in the first quarter of 2021.
Agriculture contributed 21.42% to nominal GDP in the first quarter of 2021. This figure was higher than
the rates recorded for the first quarter of 2020 but lower than the fourth quarter of 2020 which recorded
20.88% and 24.23% respectively.
Figure 5: Agriculture real growth
In real terms, the agricultural sector in the first quarter of 2021 grew by 2.28% (year-on-year), an increase
of 0.07% points from the corresponding period of 2020, but a decrease of -1.14% points from the
preceding quarter which recorded a growth rate of 3.42%. Quarter-on-quarter, the agriculture sector
grew at –28.61%.
In terms of contribution, the sector accounted for 22.35% of overall GDP in real terms in Q1 2021, higher
than the contribution in the first quarter of 2020 but lower than the fourth quarter of 2020 which stood at
21.96% and 26.95% respectively.
14
GDP REPORT Q1 2021
Agriculture: Q1 2020 – Q1 2021
Agriculture sector
Agricultural sector grew by 2.28% in Q1 2021 from 3.42% in Q4 2020 and 2.20% in Q1
2020.
15
GDP REPORT Q1 2021
Crop Production: Q1 2020 – Q1 2021
Crop Production
Crop Production under Agricultural sector grew by 2.31% in Q1 2021 from 3.68% in Q4
2020 and 2.38% in Q1 2020.
16
GDP REPORT Q1 2021
Livestock: Q1 2020 – Q1 2021
Livestock
Livestock under agriculture sector grew by 1.65% in Q1 2021 from 2.38% in Q4 2020 and
0.63% in Q1 2020.
17
GDP REPORT Q1 2021
Forestry: Q1 2020 – Q1 2021
Forestry
Forestry under agriculture sector grew by 1.28% in Q1 2021 from 1.24% in Q4 2020 and
1.71% in Q1 2020.
18
GDP REPORT Q1 2021
Fishing: Q1 2020 – Q1 2021
Fishing
Fishing under agriculture sector grew by 3.24% in Q1 2021 from -3.60% in Q4 2020 and
1.49% in Q1 2020.
19
Manufacturing
The Manufacturing sector is comprised of thirteen activities: Oil Refining; Cement; Food, Beverages and
Tobacco; Textile, Apparel, and Footwear; Wood and Wood products; Pulp Paper and Paper products;
Chemical and Pharmaceutical products; Non-metallic Products, Plastic and Rubber products; Electrical
and Electronic, Basic Metal and Iron and Steel; Motor Vehicles and Assembly; and Other Manufacturing.
Nominal GDP growth of the Manufacturing sector in the first quarter of 2021 was recorded at 32.10%
(year-on-year), 3.62% points higher than recorded in the corresponding period of 2020 (28.47%) and
7.50% points higher than the preceding quarter figure of 24.60%. Quarter-on-quarter growth of the
sector was recorded at 9.03%. The contribution of Manufacturing to Nominal GDP in the first quarter of
2021 was 15.27%, which was also higher than the corresponding period of 2020 at 12.98% and the fourth
quarter of 2020 at 12.87%.
Real GDP growth in the manufacturing sector in the first quarter of 2021 was 3.40% (year on year), higher
than the same quarter of 2020 and the preceding quarter by 2.97% points and 4.92% points respectively.
The growth rate of the sector on a quarter-on-quarter basis stood at -0.66%. Real contribution to GDP was
9.93%, higher than the 9.65% recorded in the first quarter of 2020 and 8.60% recorded in the fourth
quarter 2020.
Figure 6: Manufacturing real growth
20
GDP REPORT Q1 2021
Manufacturing Sector: Q1 2020 – Q1 2021
Manufacturing sector
Manufacturing Sector grew by 3.40% in Q1 2021 from -1.51% in Q4 2020 and 0.43% in Q1
2020.
21
GDP REPORT Q1 2021
Oil Refining : Q1 2020 – Q1 2021
Oil Refining
Oil Refining under Manufacturing Sector contracted by -57.05% in Q1 2021 from -56.50%
in Q4 2020 and -52.81% in Q1 2020.
22
GDP REPORT Q1 2021
Cement: Q1 2020 – Q1 2021
Cement
Cement under Manufacturing Sector grew by 11.20% in Q1 2021 from 6.59% in Q4 2020
and 1.67% in Q1 2020.
23
GDP REPORT Q1 2021
Food, Beverage and Tobacco: Q1 2020 – Q1 2021
Food, Beverage and Tobacco
Food, Beverage and Tobacco under Manufacturing Sector grew by 7.11% in Q1 2021 from
2.15% in Q4 2020 and 1.10% in Q1 2020.
24
GDP REPORT Q1 2021
Textile, Apparel and Footwear: Q1 2020 – Q1 2021
Textile, Apparel and Footwear
Textile, Apparel and Footwear under Manufacturing Sector contracted by -4.53% in Q1

2021 from -5.55% in Q4 2020 and 1.03% in Q1 2020.
25
GDP REPORT Q1 2021
Wood and Wood Products: Q1 2020 – Q1 2021
Wood and Wood Products
Wood and Wood Products under Manufacturing Sector contracted by -2.36% in Q1 2021
from -3.17% in Q4 2020 and 1.25% in Q1 2020.
26
GDP REPORT Q1 2021
Pulp, Paper and Paper Products: Q1 2020 – Q1 2021
Pulp, Paper and Paper Products
Pulp, Paper and Paper Products under Manufacturing Sector contracted by -0.26% in Q1
2021 from -4.52% in Q4 2020 and 1.99% in Q1 2020.
27
GDP REPORT Q1 2021
Chemical and Pharmaceutical Product: Q1 2020 – Q1 2021
Chemical and Pharmaceutical Products
Chemical and Pharmaceutical Products under Manufacturing Sector grew by 3.91% in Q1

2021 from -0.78% in Q4 2020 and 0.58% in Q1 2020.
28
GDP REPORT Q1 2021
Non-Metallic Products: Q1 2020 – Q1 2021
Non-Metallic Products
Non-Metallic Products under Manufacturing Sector grew by 2.88% in Q1 2021 from -

9.92% in Q4 2020 and -1.35% in Q1 2020.
29
GDP REPORT Q1 2021
Plastic and Rubber Products: Q1 2020 – Q1 2021
Plastic and Rubber Products
Plastic and Rubber products under Manufacturing Sector grew by 1.68% in Q1 2021 from
0.23% in Q4 2020 and 1.28% in Q1 2020.
30
GDP REPORT Q1 2021
Electrical and Electronics: Q1 2020 – Q1 2021
Electrical and Electronics
Electrical and Electronics under Manufacturing Sector contracted by -4.46% in Q1 2021

from -12.14% in Q4 2020 and -1.59% in Q1 2020.
31
GDP REPORT Q1 2021
Basic Metal , Iron and Steel: Q1 2020 – Q1 2021
Basic metal , Iron and Steel
Basic metal, Iron and Steel under Manufacturing Sector contracted by -1.63% in Q1 2021
from -3.92% in Q4 2020 and 1.19% in Q1 2020.
32
GDP REPORT Q1 2021
Motor Vehicles & Assembly: Q1 2020 – Q1 2021
Motor Vehicles & Assembly
Motor vehicles & Assembly under Manufacturing Sector grew by 3.29% in Q1 2021 from
2.02% in Q4 2020 and 1.04% in Q1 2020.
33
GDP REPORT Q1 2021
Other Manufacturing: Q1 2020 – Q1 2021
Other Manufacturing
Other Manufacturing under Manufacturing Sector grew by 3.75% in Q1 2021 from -4.26%
in Q4 2020 and -1.78% in Q1 2020.
34
Electricity, Gas, Steam and Air Conditioning Supply
The Electricity, Gas, Steam and Air conditioning Supply sector recorded a year on year growth of 30.70% in
the first quarter of 2021. This was 13.19% points higher than the 17.51% growth rate recorded in the
corresponding quarter of 2020, and 13.43% points higher than the growth rate of 17.27% recorded in the
preceding quarter. Quarter–on-quarter, the sector recorded a growth rate of -58.73% in Q1 2021. The
contribution of Electricity, Gas, Steam and Air Conditioning Supply to nominal GDP in the first quarter of
2021 was 0.44%, higher than the contribution in the corresponding quarter of 2020 at 0.38% but lower
than its contribution of 0.98% in the preceding quarter.
In real terms, the sector grew by 8.66% in Q1 2021, an improvement from the growth rate of –2.31%
recorded in the same quarter of 2020. When compared to the immediate past quarter, there was an
increase of 11.17% points from –2.51% recorded. Quarter-on-quarter, the sector grew at a rate of -
60.59%. The contribution of this sector to real GDP in the first quarter of 2021 was 0.22%, slightly higher
than 0.20% recorded in Q1 2020 but lower than 0.48% recorded in Q4 2020.
Figure 7: Elect. Gas and Steam real growth
35
GDP REPORT Q1 2021
Electricity, Gas, Steam and Air Conditioning Supply: Q1 2020 – Q1 2021
Electricity, Gas ,Steam And Air Conditioning Supply
Electricity, Gas, Steam And Air Conditioning Supply sector grew by 8.66% in Q1 2021 from
-2.51% in Q4 2020 and -2.31% in Q1 2020.
36
Construction
The Construction sector grew by 43.88% in nominal terms (year on year) in the first quarter of 2021, a
drop by –0.38% points compared to the rate of 44.26% recorded in the same quarter of 2020. There was an
increase by 0.30% points when compared to the rate recorded in the preceding quarter. Nominal growth
quarter-on-quarter was recorded at 11.27%. Construction contributed 10.17% to nominal GDP in the
first quarter of 2021, higher than the 7.94% it contributed a year earlier and the 8.40% contributed in the
fourth quarter of 2020.
The real growth rate of the construction sector in the first quarter of 2021 was recorded at 1.42% (year on
year), lower by –0.26% points from the rate recorded the previous year. Relative to the preceding quarter,
there was an increase of 0.21% points. Quarter on quarter, the sector grew by 1.95% in real terms, higher
than the 1.74% it recorded in the first quarter of 2020.
Its contribution to aggregate real GDP was 4.12% in the first quarter of 2021, higher than its contribution
of 4.08% in the same quarter of the previous year, and the preceding quarter where it contributed 3.47%.
Figure 8: Construction real growth
37
GDP REPORT Q1 2021
Construction: Q1 2020 – Q1 2021
Construction
Construction sector grew by 1.42% in Q1 2021 from 1.21% in Q4 2020 and 1.69% in Q1
2020.
38
Trade
In the first quarter of 2021, the nominal year on year growth rate of Trade sector stood at 0.13%. This
indicates an increase by 0.40% points when compared to the Q1 2020 growth rate of -0.27% and 0.79%
points higher than the preceding quarter growth rate of –0.66%. The quarter-on-quarter growth rate was
-12.54%. Trade's contribution to nominal GDP in the first quarter of 2021 was 13.46%, lower than the
contribution in the same quarter of the previous year of 15.09%, and the preceding quarter recorded at
14.13%.
Figure 9: Trade real growth
In real terms, Trade's year on year growth stood at –2.43% in the first quarter of 2021, which was 0.39%
points higher than the rate recorded the previous year at -2.82%, and 0.77% points higher than the
preceding quarter's –3.20% growth rate. Quarter-on-quarter growth stood at -13.10%, higher than the
quarter-on-quarter growth recorded in the first quarter of 2020 at -13.79%. Trade's contribution to GDP
was 15.61%, lower than the 16.08% represented in the previous year, but higher than the 15.46%
recorded in the fourth quarter of 2020.
39
GDP REPORT Q1 2021
Trade: Q1 2020 – Q1 2021
Wholesale and Retail Trade
Trade sector contracted by -2.43% in Q1 2021 from -3.20% in Q4 2020 and -2.82% in Q1
2020.
40
Accommodation and Food Services
In nominal terms, Accommodation and Food Services grew by 11.39% year on year in Q1 2021. This
represented a decline of –1.88% points relative to the same quarter of 2020 when the growth rate was
13.27%. However, growth was higher than in the preceding quarter by 12.18% points. Quarter-on-
quarter growth stood at 12.69%. Accommodation and Food Services' contribution to nominal GDP stood
at 1.20% in the first quarter 2021, slightly lower than the figure recorded a year earlier but higher than the
fourth quarter 2020 contribution of 0.97%.
The real year on year growth rate for this sector in the first quarter of 2021 stood at –4.60%, lower by
–1.61% points from -2.99% recorded a year earlier. Relative to the preceding quarter, growth rate was
10.43% points higher from –15.03% recorded. Quarter-on-quarter real growth was 8.41%. The sector
represented 1.01% of real GDP, which is lower than its contribution of 1.07% recorded in the first quarter
of 2020 but higher than the fourth quarter 2020 contribution of 0.80%.
41
GDP REPORT Q1 2021
Accommodation and Food Services: Q1 2020 – Q1 2021
Accommodation and Food Services
Accommodation and Food Services Sector Contracted by -4.60% in Q1 2021 from -15.03%
In Q4 2020 and -2.99% in Q1 2020.
42
Information & Communication
The Information and Communication sector is composed of the four activities of Telecommunications and
Information Services; Publishing; Motion Picture, Sound Recording and Music Production; and
Broadcasting.
In nominal terms, the sector growth was recorded at 7.86% (year-on-year) in the first quarter of 2021, a -
1.07% points decrease from the rate of 8.94% recorded in the same quarter of 2020, and -8.46% points
lower than the rate recorded in the preceding quarter. The Quarter-on-quarter growth rate recorded in
Q1 2021 was -13.95%. The Information and Communications sector contributed 9.91% to total nominal
GDP in Q1 2021, lower than the rate of 10.31% recorded in the same quarter of 2020 and 10.58%
contributed in the preceding quarter.
The sector, in the first quarter of 2021, recorded a growth rate of 6.47% in real terms, year on year. From
the rate recorded in the corresponding period of 2020, there was a decrease of -1.18% points. Quarter on
quarter, the sector recorded a growth rate of -14.80% in real terms. In addition, the sector contributed
14.91% to aggregate real GDP in Q1 2021, higher than in the same quarter of the previous year in which it
represented 14.07% but lower than the preceding quarter, in which it represented 15.06%.
Figure 10: Real Information & Communication growth
43
GDP REPORT Q1 2021
Information and Communication : Q1 2020 – Q1 2021
Information and Communication sector
Information and Communication Sector grew by 6.31% in Q1 2021 from 14.70% in Q4

2020 and 9.99% in Q1 2020.
44
GDP REPORT Q1 2021
Telecommunications: Q1 2020 – Q1 2021
Telecommunications
Telecommunications & Information Services under Information and Communication

Sector grew by 7.69% in Q1 2021 from 17.64% in Q4 2020 and 9.71% in Q1 2020.
45
GDP REPORT Q1 2021
Publishing: Q1 2020 – Q1 2021
Publishing
Publishing under Information and Communication Sector contracted by -1.45% in Q1

2021 from -2.59% in Q4 2020 and 0.10% in Q1 2020.
46
GDP REPORT Q1 2021
Motion Pictures, Sound Recording and
Music Production: Q1 2020 – Q1 2021
Motion Pictures, Sound recording and Music production
Motion Pictures, Sound recording and Music production under Information and
Communication Sector grew by 2.21% in Q1 2021 from 2.51% in Q4 2020 and 0.33% in Q1
2020.
47
GDP REPORT Q1 2021
Broadcasting: Q1 2020 – Q1 2021
Broadcasting
Broadcasting under Information and Communication Sector grew by 2.45% in Q1 2021

from 4.42% in Q4 2020 and 1.81% in Q1 2020.
48
Transportation and Storage
Six activities make up the Transportation and Storage sector: Road Transport; Rail Transport and
Pipelines; Water Transport; Air Transport; Transport Services; and Post and Courier Services.
The Transportation and Storage sector grew by –9.25% in nominal terms in the first quarter of 2021 (year
on year). This rate was lower relative to the figure of 20.44% recorded for the corresponding quarter of
2020 and –3.76% recorded in the previous quarter. Three of the six sub-activities under Transport and
Storage industry recorded negative growth rates in the first quarter 2021: Road Transport, Rail Transport
and Water Transport. Quarter-on-quarter growth stood at 7.85%. Transport activities contributed 2.16%
to nominal GDP in Q1 2021, a decline from the 2.68% recorded in the corresponding period of 2020, but
higher than 1.84% recorded in fourth quarter of 2020.
In real terms, the Transportation and Storage sector grew by –21.89% in Q1 2021. This rate represented a
decrease of –24.71% points relative to the same quarter of the previous year and a decrease of -15.94%
points relative to the preceding quarter. Quarter on quarter, growth was -10.41%. The contribution of the
sector to real GDP in the Q1 2021 stood at 1.38%, a fall from 1.77% recorded the previous year but higher
than 1.32% recorded in the fourth quarter of 2020.
49
GDP REPORT Q1 2021
Transportation and Storage: Q1 2020 – Q1 2021
Transportation and Storage sector
Transportation and Storage Sector Contracted by -21.89% in Q1 2021 from -5.95% In Q4

2020 and 2.82% in Q1 2020.
50
GDP REPORT Q1 2021
Road Transport: Q1 2020 – Q1 2021
Road Transport
Road Transport under Transportation and Storage Sector Contracted by -23.75% in Q1

2021 from -1.37% in Q4 2020 and 2.83% in Q1 2020.
51
GDP REPORT Q1 2021
Rail Transport & Pipelines: Q1 2020 – Q1 2021
Rail Transport & Pipelines
Rail Transport & Pipelines under Transportation and Storage Sector Contracted by -7.30%
in Q1 2021 from -11.99% in Q4 2020 and 2.09% in Q1 2020.
52
GDP REPORT Q1 2021
Water Transport: Q1 2020 – Q1 2021
Water Transport
Water Transport under Transportation and Storage Sector Contracted by -6.42% in Q1

2021 from -12.12% in Q4 2020 and 0.08% in Q1 2020.
53
GDP REPORT Q1 2021
Air Transport: Q1 2020 – Q1 2021
Air Transport
Air Transport under Transportation and Storage Sector Contracted by -11.78% in Q1 2021
from -51.69% in Q4 2020 and 5.68% in Q1 2020.
54
GDP REPORT Q1 2021
Transport Services: Q1 2020 – Q1 2021
Transport Services
Transport Services under Transportation and Storage Sector Contracted by -0.50% in Q1

2021 from -2.73% in Q4 2020 and -1.38% in Q1 2020.
55
GDP REPORT Q1 2021
Post and Courier Services: Q1 2020 – Q1 2021
Post and Courier Services
Post and Courier Services under Transportation and Storage Sector grew by 2.53% in Q1
2021 from 1.65% in Q4 2020 and -1.01% in Q1 2020.
56
Arts, Entertainment and Recreation
In nominal terms, the Arts, Entertainment and Recreation sector grew by –0.47% in the first quarter of
2021 (year-on-year), representing an increase of 0.40% points relative to the preceding quarter growth
rate of -0.87%, and a decrease of -2.68% points compared with the preceding year's rate of 2.20%. On a
quarter-on-quarter basis, growth was recorded at 31.69%, higher than quarter-on-quarter growth of Q1
2020 recorded at 31.16%. The activity contributed 0.22% to total nominal GDP in first quarter 2021. This
contribution was lower than the 0.25% it contributed in Q1 2020 but higher than the 0.15% recorded in
Q4 2020.
In real terms, this activity grew by –1.13% year on year which was slower than the rate recorded in Q1
2020 by –2.66% points, but 0.40% points higher when compared with the preceding quarter. Quarter on
quarter, growth stood at 31.47% in real terms, higher than quarter-on-quarter growth recorded in Q1
2020 at 30.95%. Overall, Art, Entertainment and Recreation contributed 0.30% to real GDP in Q1 2021,
slightly lower than the 0.31% recorded the previous year but higher than 0.20% recorded in the fourth
quarter of 2020.
57
GDP REPORT Q1 2021
Arts, Entertainment and Recreation: Q1 2020 – Q1 2021
Arts, Entertainment and Recreation
Arts, Entertainment and Recreation Sector contracted by -1.13% in Q1 2021 from -1.52%
in Q4 2020 and 1.53% in Q1 2020.
58
Real Estate Services
In nominal terms, Real Estate Services in the first quarter of 2021 grew by 8.04%, or 6.92% points higher
than the growth rate reported for the same period in 2020 but lower by -1.11% points compared to the
preceding quarter. Quarter-on-quarter growth rate for the sector was -27.76%. The contribution to
nominal GDP in Q1 2021 stood at 5.03% as against 5.23% recorded in the first quarter of 2020 and the
6.40% recorded for the fourth quarter of 2020.
Real GDP growth recorded in the sector for the first quarter of 2021 stood at 1.77%, higher than the
growth recorded in first quarter of 2020 by 6.52% points, but lower by -1.04% points relative to Q4 2020.
Quarter on quarter, the sector grew by -28.83% in the first quarter 2021. It contributed 5.28% to real
GDP in Q1 2021, higher than the 5.21% it recorded in the corresponding quarter of 2020.
59
GDP REPORT Q1 2021
Real Estate: Q1 2020 – Q1 2021
Real Estate
Real Estate Sector grew by 1.77% in Q1 2021 from 2.81% in Q4 2020 and -4.75% in Q1
2020.
60
Finance and Insurance
The Financial and Insurance Services sector consists of the two subsectors, Financial Institutions and
Insurance, which accounted for 87.55% and 12.45% of the sector respectively in real terms in Q1 2021.
The sector grew at 2.15% in nominal terms (year on year), with the growth rate of Financial Institutions as
2.78% and –2.08% growth rate recorded for Insurance. The overall rate was lower than that in Q1 2020 by
–21.81% points, but 3.25% points higher than the preceding quarter. Quarter-on-quarter growth stood at
6.47%. The sector's contribution to the aggregate nominal GDP was 3.25% in Q1 2021, lower than the
3.57% it represented the previous year, but higher than the contribution of 2.80% in the preceding
quarter.
In real terms, the Financial and Insurance Services sector grew by –0.46%, or –21.26% points lower from
the rate recorded in the first quarter of 2020, but 3.16% points higher than the rate recorded in the
preceding quarter. Quarter-on-quarter growth in real terms stood at 5.78%. The sector's contribution to
real GDP was 3.77%, lower than the contribution of 3.81% recorded in the first quarter of 2020 by –0.04%
points, but higher than 3.07% recorded in Q4 2020 by 0.70% points.
Figure 11: Finance and Insurance real growth
61
GDP REPORT Q1 2021
Financial Institutions: Q1 2020 – Q1 2021
Financial Institutions
Financial Institutions under Financial and Insurance Sector grew by 0.15% in Q1 2021
from -2.48% in Q4 2020 and 24.00% in Q1 2020.
62
GDP REPORT Q1 2021
Insurance: Q1 2020 – Q1 2021
Insurance
Insurance under Financial and Insurance Sector contracted by -4.58% in Q1 2021 from -
14.30% in Q4 2020 and 2.94% in Q1 2020.
63
GDP REPORT Q1 2021
Financial and Insurance: Q1 2020 – Q1 2021
Financial And Insurance
Financial and Insurance Sector Contracted by -0.46% in Q1 2021 from -3.63% in Q4 2020
and 20.79% in Q1 2020.
64
Administrative and Support Services
In nominal terms, the Administrative and Support Services sector grew by 1.83% (year on year) in Q1
2021, higher by 1.15% points compared to the first quarter of 2020 and 4.66% points higher than the
growth rate in the preceding quarter. Quarter on quarter, growth rate in the sector was –12.94% in Q1
2021. The contribution of Administrative and Support Services to nominal GDP was 0.02% in Q1 2021,
relatively same as the 0.02% contributed in the same period in 2020 and in the preceding quarter.
In real terms, the sector recorded a growth rate of –0.77% (year-on-year), an increase of 1.12% points
from the corresponding quarter of 2020 and 4.54% points from the rate recorded in Q4 2020.
Quarter–on-quarter growth rate was recorded at –13.50% in Q1 2021. The sector's contribution to real
GDP was 0.02% in 2021 first quarter, unchanged from the corresponding quarter in 2020 and 2020 fourth
quarter.
65
GDP REPORT Q1 2021
Administrative & Support Services: Q1 2020 – Q1 2021
Administrative & Support Services
Administrative & Support Services Sector contracted by -0.77% in Q1 2021 from -5.31% in
Q4 2020 and -1.90% in Q1 2020.
66
Professional, Scientific and Technical Services
In the first quarter of 2021, Professional, Scientific and Technical Services recorded a nominal growth of
–1.31% (year-on-year), which is –3.54% points lower than Q1 2020, but 1.64% points higher than the rate
recorded in Q4 2020. Quarter-on-quarter, the sector grew by -17.57%, and accounting for 2.82% of
nominal GDP in Q1 2021. This contribution was lower than the 3.21% contribution in Q1 2020 and the
3.14% recorded in Q4 2020.
Real growth in the sector was recorded at –3.84% in Q1 2021, a decline of –3.45% points relative to the
rate recorded in the corresponding period of 2020, but 1.60% points higher than that of Q4 2020. On a
quarter-on-quarter basis, the sector grew by -18.10% in Q1 2021. Professional, Scientific and Technical
Services contributed 3.27% to aggregate GDP in Q1 2021, lower than the 3.42% contributed in Q1 2020
and 3.44% recorded in Q4 2020.
67
GDP REPORT Q1 2021
Professional, Scientific and Technical Services: Q1 2020 – Q1 2021
Professional, Scientific and Technical Services
Professional, Scientific and Technical Services Sector contracted by -3.84% in Q1 2021

from -5.43% in Q4 2020 and -0.39% in Q1 2020.
68
Education
Nominal growth In the Education sector in the first quarter of 2021 was –0.30% (year-on-year), down by
–7.33% points from the growth of 7.03% reported in the corresponding quarter of 2020, but 5.56% points
higher when compared to Q4 2020 growth rate of –5.86%. The contribution of Education to nominal GDP
in Q1 2021 was 1.75%, down from 1.97% estimated in Q1 2020 and 2.06% in Q4 2020.
Real growth in Education year-on-year stood at -6.20% in Q1 2021, a decline of –6.89% points from the
corresponding quarter of 2020 which was estimated at 0.69%. However, when compared with the
previous quarter's rate of -11.43%, the sector's growth was higher by 5.23% points. The Education sector
contributed 1.94% to aggregate real GDP in Q1 2021, which was lower than 2.08% reported for the
corresponding quarter of 2020 and the 2.18% recorded in Q4 2020.
69
GDP REPORT Q1 2021
Education: Q1 2020 – Q1 2021
Education
Education Sector contracted by -6.20% in Q1 2021 from -11.43% in Q4 2020 and 0.69% in
Q1 2020.
70
Public Administration
In nominal terms, the Public Administration sector grew by 1.72% in Q1 2021, higher by 8.05% points from
the corresponding quarter of 2020 but lower by –2.76% points relative to Q4 2020. Quarter-on-quarter,
the sector grew by -35.70%, accounting for 1.43% of nominal GDP in Q1 2021. This contribution was
lower than the 1.57% recorded in Q1 2020 by –0.15% points and the 2.04% recorded in Q4 2020 by -
0.61% points.
In real terms, the Public Administration sector recorded a growth rate of -0.88% (year on year) in Q1 2021,
7.84% points higher than the Q1 2020 rate, but –2.69% points lower than the 1.8% recorded in Q4 2020.
Quarter on quarter, the sector grew by -36.11% in Q1 2021, contributing 1.65% to real GDP in Q1 2021,
which is slightly lower compared to 1.68% in Q1 2020 and 2.23% in Q4 2020.
71
GDP REPORT Q1 2021
Public Administration: Q1 2020 – Q1 2021
Public Administration
Public Administration Sector contracted by -0.88% in Q1 2021 from 1.80% in Q4 2020 and
-8.72% in Q1 2020.
72
Human Health and Social Services
The year-on-year growth rate for Human Health and Social Services in nominal terms was 10.84%, higher
than the growth rate of 7.03% reported in the same quarter of 2020 by 3.80% points and by 1.69% points
compared to Q4 2020. Quarter-on-quarter growth was -4.83% while the contribution to nominal GDP
was 0.60% in Q1 2021, slightly lower than the 0.61% recorded in Q1 2020 but higher than the 0.58%
recorded in Q4 2020.
Real GDP growth of Human Health and Social Services for Q1 2021 stood at 4.65% (year-on-year)
compared to 1.06% for the corresponding period of 2020, indicating an increase of 3.59% points. The
growth in Q1 2021 was also higher than the growth recorded in Q4 2020 by 1.60% points. Quarter-on-
quarter, this sector grew by -6.19%. The contribution of Human Health and Social Services to real GDP
was 0.71% in Q1 2021, higher than the 0.68% recorded in Q1 2020 and 0.65% recorded in the preceding
quarter.
73
GDP REPORT Q1 2021
Human Health and Social Services: Q1 2020 – Q1 2021
Human Health and Social Services
Human Health and Social Services Sector grew by 4.65% in Q1 2021 from 3.05% in Q4
2020 and 1.06% in Q1 2020.
74
Other Services
In nominal terms, Other Services grew by –0.41% (year-on-year) in Q1 2021. This growth rate was lower
than the 3.71% growth rate recorded in the same quarter of the previous year but higher than the growth
rate of -1.76% recorded in Q4 2020 by –4.11% points and 1.36% points respectively. Quarter-on-quarter
growth was 1.25%. This sector contributed 3.49% to the aggregate nominal GDP in Q1 2021, lower than
the 3.93% it contributed in the same period of the previous year and higher than 3.17% it contributed in
the preceding quarter.
Other Services GDP grew in real terms by –2.95% (year-on-year) in Q1 2021, –4.01% points lower than
the growth recorded in the same period of the previous year, but 1.32% points higher than Q4 2020.
Quarter-on-quarter real growth was 0.60%. The sector contributed 4.05% to real GDP in Q1 2021 against
the 4.19% recorded for the corresponding quarter of 2020 and the 3.46% recorded in Q4 2020.
75
GDP REPORT Q1 2021
Other Services: Q1 2020 – Q1 2021
Other Services
Other Services Sector contracted by -2.95% in Q1 2021 from -4.27% in Q4 2020 and 1.06%
in Q1 2020.
76
GDP REPORT Q1 2021
Water Supply, Sewerage, Waste Management
and Remediation: Q1 2020 – Q1 2021
Water Supply,Sewerage, Waste Management And Remediation
Water Supply, Sewerage, Waste Management And Remediation sector grew by 14.75% in
Q1 2021 from 1.92% in Q4 2020 and -0.18% in Q1 2020.
77
GDP REPORT Q1 2021
Industries: Q1 2020 – Q1 2021
Industries
Industries Sector grew by 0.94% in Q1 2021 from -7.30% in Q4 2020 and 2.26% in Q1
2020.
WATER SUPPLY,SEWERAGE,
ELECTRICITY, GAS ,STEAM AND WASTE MANAGEMENT
AIR CONDITIONING SUPPLY AND REMEDIATION CONSTRUCTION MINING AND QUARRYING MANUFACTURING
INDUSTRIES
78
GDP REPORT Q1 2021
Services: Q1 2020 – Q1 2021
Services
TRADE
ACCOMMODATION AND FOOD SERVICES
TRANSPORTATION AND STORAGE
Road Transport
Rail Transport & Pipelines
Water Transport
Air Transport
Transport Services
Post and Courier Services
INFORMATION AND COMMUNICATION
Telecommunications
Publishing,
Motion Pictures, Sound recording and Music production
Broadcasting
ARTS, ENTERTAINMENT AND RECREATION
FINANCIAL AND INSURANCE
Financial Institutions
Insurance
REAL ESTATE
PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES
ADMINISTRATIVE & SUPPORT SERVICES
PUBLIC ADMINISTRATION
EDUCATION
HUMAN HEALTH AND SOCIAL SERVICES
OTHER SERVICES
79
GDP REPORT Q1 2021
Services: Q1 2020 – Q1 2021
Services
Services Sector contracted by -0.39% in Q1 2021 from 1.31% in Q4 2020 and 1.57% in Q1
2020.
80
METHODOLOGICAL NOTES
Quarterly National Accounts (QNA) are an integrated system of macroeconomic accounts designed to describe the entire
system of production in a nation on a quarterly basis. They provide a picture of the current economic status of an economy on a
more frequent basis than Annual National Accounts (ANA). In providing a reasonable level of detailed information of the
economy, QNA allows the government to regularly assess, analyze and monitor economic developments.
In line with international standards outlined under the United Nations Statistics Division (UNSTATS), four major
methodological pillars underpin GDP compilation in Nigeria:
The System of National Accounts (SNA 2008 version)
The internationally agreed standard of recommendations as to how to compile measures of economic activity.
The International Standard Industrial Classification (ISIC Revision 4.0):

This is the international reference for the classification of productive activities. Its main purpose is to provide a set of activity
categories that can be used for the collection and reporting of statistics according to such activities.
The Central Product Classification (CPC version 2)

A classification based on the physical characteristics of goods or on the nature of services rendered. The CPC covers products
that are output of economic activities.
Data for this analysis were obtained from the Quarterly Establishment Survey (QES) conducted by the National Bureau of
Statistics (NBS), tax receipts from the Federal Inland Revenue Service, and other administrative sources such as the Nigerian
National Petroleum Corporation. The series covers major aggregates of quarterly GDP under 46 activities at current and
constant (2010) prices.
Using the above data and standards, GDP is computed as gross output minus intermediate consumption. Both gross output and
intermediate consumption are detailed below for each activity:
1. AGRICULTURE
Under Section A, Division 01-03 of ISIC rev 4, Agriculture is divided into four main activities.
1.1 CROP PRODUCTION

Section A, Division 01 of ISIC Rev 4
Gross Output: Quantities produced multiplied by farm gate price, less losses (wastages).
Intermediate consumption: Seeds, fertilizer, pesticides, hire of farm implements and simple farm tools that are used up
in one farming season.
1.2 LIVESTOCK PRODUCTION

Gross Output is calculated using the following Live animals and their produce + imports = animals slaughtered and their
produce– animals which died of natural causes +exports + change in animal stock.
Intermediate Consumption: Value of animal feeds as input in the production of livestock and livestock products (such
as broiler starter concentrate, breeder concentrate, ground cake, guinea corn etc.)
81
1.3 FORESTRY
Gross Output: Value and quantity of timbers of various types (firewood, charcoal, uncultivated materials gathered).
Other forest products obtained using expenditure approach. Sawn-logs, and other wood products categories are
obtained using the production method, whereby, the quantity of logs produced is multiplied by the price per cubic of
log.
Intermediate consumption: Expenditure on seeds and sapling, fuel oils, lubricants, feed, hand tools and spare parts,
payments for contract work and other services.
1.4 FISHING
Gross Output: Measured by multiplying quantity in kilogram by the average price to obtain the value of production.
Intermediate consumption: Intermediate consumption here is captured according to expenditure on fingerlings, nets,
feeds and other operating expenses.
2. MINING AND QUARRYING

Section B, Division 05-09 of ISIC Rev 4.0
2.1 CRUDE PETROLEUM AND NATURAL GAS

Section B, Division 06 of ISIC Rev 4
Gross Output: Quantity of crude petroleum produced (barrels) and Natural gas in million cubic feet (mcf) multiplied by
the average price in domestic currency (equivalent of the price in dollar during the account period).
Intermediate Consumption: Includes purchase of consultancy services, Transportation, Electricity Bills, Water bills,
Cost of Fuel used, Minor Repairs and Maintenance, Medical expense to staff, License & Registration fees, Travelling
allowance, Staff Uniform, Rents on machinery & buildings, Spare Parts etc.
2.2 COAL MINING

Gross Output: Quantity produced multiplied by the average price.
Intermediate Consumption: Cost of raw materials used; both imported and Local, purchase of consultancy services,
transportation, electricity bills, water bills, cost of fuel used, minor repairs and maintenance, medical expense to staff,
royalty, travelling allowance, special clothing use at work, rents on machinery & buildings, Spare Parts etc.
2.3 METAL ORES

Gross Output: Quantity produced multiplied by the average price
Intermediate Consumption: Cost of raw materials used; both imported and Local, purchase of consultancy services,
royalty, travelling allowance, special clothing used at work, rents on machinery & buildings, Spare Parts etc.
2.4 QUARRYING AND OTHER MINING

Gross Output: Quantity produced multiplied by the average price
82
Intermediate Consumption: Cost of raw materials used; both imported and local, purchase of consultancy services,
royalty, travelling allowance, special clothing used at work, rents on machinery & buildings, Spare Parts etc.
3. MANUFACTURING
Section C, Division 10-33 of ISIC Rev 4.
Gross output =Revenue from sales of goods + Revenue from sales of goods bought for resale (trade margin) + Revenue
from rendering services to other +Closing stock of finished goods -Opening stock of finished goods +Closing stock of
work-in-progress -Opening stock of work-in-progress
Intermediate consumption = Purchases of raw materials and supplies + Purchases of goods bought for resale +
Purchases of packaging materials +Fuels and lubricants +Electricity +Water and Sewerage +Repair and Maintenance
+Freight charges and transport +Closing stock of raw materials and supplies - Opening stock of raw materials and
supplies +Insurance premium +All other costs and expenses for goods and services
NOTE: For manufacturing firms where activities are non-operational (e.g an oil refining plant closed for maintenance), and
hence not producing, the cost approach specified by SNA 2008 is applied. In this case:
Gross output = compensation of employees + intermediate consumption + consumption of fixed capital
Intermediate consumption = overhead cost
Value added = Gross output — intermediate consumption
4. ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY

Section D, Division 35 of ISIC Rev 4.
Gross Output: The value of output is the amount of gas and electricity paid for. Hence, value added is the output less
intermediate consumption.
Intermediate Consumption=other cost of sales+Indirect expenses
5. WATER SUPPLY, SEWERAGE, WASTE MANAGEMENT AND REMEDIATION

Section E, Division 36 of ISIC Rev. 4
Gross output = Water revenue+Sewage revenue+New connections
Intermediate Consumption= other cost of sales+Indirect expenses
6. TRADE
Section G, Divisions 45 to 47 of ISIC Rev. 4.
Gross Output: This is equal to the trade margin, i.e. the difference between the revenue of goods sold and the value of
the goods purchased for resale.
Intermediate Consumption: Goods and services needed to run the trading establishment, such as packaging materials,
electricity, office supplies, and rentals.
7. CONSTRUCTION
Section F, Division 41 to 43 of ISIC Rev 4.
Gross Output: Value of work done and other incomes.
Intermediate Consumption: This comprises cement, blocks, metals/iron bars,sand, stone, wood, gravel, other
construction inputs, and cost of fuel used by generator, water bills and expenses on internet
83
services/telephone/postage bills during the construction period.
8. ACCOMODATION AND FOOD SERVICES

Section I, Division 55 to 56 of ISIC Rev. 4.
Gross Output: Income generated from Accommodation, Catering, Restaurants, Beverage Service activities, Other
income
Intermediate Consumption includes expenses incurred in running the businesses.
9. TRANSPORTATION AND STORAGE

This industry broadly categorized under ISIC Rev. 4, Section H, division 49-53. The sector is divided into 6 sub-
economic activities.
9.1 ROAD TRANSPORT

Section H, Division 49 of ISIC Rev 4
Gross Output: The output of road transport is the revenue generated for the period under consideration.
9.2 RAIL TRANSPORT AND PIPELINES

Gross Output: Receipts from passengers, goods traffic and subventions from Federal Government. The Petroleum
Pipeline Product income is from the transportation of the petroleum products and crude oil to designated depots and
refineries in Nigeria.
Intermediate Consumption: This consists of the summation of all expenses incurred in the production process such as
fuels and lubricants used, electricity bills, water bills, office supplies, and rentals.
9.3 WATER TRANSPORT

Gross Output: Receipts from passengers and goods traffic.
Intermediate Consumption: Fuels and lubricants used electricity bills, water bills, office supplies, and rentals.
9.4 AIR TRANSPORT

Gross Output: Receipts from passengers and Cargoes (goods traffic).
Intermediate Consumption: Fuels and lubricants used, electricity bills, water bills, office supplies, and rentals, Spare
parts, Consultancy, Audit fees
9.5 TRANSPORT SERVICES

Gross Output: Receipts from services for storage and transportation activities.
Intermediate Consumption: Fuels and lubricants used, transportation cost, electricity bills, water bills, office supplies,
and rentals.
9.6 POST AND COURIER SERVICES

84
Gross Output: Receipts from services rendered on number of mails and parcels handled.
Intermediate Consumption: Fuels and lubricants used, transportation cost, electricity bills, water bills, office supplies,
and rentals.
10. INFORMATION AND COMMUNICATION

Categorized under ISIC Rev. 4, Section J, Division 58-63, the sector is divided into 4 economic activities:
10.1 TELECOMMUNICATION AND INFORMATION SERVICES

Section J, division 61 to 63 of ISIC Rev 4.
Gross Output: Revenue from telephone, telex, Facsimile, telegraph, and other income from satellite and internet
services.
Intermediate consumption: Transit fees, operational expenditure, minor repairs and maintenance and other expenses.
10.2 PUBLISHING
Section J, Division 58 of ISIC Rev 4
Gross Output: Revenue from publishing services.
Intermediate consumption: This includes details of the cost structure including transportation fees, operational
expenditure, minor repairs etc.
10.3 MOTION PICTURE AND SOUND RECORDING

Section J, Division 59 of ISIC Rev 4.
Gross Output: Revenue generated/total sales from the number of movies and sound recordings produced including
revenue generated from TV rights, royalties and fees.
Intermediate consumption: Detail on the cost structure of operating firms including transportation fees, operational
expenditure, minor repairs and maintenance, and other administrative expenses.
10.4 BRODCASTING
Section J, Division 60 of ISIC Rev 4
Gross Output: Public corporation data derived from Accountants General’s reports, while private component relies on
revenue generated from services rendered e.g. advertisement.
Intermediate consumption: Details of the cost structure of market participants which include transportation fees,
operational expenditure, minor repairs and maintenance
11. ARTS ENTERTAINMENT AND RECREATION

Section R, division 90-93 of ISIC Rev 4.
Gross Output: Revenue generated was estimated in two categories: one as a market output and the second as non-
market output (public establishments)
Intermediate consumption: Details of the cost structure were obtained from the financial reports of firms.
12. FINANCE AND INSURANCE SERVICES

Section k, Division 64-66 of ISIC Rev 4, Finance and Insurance Services is divided into two (2) sectors.
85
12.1 FINANCIAL INSTITUTIONS

Section K, Division 64 of ISIC Rev 4
Gross Output: Gross output for financial services are measured by Financial Services Indirectly Measured (FISIM).
Gross Output = Implicit service charges (FISIM) +Explicit service changes.
Intermediate Consumption: Details of the cost structure are extracted from the data supplied such as; Currency Issue
Expenses, Administrative Expenses, Repairs and Maintenance, Consultancy Fees, Bank Charges, Audit fees, Directors
related expenses
12.2. INSURANCE
Section K, Division 65 of ISIC Rev 4
Gross Output:
Output of life insurance: Output = Actual premiums earned+Plus Premium supplements -Benefits due -Minus
Increases (plus decreases) in life insurance technical reserves
Output of non-life (General) insurance: Output = Actual premiums earned +Premium supplements - Adjusted claims
incurred
Output of funded pension fund: Output = Actual pension contributions+Supplementary contributions -Benefits due
+Plus Change in the actuarial reserves+Property income
Intermediate consumption: consists of the cost structure (operating expenses) from the annual reports of institutions.
13. REAL ESTATE

Section L, Division 68 of ISIC Rev 4
Gross Output: Sum of fees and commissions receivable for the services rendered.
Intermediate consumption: Details of the cost structure including transportation fees, operational expenditure,
minor repairs and maintenance etc.
14. PROFESSIONAL SCIENTIFIC AND TECHNICAL SERVICES

Section M, Division 69-75 of ISIC Rev 4.
Gross Output: Sum of revenues receivable for the services rendered.
15. ADMINISTRATIVE AND SUPPORT SERVICES

Section N, Division 77-82 of ISIC RE 4.
Gross Output: Sum of fees and commissions receivable for the services rendered.
16 . PUBLIC ADMINISTRATION
Section O, Division 48 of ISIC Rev. 4
Gross output Basic = Intermediate consumption (Less commodity sales and fees) +Compensation of
employees+Consumption of fixed capital +Other taxes less subsidies on production.
86
17. EDUCATION
Section P, division 85 of ISIC Rev. 4.
Gross Output: Consists of government production, which is a non-market service offered without charge or at a price
not economically significant, and private production, offered at the market price.
Government Production (non-market service):
Gross output Basic=+Intermediate consumption (Less commodity sales and fees) +Compensation of
Private Production (market service):
Gross output Basic=Total output-Intermediate consumption + other taxes less subsidies on production.
Intermediate consumption: Details of cost structure including transportation fees, operational expenditure, minor
repairs and maintenance etc.
18. HUMAN HEALTH AND SOCIAL SERVICES

Section Q, Division 86-88 of ISIC Rev. 4.
Gross Output: Consists of government production, which is a non-market service offered without charge or at a price
not economically significant, and private production, offered at the market price.
Government production (non-makret service):
Gross output Basic = Intermediate consumption (Less commodity sales and fees)+Compensation of
Private production (market service):
Gross output Basic = Total output-Intermediate consumption+ other taxes less subsidies on production.
Intermediate consumption: Details of the cost structure of operators including transportation fees, operational
expenditure, minor repairs and maintenance etc.
19. OTHER SERVICE ACTIVITIES

Section S Division 94 to 96 of ISIC Rev.4.
Gross Output: Income generated from the various services rendered.
87
APPENDIX
Table One: Gross Domestic Product At Current Basic Prices (=N=Million)

2020 2021
Q1 Q2 Q3 Q4 Total Q1
ACTIVITY SECTOR
AGRICULTURE 8,569,327.77
1. Crop Production 6,410,647.17 7,198,345.63 10,192,217.02 9,376,328.33 33,177,538.15 7,218,298.07
2. Livestock 509,547.73 503,341.58 509,946.41 598,535.01 2,121,370.73 613,715.30
3. Forestry 64,114.31 75,495.31 69,162.83 76,017.37 284,789.82 73,327.72
4. Fishing 458,368.20 362,339.21 334,665.48 502,537.55 1,657,910.45 663,986.70
MINING AND QUARRYING 2,837,377.54
5. Crude Petroleum and Natural Gas 2,827,160.42 2,519,995.03 2,782,376.36 2,066,094.13 10,195,625.94 2,822,468.96
6. Coal Mining 3,308.76 4,892.45 1,092.35 2,186.79 11,480.34 3,775.75
7. Metal Ores 5,212.48 2,595.16 2,189.70 1,561.31 11,558.65 7,612.96
8. Quarrying and Other Minerals 5,354.01 114,173.03 202,938.59 310,635.90 633,101.53 3,519.87
MANUFACTURING 6,110,645.25
9. Oil Refining 10,666.52 14,223.60 12,579.79 20,389.13 57,859.04 5,022.41
10. Cement 756,701.75 593,115.76 1,039,654.07 1,053,779.18 3,443,250.76 1,289,276.14
11. Food, Beverage and Tobacco 1,733,815.12 1,620,825.45 1,897,039.77 1,988,746.62 7,240,426.96 2,068,892.37
12. Textile, Apparel and Footwear 1,096,255.69 888,358.01 1,028,014.23 1,294,326.42 4,306,954.36 1,322,158.67
13. Wood and Wood Products 114,783.13 94,829.42 115,004.59 118,967.84 443,584.98 127,046.79
14. Pulp, Paper and Paper Products 62,061.07 47,347.60 64,388.49 81,403.16 255,200.33 91,340.25
15. Chemical and Pharmaceutical Products 97,084.66 109,245.23 164,504.65 124,427.28 495,261.82 126,199.01
16. Non-Metallic Products 272,205.10 225,903.78 297,466.77 326,544.57 1,122,120.22 406,280.71
17. Plastic and Rubber products 134,478.43 120,114.36 193,432.87 157,721.13 605,746.79 162,118.06
18. Electrical and Electronics 2,716.80 2,807.43 4,154.74 4,180.82 13,859.79 3,421.78
19. Basic metal , Iron and Steel 89,804.62 81,288.90 139,526.97 110,508.96 421,129.45 103,915.58
20. Motor vehicles & assembly 111,598.99 104,110.98 119,781.37 154,172.48 489,663.81 234,061.75
21. Other Manufacturing 143,673.26 108,175.03 223,127.46 169,516.19 644,491.95 170,911.73
22. ELECTRICITY, GAS ,STEAM AND AIR CONDITIONING SUPPLY 134,797.54 313,589.49 270,399.61 426,848.42 1,145,635.06 176,179.17
23. WATER SUPPLY,SEWERAGE, WASTE MANAGEMENT AND REMEDIATION 78,033.48 114,005.85 86,412.01 75,899.12 354,350.47 110,274.09
24. CONSTRUCTION 2,829,463.49 2,323,182.01 2,828,014.71 3,658,821.70 11,639,481.91 4,071,042.43
25. TRADE 5,377,999.54 4,563,929.92 5,007,436.62 6,157,017.75 21,106,383.82 5,385,012.11
26. ACCOMMODATION AND FOOD SERVICES 429,653.11 162,508.35 324,075.78 424,695.67 1,340,932.91 478,592.75
TRANSPORTATION AND STORAGE 865,745.51
27. Road Transport 879,851.58 338,318.17 423,857.95 726,850.30 2,368,878.00 788,038.48
28. Rail Transport & Pipelines 38.33 40.94 41.09 120.70 241.06 36.17
29. Water Transport 1,659.75 2,094.94 2,725.44 2,119.56 8,599.70 1,581.32
30. Air Transport 51,346.57 21,266.68 41,827.76 36,606.73 151,047.75 53,837.91
31. Transport Services 12,594.14 19,554.31 27,012.95 30,298.49 89,459.89 12,698.03
32. Post and Courier Services 8,500.75 3,194.14 3,139.83 6,708.63 21,543.36 9,553.61
INFORMATION AND COMMUNICATION 4,053,783.93
33. Telecommunications & Information Services 2,744,728.83 3,803,603.69 3,034,875.18 3,714,710.52 13,297,918.22 3,005,814.62
34. Publishing, 9,684.94 7,981.84 7,732.82 8,782.97 34,182.57 9,673.51
34. Motion Pictures, Sound recording and Music production 379,048.82 278,224.98 286,991.30 326,726.99 1,270,992.10 389,995.53
36. Broadcasting 542,547.89 693,529.50 411,831.52 557,635.36 2,205,544.26 559,521.08
37.ARTS, ENTERTAINMENT AND RECREATION 89,201.32 61,392.56 57,616.68 67,415.34 275,625.90 88,779.18
FINANCIAL AND INSURANCE 1,300,800.22
38. Financial Institutions 1,108,100.63 1,149,417.86 855,950.71 1,116,698.77 4,230,167.97 1,138,899.88
39. Insurance 165,332.58 130,283.32 106,958.93 105,083.65 507,658.48 161,900.34
40. REAL ESTATE 1,863,236.07 1,840,109.04 2,188,247.84 2,786,541.16 8,678,134.12 2,013,073.29
41. PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES 1,143,132.56 1,024,069.12 1,198,105.13 1,368,527.89 4,733,834.69 1,128,109.11
42. ADMINISTRATIVE & SUPPORT SERVICES 6,575.21 6,657.56 7,973.34 7,690.25 28,896.36 6,695.41
43. PUBLIC ADMINISTRATION 560,764.03 752,976.11 770,803.65 887,042.45 2,971,586.24 570,388.51
44. EDUCATION 700,852.55 464,986.90 642,714.94 898,884.49 2,707,438.88 698,772.61
45. HUMAN HEALTH AND SOCIAL SERVICES 218,227.97 238,340.38 240,622.13 254,152.12 951,342.60 241,879.49
46. OTHER SERVICES 1,402,476.20 918,417.00 870,828.16 1,379,547.05 4,571,268.41 1,396,783.55
GDP Current Basic Price 35,647,406.08 34,023,197.60 39,089,460.61 43,564,006.29 152,324,070.59 40,014,482.74
Net Indirect Taxes on Products 322,495.09 313,700.00 625,260.80 666,792.41 1,928,248.31 493,202.83
GDP Current Market Price 35,969,901.18 34,336,897.61 39,714,721.41 44,230,798.70 154,252,318.90 40,507,685.57
88
APPENDIX
Table Two: Gross Domestic Product At 2010 Constant Basic Prices (=N=Million)
2020 2021
ACTIVITY SECTOR
AGRICULTURE 3,760,880.60
1. Crop Production 3,219,506.13 3,493,035.24 5,063,608.76 4,768,370.43 16,544,520.56 3,293,952.24
2. Livestock 296,837.60 289,964.07 297,891.75 348,421.39 1,233,114.81 301,748.19
3. Forestry 42,989.85 50,093.58 46,125.19 51,299.44 190,508.05 43,538.16
4. Fishing 117,819.91 85,575.52 76,438.23 100,198.85 380,032.51 121,642.02
MINING AND QUARRYING 1,562,061.67
5. Crude Petroleum and Natural Gas 1,591,248.22 1,419,038.39 1,555,771.57 1,147,137.70 5,713,195.88 1,556,073.55
6. Coal Mining 1,833.62 2,627.52 568.54 1,103.02 6,132.69 1,845.67
7. Metal Ores 2,888.61 1,393.75 1,139.68 787.52 6,209.56 3,721.38
8. Quarrying and Other Minerals 1,047.04 19,746.31 31,040.26 42,019.49 93,853.10 421.08
MANUFACTURING 1,670,393.69
9. Oil Refining 6,925.07 9,163.54 8,042.28 12,934.71 37,065.61 2,974.47
10. Cement 154,954.73 131,915.27 173,421.72 157,342.02 617,633.75 172,314.38
11. Food, Beverage and Tobacco 744,747.87 689,546.18 781,014.70 792,351.51 3,007,660.27 797,686.05
12. Textile, Apparel and Footwear 363,212.15 286,582.34 312,241.04 370,177.95 1,332,213.48 346,758.93
13. Wood and Wood Products 53,883.58 43,143.09 48,566.22 50,836.67 196,429.57 52,613.96
14. Pulp, Paper and Paper Products 13,612.35 9,422.51 12,531.07 13,335.79 48,901.72 13,576.70
15. Chemical and Pharmaceutical Products 37,288.82 39,675.28 42,051.18 40,402.87 159,418.15 38,747.36
16. Non-Metallic Products 59,622.11 46,191.25 54,093.47 54,106.14 214,012.97 61,337.76
17. Plastic and Rubber products 58,921.01 50,434.79 52,633.11 60,822.01 222,810.92 59,912.86
18. Electrical and Electronics 923.54 890.63 1,063.23 1,155.15 4,032.55 882.31
19. Basic metal , Iron and Steel 41,198.66 35,808.61 38,079.12 44,884.59 159,970.97 40,527.73
20. Motor vehicles & assembly 8,784.10 7,907.70 6,616.43 7,134.11 30,442.33 9,073.23
21. Other Manufacturing 71,316.59 51,890.19 61,855.48 75,937.57 260,999.84 73,987.96
22. ELECTRICITY, GAS ,STEAM AND AIR CONDITIONING SUPPLY 33,907.85 75,322.52 64,533.72 93,481.82 267,245.91 36,842.84
23. WATER SUPPLY,SEWERAGE, WASTE MANAGEMENT AND REMEDIATION 30,063.46 41,694.10 29,999.29 25,012.85 126,769.71 34,497.63
24. CONSTRUCTION 682,791.74 513,692.43 572,977.23 679,254.80 2,448,716.21 692,520.88
25. TRADE 2,692,253.73 2,269,985.07 2,474,504.80 3,022,957.58 10,459,701.18 2,626,861.27
26. ACCOMMODATION AND FOOD SERVICES 178,331.47 64,886.95 124,480.10 156,928.87 524,627.40 170,122.91
TRANSPORTATION AND STORAGE 231,805.43
27. Road Transport 264,443.50 97,673.68 117,544.23 225,452.25 705,113.66 201,644.26
29. Water Transport 797.43 1,001.99 1,297.71 1,004.69 4,101.82 746.20
30. Air Transport 19,003.68 7,538.24 14,199.68 11,901.97 52,643.58 16,764.47
31. Transport Services 6,593.02 10,202.95 14,048.28 15,705.06 46,549.31 6,560.28
32. Post and Courier Services 5,921.92 2,217.16 2,171.63 4,623.29 14,934.01 6,071.97
INFORMATION AND COMMUNICATION 2,559,326.05
33. Telecommunications & Information Services 1,821,239.59 2,272,972.78 1,996,930.50 2,434,021.06 8,525,163.93 1,961,276.33
34. Publishing, 5,353.19 4,397.04 4,245.58 4,805.98 18,801.80 5,275.54
34. Motion Pictures, Sound recording and Music production 217,835.62 159,629.62 164,387.84 186,839.88 728,692.96 222,652.62
36. Broadcasting 311,796.92 397,907.65 235,895.99 318,885.58 1,264,486.13 319,436.58
37.ARTS, ENTERTAINMENT AND RECREATION 51,263.12 35,223.55 33,002.68 38,551.68 158,041.02 50,684.99
FINANCIAL AND INSURANCE 634,543.00
38. Financial Institutions 554,720.77 571,691.82 422,981.72 548,274.04 2,097,668.35 555,566.44
39. Insurance 82,766.32 64,799.68 52,855.46 51,593.71 252,015.18 78,976.56
40. REAL ESTATE 872,533.43 848,905.93 994,521.86 1,247,627.96 3,963,589.18 887,934.72
41. PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES 572,257.93 509,346.47 592,062.79 671,916.49 2,345,583.68 550,302.59
42. ADMINISTRATIVE & SUPPORT SERVICES 3,291.58 3,311.31 3,940.15 3,775.74 14,318.78 3,266.09
43. PUBLIC ADMINISTRATION 280,721.30 374,511.56 380,904.94 435,517.94 1,471,655.75 278,241.06
44. EDUCATION 348,558.96 227,752.16 310,036.17 427,041.45 1,313,388.73 326,944.62
45. HUMAN HEALTH AND SOCIAL SERVICES 113,695.47 122,402.84 121,812.13 126,826.45 484,736.89 118,980.63
46. OTHER SERVICES 702,086.67 456,797.74 430,333.65 677,326.65 2,266,544.71 681,364.60
GDP at 2010 constant price 16,741,809.92 15,897,931.94 17,824,482.08 19,550,147.90 70,014,371.85 16,826,890.29
Net Indirect Taxes on Products 151,459.87 146,581.79 285,113.94 203,016.05 786,171.64 135,615.64
GDP Constant Market Price 16,893,269.79 16,044,513.73 18,109,596.02 19,753,163.95 70,800,543.49 16,962,505.92
REAL GROWTH RATE AT BASIC PRICE 1.87 -6.10 -3.62 0.11 -1.92 0.51
89
APPENDIX
Table Three: GDP Growth Rate at Current prices (Nominal GDP Growth) %
ACTIVITY SECTOR
Q1 2020 Q2 2020 Q3 2020 Q4 2020 Full Year 2020 Q1 2021
AGRICULTURE 22.47 19.90 13.52 14.03 16.73 15.14
1. Crop Production 23.89 21.03 13.71 14.18 17.25 12.60
2. Livestock -1.05 0.53 2.52 0.44 0.59 20.44
3. Forestry -2.83 -3.04 3.89 0.73 -0.38 14.37
4. Fishing 42.40 37.98 30.55 35.26 36.75 44.86
MINING AND QUARRYING -10.57 -16.02 -19.92 -12.32 -15.02 -0.13
5. Crude Petroleum and Natural Gas -10.20 -17.64 -23.23 -19.55 -17.78 -0.17
6. Coal Mining -35.84 18.75 -2.49 -12.89 -11.06 14.11
7. Metal Ores 8.72 -0.10 -1.87 2.73 3.73 46.05
8. Quarrying and Other Minerals -70.95 44.02 94.37 117.48 83.54 -34.26
MANUFACTURING 28.47 -0.14 13.54 24.60 16.44 32.10
9. Oil Refining -51.33 -66.65 -67.55 -55.14 -61.11 -52.91
10. Cement 61.00 23.29 59.43 65.11 53.62 70.38
11. Food, Beverage and Tobacco 17.97 7.14 13.30 15.25 13.44 19.33
12. Textile, Apparel and Footwear 27.63 -0.60 -2.41 16.00 9.82 20.61
13. Wood and Wood Products 14.78 -10.75 -3.17 9.76 2.34 10.68
14. Pulp, Paper and Paper Products 50.50 -2.21 9.55 40.89 23.76 47.18
15. Chemical and Pharmaceutical Products 25.82 -18.78 10.76 24.12 7.56 29.99
16. Non-Metallic Products 43.13 2.49 11.51 30.68 21.02 49.26
17. Plastic and Rubber products 20.07 -38.96 -6.40 18.84 -6.55 20.55
18. Electrical and Electronics 29.73 -36.51 -19.66 15.83 -9.39 25.95
19. Basic metal , Iron and Steel 19.03 -39.15 -4.33 13.01 -6.97 15.71
20. Motor vehicles & assembly 105.16 218.51 173.70 126.29 146.09 109.73
21. Other Manufacturing 12.62 -48.08 -12.02 9.78 -13.37 18.96
22. ELECTRICITY, GAS ,STEAM AND AIR CONDITIONING SUPPLY 17.51 8.64 -0.01 17.27 10.39 30.70
23. WATER SUPPLY,SEWERAGE, WASTE MANAGEMENT AND REMEDIATION 22.93 18.81 15.79 25.51 20.31 41.32
24. CONSTRUCTION 44.26 -3.20 35.50 43.58 29.37 43.88
25. WHOLESALE and RETAIL TRADE -0.27 -14.95 -9.82 -0.66 -6.23 0.13
26. ACCOMMODATION AND FOOD SERVICES 13.27 -30.16 -9.64 -0.79 -4.13 11.39
TRANSPORTATION AND STORAGE 20.44 -41.63 -35.06 -3.76 -13.52 -9.25
27. Road Transport 20.78 -42.88 -37.32 -0.50 -13.15 -10.44
28. Rail Transport & Pipelines 3.94 -63.54 -45.47 -10.39 -32.89 -5.62
29. Water Transport 1.89 -27.45 -15.87 -10.53 -15.06 -4.73
30. Air Transport 25.61 -41.62 -27.33 -42.58 -23.95 4.85
31. Transport Services -0.07 -13.36 -2.17 -1.44 -4.35 0.82
32. Post and Courier Services 0.43 -26.97 2.52 3.12 -3.85 12.39
INFORMATION AND COMMUNICATION 8.94 -1.15 15.91 16.32 9.13 10.28
33. Telecommunications 11.57 0.55 19.35 19.63 11.83 9.51
34. Publishing, 1.46 -24.58 -4.49 -1.27 -7.92 -0.12
34. Motion Pictures, Sound recording and Music production 0.99 -15.25 2.29 3.19 -2.29 2.89
36. Broadcasting 2.48 -3.36 3.92 5.11 1.45 3.13
37.ARTS, ENTERTAINMENT AND RECREATION 2.20 -19.10 -4.04 -0.87 -5.35 -0.47
FINANCIAL AND INSURANCE 23.96 20.82 5.91 -1.10 11.98 2.15
38. Financial Institutions 27.26 30.94 9.60 0.07 16.04 2.78
39. Insurance 5.64 -28.15 -16.54 -12.05 -13.29 -2.08
40. REAL ESTATE 1.12 -17.18 -8.06 9.15 -3.55 8.04
41. PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES 2.23 -13.75 -7.96 -2.95 -5.65 -1.31
42. ADMINISTRATIVE & SUPPORT SERVICES 0.67 -0.47 1.38 -2.83 -0.35 1.83
43. PUBLIC ADMINISTRATION -6.33 4.02 6.29 4.47 2.58 1.72
44. EDUCATION 7.03 -22.09 -15.75 -5.86 -8.82 -0.30
45. HUMAN HEALTH AND SOCIAL SERVICES 7.03 -0.07 8.90 9.14 6.15 10.84
46. OTHER SERVICES 3.71 -13.40 -5.11 -1.76 -3.46 -0.41
GDP Current Basic Price 12.01 -2.80 3.39 10.07 5.63 12.25
Net Indirect Taxes on Products 23.20 4.89 50.51 47.39 34.97 52.93
GDP Current Market Price 12.10 -2.73 3.90 10.49 5.91 12.62
90
APPENDIX
Table Four: GDP Growth Rate at Constant 2010 prices (Real GDP Growth)%
Q1 2020 Q2 2020 Q3 2020 Q4 2020 Full Year 2020 Q1 2021
AGRICULTURE 2.20 1.58 1.39 3.42 2.17 2.28
1. Crop Production 2.38 1.44 1.38 3.68 2.24 2.31
2. Livestock 0.63 2.26 2.29 2.38 1.91 1.65
3. Forestry 1.71 1.08 2.55 1.24 1.62 1.28
4. Fishing 1.49 5.68 -2.07 -3.60 0.26 3.24
MINING AND QUARRYING 4.58 -6.60 -13.22 -18.44 -8.54 -2.19
5. Crude Petroleum and Natural Gas 5.06 -6.63 -13.89 -19.76 -8.89 -2.21
6. Coal Mining -43.41 10.53 -13.99 -23.16 -20.50 0.66
7. Metal Ores -4.10 -7.01 -6.22 -9.38 -5.85 28.83
8. Quarrying and Other Minerals -83.03 -6.39 41.81 48.42 21.16 -59.78
MANUFACTURING 0.43 -8.78 -1.51 -1.51 -2.75 3.40
9. Oil Refining -52.81 -67.66 -68.29 -56.50 -62.22 -57.05
10. Cement 1.67 -5.54 11.96 6.59 3.88 11.20
11. Food, Beverage and Tobacco 1.10 -3.01 5.57 2.15 1.50 7.11
12. Textile, Apparel and Footwear 1.03 -14.43 -12.12 -5.55 -7.59 -4.53
13. Wood and Wood Products 1.25 -10.71 -5.12 -3.17 -4.29 -2.36
14. Pulp, Paper and Paper Products 1.99 -28.16 -7.15 -4.52 -9.32 -0.26
15. Chemical and Pharmaceutical Products 0.58 3.79 6.60 -0.78 2.54 3.91
16. Non-Metallic Products -1.35 -22.78 -12.23 -9.92 -11.55 2.88
17. Plastic and Rubber products 1.28 -10.76 -6.96 0.23 -3.94 1.68
18. Electrical and Electronics -1.59 -28.41 -20.12 -12.14 -16.48 -4.46
19. Basic metal , Iron and Steel 1.19 -7.03 -5.35 -3.92 -3.73 -1.63
21. Other Manufacturing -1.78 -14.31 -13.03 -4.26 -7.97 3.75
22. ELECTRICITY, GAS ,STEAM AND AIR CONDITIONING SUPPLY -2.31 -3.00 -3.66 -2.51 -2.90 8.66
23. WATER SUPPLY,SEWERAGE, WASTE MANAGEMENT AND REMEDIATION -0.18 5.71 7.10 1.92 3.81 14.75
24. CONSTRUCTION 1.69 -31.77 2.84 1.21 -7.68 1.42
25. TRADE -2.82 -16.59 -12.12 -3.20 -8.49 -2.43
26. ACCOMMODATION AND FOOD SERVICES -2.99 -40.19 -22.61 -15.03 -17.75 -4.60
TRANSPORTATION AND STORAGE 2.82 -49.23 -42.98 -5.95 -22.26 -21.89
27. Road Transport 2.83 -51.37 -46.64 -1.37 -22.25 -23.75
28. Rail Transport & Pipelines 2.09 -63.32 -46.45 -11.99 -33.64 -7.30
29. Water Transport 0.08 -28.33 -17.37 -12.12 -16.44 -6.42
30. Air Transport 5.68 -57.38 -38.86 -51.69 -36.98 -11.78
31. Transport Services -1.38 -11.15 -3.45 -2.73 -4.74 -0.50
32. Post and Courier Services -1.01 -0.43 1.06 1.65 0.19 2.53
INFORMATION AND COMMUNICATION 9.99 16.52 16.13 14.70 12.90 6.31
33. Telecommunications 9.71 18.10 17.36 17.64 15.90 7.69
34. Publishing, 0.10 -18.35 -5.77 -2.59 -6.79 -1.45
35. Motion Pictures, Sound recording and Music production 0.33 -4.60 1.61 2.51 0.03 2.21
36. Broadcasting 1.81 8.78 3.23 4.42 4.85 2.45
37.ARTS, ENTERTAINMENT AND RECREATION 1.53 -8.93 -4.67 -1.52 -3.00 -1.13
FINANCIAL AND INSURANCE 20.79 18.49 3.21 -3.63 9.37 -0.46
38. Financial Institutions 24.00 28.41 6.80 -2.48 13.34 0.15
39. Insurance 2.94 -29.53 -18.67 -14.30 -15.30 -4.58
40. REAL ESTATE -4.75 -21.99 -13.40 2.81 -9.22 1.77
41. PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES -0.39 -15.41 -10.31 -5.43 -7.92 -3.84
42. ADMINISTRATIVE & SUPPORT SERVICES -1.90 -2.39 -1.21 -5.31 -2.75 -0.77
43. PUBLIC ADMINISTRATION -8.72 2.02 3.58 1.80 0.10 -0.88
44. EDUCATION 0.69 -24.12 -20.74 -11.43 -13.57 -6.20
45. HUMAN HEALTH AND SOCIAL SERVICES 1.06 1.89 2.82 3.05 2.23 4.65
46. OTHER SERVICES 1.06 -15.07 -7.53 -4.27 -5.78 -2.95
GDP at 2010 constant price 1.87 -6.10 -3.62 0.11 -1.92 0.51
91
APPENDIX
Table Five: Implicit Price Deflators

2020 2021
ACTIVITY SECTOR
AGRICULTURE
1. Crop Production 199.12 206.08 201.28 196.64 200.53 219.14
2. Livestock 171.66 173.59 171.19 171.78 172.03 203.39
3. Forestry 149.14 150.71 149.95 148.18 149.49 168.42
4. Fishing 389.04 423.41 437.82 501.54 436.25 545.85
MINING AND QUARRYING
5. Crude Petroleum and Natural Gas 177.67 177.58 178.84 180.11 178.46 181.38
6. Coal Mining 180.45 186.20 192.13 198.26 187.20 204.57
7. Metal Ores 180.45 186.20 192.13 198.26 186.14 204.57
8. Quarrying and Other Minerals 511.35 578.20 653.79 739.27 674.57 835.92
MANUFACTURING
9. Oil Refining 154.03 165.22 156.42 157.63 156.10 168.85
10. Cement 488.34 449.62 599.49 669.74 557.49 748.21
12. Textile, Apparel and Footwear 301.82 309.98 329.24 349.65 323.29 381.29
13. Wood and Wood Products 213.02 249.80 236.80 234.02 225.82 241.47
14. Pulp, Paper and Paper Products 455.92 502.49 513.83 610.41 521.86 672.77
15. Chemical and Pharmaceutical Products 260.36 375.35 391.20 307.97 310.67 325.70
17. Plastic and Rubber products 228.24 248.16 367.51 259.32 271.87 270.59
18. Electrical and Electronics 294.17 315.22 390.77 361.93 343.70 387.82
19. Basic metal , Iron and Steel 217.98 247.01 366.41 246.21 263.25 256.41
20. Motor vehicles & assembly 1270.47 1,316.58 1,810.36 2,161.06 1,608.50 2579.70
21. Other Manufacturing 201.46 258.47 360.72 223.23 246.93 231.00
22. ELECTRICITY, GAS ,STEAM AND AIR CONDITIONING SUPPLY 397.54 416.33 419.01 456.61 428.68 478.19
24. CONSTRUCTION 414.40 452.25 493.56 538.65 475.33 587.86
25. TRADE 199.76 201.06 202.36 203.68 201.79 205.00
26. ACCOMMODATION AND FOOD SERVICES 240.93 250.45 260.34 270.63 255.60 281.32
27. Road Transport 332.72 346.38 360.59 322.40 335.96 390.81
29. Water Transport 208.14 209.08 210.02 210.97 209.66 211.92
30. Air Transport 270.19 282.12 294.57 307.57 286.93 321.14
31. Transport Services 191.02 191.65 192.29 192.92 192.18 193.56
32. Post and Courier Services 143.55 144.06 144.58 145.10 144.26 157.34
33. Telecommunications & Information Services 150.71 167.34 151.98 152.62 155.98 153.26
34. Publishing, 180.92 181.53 182.14 182.75 181.80 183.37
34. Motion Pictures, Sound recording and Music production 174.01 174.29 174.58 174.87 174.42 175.16
36. Broadcasting 174.01 174.29 174.58 174.87 174.42 175.16
37.ARTS, ENTERTAINMENT AND RECREATION 174.01 174.29 174.58 174.87 174.40 175.16
39. Insurance 199.76 201.06 202.36 203.68 201.44 205.00
40. REAL ESTATE 213.54 216.76 220.03 223.35 218.95 226.71
41. PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES 199.76 201.06 202.36 203.68 201.82 205.00
42. ADMINISTRATIVE & SUPPORT SERVICES 199.76 201.06 202.36 203.68 201.81 205.00
43. PUBLIC ADMINISTRATION 199.76 201.06 202.36 203.68 201.92 205.00
44. EDUCATION 201.07 204.16 207.30 210.49 206.14 213.73
46. OTHER SERVICES 199.76 201.06 202.36 203.68 201.68 205.00
GDP Deflator 212.92 214.64 219.30 222.83 217.56 237.80
92
APPENDIX
Table Six: Gross Domestic Product At Current Basic Prices Percentage Distribution
2020 2021
ACTIVITY SECTOR
AGRICULTURE
1. Crop Production 17.98 21.16 26.07 21.52 21.78 18.04
2. Livestock 1.43 1.48 1.30 1.37 1.39 1.53
3. Forestry 0.18 0.22 0.18 0.17 0.19 0.18
4. Fishing 1.29 1.06 0.86 1.15 1.09 1.66
6. Coal Mining 0.01 0.01 0.00 0.01 0.01 0.01
7. Metal Ores 0.01 0.01 0.01 0.00 0.01 0.02
MANUFACTURING
9. Oil Refining 0.03 0.04 0.03 0.05 0.04 0.01
10. Cement 2.12 1.74 2.66 2.42 2.26 3.22
24. CONSTRUCTION 7.94 6.83 7.23 8.40 7.64 10.17
25. TRADE 15.09 13.41 12.81 14.13 13.86 13.46
27. Road Transport 2.47 0.99 1.08 1.67 1.56 1.97
29. Water Transport 0.00 0.01 0.01 0.00 0.01 0.00
30. Air Transport 0.14 0.06 0.11 0.08 0.10 0.13
34. Publishing, 0.03 0.02 0.02 0.02 0.02 0.02
36. Broadcasting 1.52 2.04 1.05 1.28 1.45 1.40
39. Insurance 0.46 0.38 0.27 0.24 0.33 0.40
40. REAL ESTATE 5.23 5.41 5.60 6.40 5.70 5.03
44. EDUCATION 1.97 1.37 1.64 2.06 1.78 1.75
46. OTHER SERVICES 3.93 2.70 2.23 3.17 3.00 3.49
GDP at current basic price 100.00 100.00 100.00 100.00 100.00 100.00
Central Business District

PMB 127, Garki,
Abuja, NIGERIA
www.nigerianstat.gov.ng
Issue 29: Quarter One, 2021
93
APPENDIX
Table Seven: Gross Domestic Product At 2010 Basic Prices Percentage Distribution
2020 2021
ACTIVITY SECTOR
AGRICULTURE
1. Crop Production 19.23 21.97 28.41 24.39 23.63 19.58
2. Livestock 1.77 1.82 1.67 1.78 1.76 1.79
3. Forestry 0.26 0.32 0.26 0.26 0.27 0.26
4. Fishing 0.70 0.54 0.43 0.51 0.54 0.72
6. Coal Mining 0.01 0.02 0.00 0.01 0.01 0.01
7. Metal Ores 0.02 0.01 0.01 0.00 0.01 0.02
MANUFACTURING
9. Oil Refining 0.04 0.06 0.05 0.07 0.05 0.02
10. Cement 0.93 0.83 0.97 0.80 0.88 1.02
23. WATER SUPPLY,SEWERAGE, WASTE MANAGEMENT AND REMEDIATION0.18 0.26 0.17 0.13 0.18 0.21
24. CONSTRUCTION 4.08 3.23 3.21 3.47 3.50 4.12
25. TRADE 16.08 14.28 13.88 15.46 14.94 15.61
27. Road Transport 1.58 0.61 0.66 1.15 1.01 1.20
29. Water Transport 0.00 0.01 0.01 0.01 0.01 0.00
30. Air Transport 0.11 0.05 0.08 0.06 0.08 0.10
INFORMATION AND COMMUNICATION 0.00
34. Publishing, 0.03 0.03 0.02 0.02 0.03 0.03
36. Broadcasting 1.86 2.50 1.32 1.63 1.81 1.90
39. Insurance 0.49 0.41 0.30 0.26 0.36 0.47
40. REAL ESTATE 5.21 5.34 5.58 6.38 5.66 5.28
44. EDUCATION 2.08 1.43 1.74 2.18 1.88 1.94
46. OTHER SERVICES 4.19 2.87 2.41 3.46 3.24 4.05
GDP at 2010 constant price 100.00 100.00 100.00 100.00 100.00 100.00
Plot 762, Independence Avenue

PMB 127, Garki,
Abuja, NIGERIA
94
Table Eight: Quarterly Contribution to Gross Domestic Product (%), at 2010 Constant Basic Prices
2020 2021
CONTRIBUTION TO GDP
AGRICULTURE 21.96 24.65 30.77 26.95 26.21 22.35

INDUSTRIES 23.65 21.87 21.59 18.77 21.36 23.75
SERVICES 54.39 53.49 47.64 54.28 52.44 53.9
100 100 100 100 100 100
NON OIL 90.5 91.07 91.27 94.13 91.84 90.75

OIL 9.5 8.93 8.73 5.87 8.16 9.25
100 100 100 100 100 100
Table Nine: Quarterly Real Growth Rate by Sector (%) Year-on-Year

2020 2021
GROWTH Q1 Q2 Q3 Q4 Total Q1
AGRICULTURE 2.2 1.58 1.39 3.42 2.17 2.28

INDUSTRIES 2.26 -12.05 -6.12 -7.3 -5.85 0.94
SERVICES 1.57 -6.78 -5.49 1.31 -2.22 -0.39
REAL GROWTH RATE AT BASIC PRICE 1.87 -6.1 -3.62 0.11 -1.92 0.51
REAL GROWTH RATE AT MARKET PRICE 1.95 -6.04 -3.14 0.01 -1.79 0.41
NON-OIL GROWTH RATE 1.55 -6.05 -2.51 1.69 -1.25 0.79
OIL GROWTH RATE 5.06 -6.63 -13.89 -19.76 -8.89 -2.21
Table Ten: Annual Real Contribution & Growth Rate by Sector (%) Year-on-Year
CONTRIBUTION TO GDP 2012 2013 2014 2015 2016 2017 2018 2019 2020
AGRICULTURE 23.91 23.33 22.9 23.11 24.45 25.08 25.13 25.16 26.21
INDUSTRY 25.61 24.81 24.93 23.71 21.96 22.25 22.24 22.25 21.36
SERVICES 50.48 51.86 52.16 53.18 53.59 52.67 52.63 52.6 52.44
100 100 100 100 100 100 100 100 100
GROWTH 2012 2013 2014 2015 2016 2017 2018 2019 2020
AGRICULTURE 6.7 2.94 4.27 3.72 4.11 3.45 2.12 2.36 2.17
INDUSTRY 2.43 2.16 6.76 -2.24 -8.85 2.15 1.87 2.31 -5.85
SERVICES 3.97 8.38 6.85 4.78 -0.82 -0.91 1.83 2.22 -2.22
REAL GROWTH RATE AT BASIC PRICE 4.21 5.49 6.22 2.79 -1.58 0.82 1.91 2.27 -1.92
REAL GROWTH RATE AT MARKET PRICE 4.28 5.39 6.31 2.65 -1.62 0.81 1.92 2.21 -1.79
NON OIL GROWTH RATE 5.81 8.42 7.18 3.75 -0.22 0.47 2 2.06 -1.25
OIL GROWTH RATE -4.95 -13.07 -1.32 -5.45 -14.45 4.69 0.97 4.59 -8.89
Plot 762, Independence Avenue

PMB 127, Garki
Abuja, NIGERIA
ACKNOWLEDGEMENTS/CONTACTS
Acknowledgements
We acknowledge our technical partners, Proshare in the design, concept and production of this publication.
Contact Us
@nigerianstat NBSNigeria www.nigerianstat.gov.ng
Head Office Address +234 803 386 5388 [email protected]

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NATIONAL BUREAU OF STATISTICS

Nigerian Gross Domestic

Report Date: May 2021

Data Source: National Bureau of Statistics (NBS)

Overview of GDP First Quarter 2021 3

Major Economic Sectors: Q1 2021 8

Dr. Yemi Kale,

Figure1: Real GDP Growth

Figure 2: Crude Oil Output (MBPD)

Figure 3: Crude Oil and Non-Oil Growth

NOMINAL GDP REAL GDP

N40.01 trillion N16.83 trillion

Q1 2019 Q2 2019 Q2 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021

YEARLY GDP GROWTH RATE

2012 2013 2014 2015 2016 2017 2018 2019 2020

CONTRIBUTION OF OIL AND CONTRIBUTION OF OIL AND

90.78 91.02 90.23 92.68 90.50 91.07 91.27 94.13 90.75

90.75% NON - OIL

9.22 8.98 9.77 7.32 9.50 8.93 8.73 5.87 9.25

OIL PRODUCTION (MBPD) CONTRIBUTION TO REAL GDP

SHARE OF AGRICULTURE, SHARE OF OIL

Mining & Quarrying

Figure 4: Mining and Quarrying real growth

Mining and Quarrying sector

Quarrying and Other Minerals

Figure 5: Agriculture real growth

Figure 6: Manufacturing real growth

Food, Beverage and Tobacco

Textile, Apparel and Footwear

Textile, Apparel and Footwear under Manufacturing Sector contracted by -4.53% in Q1

Wood and Wood Products

Pulp, Paper and Paper Products

Chemical and Pharmaceutical Products

Chemical and Pharmaceutical Products under Manufacturing Sector grew by 3.91% in Q1

Non-Metallic Products under Manufacturing Sector grew by 2.88% in Q1 2021 from -

Plastic and Rubber Products

Electrical and Electronics

Electrical and Electronics under Manufacturing Sector contracted by -4.46% in Q1 2021

Basic metal , Iron and Steel

Motor Vehicles & Assembly

Figure 7: Elect. Gas and Steam real growth

Electricity, Gas ,Steam And Air Conditioning Supply

Figure 8: Construction real growth

Figure 9: Trade real growth

Wholesale and Retail Trade

Accommodation and Food Services

Figure 10: Real Information & Communication growth

Information and Communication sector

Information and Communication Sector grew by 6.31% in Q1 2021 from 14.70% in Q4

Telecommunications & Information Services under Information and Communication

Publishing under Information and Communication Sector contracted by -1.45% in Q1

Broadcasting under Information and Communication Sector grew by 2.45% in Q1 2021

Transportation and Storage sector

Transportation and Storage Sector Contracted by -21.89% in Q1 2021 from -5.95% In Q4

Road Transport under Transportation and Storage Sector Contracted by -23.75% in Q1

Rail Transport & Pipelines

Water Transport under Transportation and Storage Sector Contracted by -6.42% in Q1

Transport Services under Transportation and Storage Sector Contracted by -0.50% in Q1

Post and Courier Services