Nigeria’s GDP Grows By 0.51% In Q1 2021 

Nigeria’s GDP grew by 0.51% in Q1 2021.

Gatekeepers News reports that Nigeria’s Gross Domestic Product (GDP) grew by 0.51% in the first quarter of 2021 compared to the 0.11% recorded in the fourth quarter of 2020 and the1.87% in the first quarter of 2020.

National Bureau of Statistics (NBS) made the disclosure in its GDP Report for Q1 2021 released on Sunday.

NBS said oil GDP contracted -2.21% in Q1 2021 (-19.76% in Q4 2020; 5.06% in Q1 2020) while non-Oil GDP grew 0.79% in Q1 2021(1.69% in Q4 2020; 1.55% in Q1 2021).

Below is the Highlight of the report seen by Gatekeepers News;

Agric real GDP grew by 2.28% in Q1 2021 compared to 3.42% in Q4 2020 & 2.20% in Q1 2020.

Crop Production under Agric real GDP grew by 2.31 % compared to 3.68% in Q4 2020 & 2.38% in Q1 2021.

Livestock under Agric real GDP grew by 1.65 % compared to 2.38% in Q4 2020 & 0.63% in Q1 2020.

Fishing under Agric real GDP grew by 3.24 % compared to -3.60% in Q4 2020 & 1.49% in Q1 2020.

Forestry under Agric real GDP grew by 1.28 % compared to 1.24% in Q4 2020 & 1.71% in Q1 2020.

Industry real GDP grew 0.94% compared to -7.30% in Q4 2020 & 2.26% in Q1 2020.

Mining & Quarrying Under Industry real GDP contracted -2.19% compared to -18.44% in Q4 2020 & 4.58% in Q1 2020.

Crude Petroleum & Natural Gas real GDP contracted -2.21% compared to -19.76% in Q4 2020 & 5.06% in Q1 2020.

Coal Mining under Mining & Quarrying GDP grew 0.66% compared to -23.16% in Q4 2020 & -43.41% in Q1 2020.

Metal Ore real GDP grew 28.83% compared to -9.38% in Q4 2020 & -4.10% in Q1 2020.

Quarrying & Other Minerals under Mining & Quarrying GDP contracted -59.78% compared to 48.42% in Q4 2020 & -83.03% in Q1 2020.

Manufacturing under Industry real GDP grew 3.40% compared to -1.51% in Q4 2020 & 0.43% in Q1 2020.

Oil refining under Manufacturing real GDP contracted -57.05% compared to -56.50% in Q4 2020 & -52.81% in Q1 2020.

Cement under Manufacturing real GDP grew 11.20% compared to 6.59% in Q4 2020 & 1.67% in Q1 2020.

Food, Beverage & Tobacco under Manufacturing real GDP grew 7.11% compared to 2.15% in Q4 2020 & 1.10% in Q1 2020.

Textiles,Apparels & Footwear under Manufacturing real GDP contracted -4.53% compared to -5.55% in Q4 2020 & 1.03% in Q1 2020.

Wood Products under real GDP contracted -2.36% compared to -3.17% in Q4 2020 & 1.25% in Q1 2020.

Pulp & Paper under Manufacturing real GDP contracted -0.26% compared to -4.52% in Q4 2020 & 1.99% in Q1 2020.

Chemicals & Pharmaceuticals real GDP grew 3.91% compared to -0.78% in Q4 2020 & 0.58% in Q1 2020.

Non-Metallic Products under Manufacturing real GDP grew 2.88% compared to -9.92% in Q4 2020 & -1.35% in Q1 2020.

Plastic & Rubber under Manufacturing real GDP grew 1.68% compared to 0.23% in Q4 2020 & 1.28% in Q1 2020.

Electrical/Electronics under Manufacturing real GDP contracted -4.46% compared to -12.14% in Q4 2020 & -1.59% in Q1 2020

Base Metal, Iron & Steel real GDP contracted -1.63% compared to -3.92% in Q4 2020 & 1.19% in Q1 2020.

Motor Vehicles & Assembly under Manufacturing real GDP grew 3.29% compared to 2.02% in Q4 2020 & 1.04% in Q1 2020.

Other Manufacturing real GDP grew 3.75% compared to -4.26% in Q4 2020 & -1.78% in Q1 2020.