By Ishaya Ibrahim
Acting News Editor
Nigeria’s economic rebound hasn’t rubbed off on many other sectors, nine months after it exited recession.
The fourth quarter report of the Abuja based National Bureau of Statistics (NBS) said the economy expanded by 0.8 per cent, spurred by higher oil revenue and improved crude production.
Other sectors that drove growth in the fourth quarter GDP include crop production which grew by 4.58 per cent, compared to 3.19 per cent in the previous quarter.
Also, crude production, metal ores, construction, transportation, storage, trade, electricity and gas production posted positive numbers.
However, Information and Communication, which comprises telecommunications, publishing, motion pictures, music production declined by –0.55 percent.
Real estate remains also fragile. It remained in the negative zone by shrinking – 3.34 per cent, although it is an improvement from previous quarter decline of –5.24 percent.
Analysts expect positive performances for the sectors in 2018.
This is informed by the International Monetary Fund (IMF) projection of a 2.1 per cent growth for Nigeria’s GDP this year.
If that happens, the sectors currently in the negative territory could benefit from the overall growth.
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