NBS to Publish Q1, 2019 Nigerian GDP Figures on May 20th


Tuesday, May 14, 2019  /  05.35PM  / Ottoabasi Abasiekong for Proshare WebTV           

The National Bureau of Statistics has announced that it will publish Nigeria’s data for Q1, 2019 Gross Domestic Product. 

The release date has been scheduled for Monday May 20th  2019 which also falls on the day the Monetary Policy Committee of the Central Bank of Nigeria, will commence its two-day policy meeting. 

In Q4, 2018 Nigeria’s GDP grew by 2.38% which was a slight leap above Q3 2018’s 1.81% or what amounts to an increase of 57 basis points Q-o-Q. 

This will be the first GDP report published by NBS after the 2019 general elections. Economic analysts have noted that this would be an opportunity to assess sectoral growth across the country. 

For Q4, 2018 average daily oil production stood at 1.91 m barrels per day (mbpd), while the non-oil sector grew by 2.70% in real terms during the period in review. The Non-Oil sector contributed 92.94% in real terms. 

The nominal value of GDP in Q4 2018 was N35.3 trillion naira while real GDP was valued at N19.04trillion


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