NBS Publishes Additional 11 States Nominal GDP From 2013 to 2017

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Tuesday, May 28, 2019 /  04:50 PM/ NBS

 

GDP of an economy, including at State level, is a measure in monetary terms of production of all goods and services during a period. Like the compilation at the national level, State accounts statistics are based on the guidelines and recommendations set out in the System of National Accounts 2008 (SNA 2008). The System of National Accounts provides an internationally-recognised framework and a comprehensive set of concepts, definitions and classifications for national accounting. Additionally, other relevant guidelines adopted are the International Standard Industrial Classification of all Economic Activities (ISIC) as well as the Central Product Classification (CPC) system.

 

States GDP compilation is important and useful for various purposes. First, it provides important information to support evidence-based policymaking. It also helps to identify key drivers of economic growth in each state and assess the performance of the state economy. Further, by revealing the structure of the state economy, the contribution of each state to the national output can be determined.

 

Methodologically, National/State accounts describe all flows within a period between the economic units constituting the national /state economy and their stocks. As such, the States accounts can follow national accounts as long as one can clearly define and delineate a state, and its resident units in terms of institutional units, production units, consumer units within it. In short, SGDP is the sum of gross value added of all resident producer units (industries) within the economic borders of the state during a given period of time including taxes, less subsidies, on products.

 

The institutional units / sectors in the States include: Non-financial corporations (Flour Mills, Nestle, etc), Financial corporations (Banks, Insurance etc), State governments, Non-profit institutions serving households (NPISH) in the state, and Households. In compilation of SGDP, residence is not based on birth or legal criteria. Instead, an institutional unit is classified as resident if it has a centre of economic interest in the economic territory of a state. Certain activities cut across state boundaries, and thus their economic contribution cannot be assigned to any one state eg telecommunication, Railway line, Transportation, Banking & Insurance. Other activities like Defence, paramilitary, border security force, high sea drilling etc are kept outside the purview of the state GDP. Key data sources included in SGDP compilation include secondary/administrative data, surveys, financial statements, audited State government accounts and VAT returns, among others.

 

In practice, the compilation of Gross Domestic Product (GDP) estimates for sub-national units of the Federation has been a phased exercise at the National Bureau of Statistics since 2013. In the first phase, estimates for eleven (11) States – Akwa Ibom, Bayelsa, Cross River, Delta, Kaduna, Kano, Ogun, Osun, Oyo, Rivers and Zamfara – were published in October 2018, providing estimates for states GDP for the five-year period covering 2013-2017. The completion of this initial phase of the SGDP compilation exercise revealed new insights regarding the structure of sub-national economies, while also demonstrating an improvement in statistical capacity for producing both national and state accounts.

 

This report provides estimates for the second phase of the States GDP compilation exercise covering an additional 11 states -  Anambra, Bauchi, Ebonyi, Edo, Ekiti, Gombe, Jigawa, Kogi, Niger, Ondo - and the Federal Capital Territory (FCT). Thus, the results for all 22 states are provided and analysed in this report. This is expected to inform policymakers at all levels regarding absolute and relative magnitudes of economic activities in the reporting States, even as NBS continues efforts to complete the last phase of compilation for the remaining 15 States.

 

Summary of Findings 

i.  In 2017, the nominal gross domestic product for the 22 states (for which data is currently available) stood at N63.8trillion, or 56% of Nigeria’s nominal gross domestic product in that year.

 

ii. By sector, the 22 states accounted for 57%, 77% and 48% of agriculture, industry and services GDP at the national level respectively. Among the 22 states, however, services sector accounted for 67%, while agriculture accounted for 22% and industry, 11%.

 

iii.  Among the 22 states, FCT had the highest gross domestic product at N10.6 trillion, or 17% of total states GDP. This was followed by Akwa-Ibom and Rivers States, each with 8% of total states GDP.

 

iv.  In the FCT, services accounted for 81% of GDP while industry and agriculture accounted for 18% and 10% respectively. In Akwa-Ibom, however, industry accounted for 65% while services and agriculture accounted for 19% and 16% respectively.

 

v.   Across the 22 states, the non-oil sector represented 98% of total states GDP while the oil sector accounted for only 2%.

 

vi. The 6 states with the highest nominal GDP in 2017 – FCT, Akwa-Ibom, Rivers, Delta, Bayelsa, Anambra – accounted for about 50% of the total states GDP, or 27% of Nigeria’s nominal GDP, in 2017.


 

Click Here to Download 11 States GDP PDF Report – Part 1

Click Here to Download 11 States GDP PDF Report – Part 2


 

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Latest 2019 NBS Reports

 

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