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Agriculture Remains High Contributor To Nigeria’s GDP

agriculture-nigeria-gdp

By Modupe Gbadeyanka

The latest data released by the National Bureau of Statistics (NBS) has revealed that the agricultural sector maintained being one of the major contributors to the Nigerian Gross Domestic Product (GDP).

In the report published on Monday by the agency, agriculture as a whole grew by 4.54 percent in the third quarter of 2016 from 4.53 percent it recorded in the second quarter of the same year and 3.46 percent in third quarter of 2015.

From the analysis, it was observed that crop production grew by 4.88 percent in third quarter of 2016 from 4.72 percent in second quarter of 2016 and 3.31 percent in third quarter in 2015.

Also, livestock grew by 0.76 percent in third quarter of 2016 from 6.32 percent in second quarter of 2016 and 5.50 percent in third quarter of 2015.

Likewise, forestry grew by 2.08 percent in third quarter of 2016 from 3.84 percent in second quarter of 2016 and 2.24 percent in third quarter of 2015.

However, fishing recorded a contraction of 0.34 percent in the third quarter from 6.85 percent of second quarter of 2016 and 5.59 percent in the third quarter of 2015.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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