Oil and gas sector GDP growth peak in 2003 Q2-Q3
Real GDP at 1990 Base Year

Real GDP at 1990 Base Year

Oil and gas sector performing poorly, post-2013
Real GDP at 2010 Base Year

Real GDP at 2010 Base Year

Gross Domestic Product Growth Rate: The growth performance of the Oil and Gas sector has been unsteady throughout years and declined most significantly in 2015Q4, following a positive growth recorded in 2015Q3. The poor growth performance could be attributed to the negative exogenous shocks being experienced by most oil exporters.

Contribution to GDP: The sector’s contribution to overall GDP has steadily declined since 2004 reflecting the low level of composite value addition to the Nigerian economy. 

 

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