NIGERIA'S GDP GROWTH RATE

The Gross Domestic Product
(GDP) in Nigeria expanded 6.18
percent in the second quarter
of 2013 over the same quarter
of the previous year. GDP
Growth Rate in Nigeria is
reported by the Central Bank of
Nigeria. From 2005 until 2013,
Nigeria GDP Growth Rate
averaged 6.8 Percent reaching
an all time high of 8.6 Percent
in December of 2010 and a
record low of 4.5 Percent in
March of 2009. Nigeria is one of
the most developed countries
in Africa. Agriculture is the
largest sector of the economy,
accounting for about 42
percent of total GDP. Yet, the
fastest growing segments are
Wholesale and Retail Trade and
Telecommunication and Post.
Together they account for
almost 35 percent of total
output. The third largest sector
is Crude Petroleum and Natural
Gas which constitutes 13.5
percent of total weight, but its
contribution to GDP have been
decreasing over the last two
years. Industry and
Construction account for the
remaining 9.5 percent of the
GDP.