FLASH: The Nigerian economy achieved another positive growth in Q2 2022 with a 3.54% growth rate.

Real GDP YoY Growth Rate:
Q1 2022: 3.11%
Q2 2022: 3.54%

Nominal GDP YoY Growth Rate:
Q1 2022: 13.25%
Q2 2022: 15.03%

Telecoms contributes over 200% more to the economy than Oil & Gas.

Q2 2022 Contribution...
Telecoms: 15%
Crude petrol & Gas: 6.33%

The Nigerian oil sector continues to take a back seat in its contribution to the economy....

Contribution in...
Q2 2022: 6.33%
Q1 2022: 6.63%
Q4 2021: 5.19%
Q3 2021: 7.49%

Growth Rate...
Q2 2022: -11.8%
Q1 2022: -26.0%
Q4 2021: -8.06%
Q3 2021: -10.7%

Agriculture remains the No. 1 contributing sector to the Nigerian economy.

It contributed 23.2% in Q2 2022

TOP 7 CONTRIBUTING SECTORS TO THE ECONOMY IN Q2 2022

1 🌿Agriculture: 23.2%
2 💰Trade: 16.8%
3 📡Telecoms: 15.0%
4 ⚙️Manufacturing: 8.65%
5 🛢️Crude oil & Gas: 6.33%
6 🏠Real estate: 5.33%
7 📊Financial & Insurance: 4.25%

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(NBS)