Manufacturing GDP contributions rises to N6.616bn

The performance of the oil and gas sector had a lower margin with a sum of N4.677bn

  • Published:
Yemi Kale play

NBS boss, Dr. Yemi Kale

(Information NG)
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According to data received from the National Bureau of Statistics (NBS), contribution of the manufacturing sector to the nation’s Gross Domestic Product rose to N6.616bn in the third quarter of 2015.

Analysis reflected an addition of N2.141bn to the economy in the first quarter; N2.125bn in the second quarter; and N2.35bn in the third quarter.

The performance of the oil and gas sector had a lower margin with a sum of N4.677bn added  to the economy.

The items shown in the data include captured in the data are the oil refinery, cement, food, beverage and tobacco; textile, apparel and footwear; wood and wood products; pulp, paper and paper products; as well as chemical and pharmaceutical products.

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Others include plastic and rubber products; electrical and electronics; basic metal, iron and steel; motor vehicles and assembly among others.

However, the chief earners in the sector include food, beverage and tobacco.

In a note of concern, the Director-General, Nigeria Employers’ Consultative Association, Mr. Olusegun Oshinowo, appealed to the government to pay attention to refining of petroleum products so as to improve manufacturing.

The government is also to embark on business enhancing policies which will surely open the market much further and allow small business to grow.

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