Contrary to what the nay-sayers are trumpeting as preparations for the 2019 elections draw nearer, the National Bureau of Statistics (NBS) has released data showing that the economy is on an upward swing.
\nBut the situation on ground remains dire for most Nigerians as price of the basic needs of food and shelter remain high and unaffordable.
\nAccording to the NBS, the economy further consolidated its\u00a0recovery from recession with GDP\u00a0growing by 1.92% in Q4 2016\u00a0compared to 1.40% in Q3 2017 and a contraction of -1.73% in Q4 2016
\nThe NBS interpreted this to mean the economy ended 2017 with a growth of 0.82% compared to a contraction of -1.58% in 2016.
\nIt states further:<\/p>\n
| <\/td>\n | 2016<\/span><\/strong><\/td>\n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | 2017<\/span><\/strong><\/td>\n | \u00a0<\/span><\/strong><\/td>\n | \u00a0<\/span><\/td>\n | \u00a0<\/span><\/td>\n | \u00a0<\/span><\/td>\n<\/tr>\n | SHARE OF GDP %<\/span><\/strong><\/td>\n | Q1<\/span><\/strong><\/td>\n | Q2<\/span><\/strong><\/td>\n | Q3<\/span><\/strong><\/td>\n | Q4<\/span><\/strong><\/td>\n | Total 2016<\/span><\/strong><\/td>\n | Q1<\/span><\/strong><\/td>\n | Q2<\/span><\/strong><\/td>\n | Q3<\/span><\/strong><\/td>\n | Q4<\/span><\/strong><\/td>\n | Year to Date<\/span><\/strong><\/td>\n<\/tr>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | \u00a0<\/span><\/td>\n | \u00a0<\/span><\/strong><\/td>\n | \u00a0<\/span><\/td>\n | \u00a0<\/span><\/td>\n | Q1-Q4<\/span><\/strong><\/td>\n<\/tr>\n | AGRICULTURE<\/span><\/strong><\/td>\n | 20.48<\/span><\/td>\n | 22.55<\/span><\/td>\n | 28.65<\/span><\/strong><\/td>\n | 25.49<\/span><\/td>\n | 24.43<\/span><\/strong><\/td>\n | 21.43<\/span><\/td>\n | 22.93<\/span><\/td>\n | 29.15<\/span><\/td>\n | 26.18<\/span><\/td>\n | 25.08<\/span><\/td>\n<\/tr>\n | INDUSTRIES<\/span><\/strong><\/td>\n | 24.33<\/span><\/td>\n | 22.65<\/span><\/td>\n | 21.11<\/span><\/strong><\/td>\n | 20.33<\/span><\/td>\n | 22.02<\/span><\/strong><\/td>\n | 22.90<\/span><\/td>\n | 23.43<\/span><\/td>\n | 22.56<\/span><\/td>\n | 20.38<\/span><\/td>\n | 22.26<\/span><\/td>\n<\/tr>\n | SERVICES<\/span><\/strong><\/td>\n | 55.20<\/span><\/td>\n | 54.80<\/span><\/td>\n | 50.24<\/span><\/strong><\/td>\n | 54.18<\/span><\/td>\n | 53.55<\/span><\/strong><\/td>\n | 55.67<\/span><\/td>\n | 53.64<\/span><\/td>\n | 48.28<\/span><\/td>\n | 53.45<\/span><\/td>\n | 52.66<\/span><\/td>\n<\/tr>\n | REAL GROWTH RATE %<\/span><\/strong><\/td>\n | Q1<\/span><\/strong><\/td>\n | Q2<\/span><\/strong><\/td>\n | Q3<\/span><\/strong><\/td>\n | Q4<\/span><\/strong><\/td>\n | Total 2016<\/span><\/strong><\/td>\n | Q1<\/span><\/strong><\/td>\n | Q2<\/span><\/strong><\/td>\n | Q3<\/span><\/strong><\/td>\n | Q4<\/span><\/strong><\/td>\n | Year to Date<\/span><\/strong><\/td>\n<\/tr>\n | AGRICULTURE<\/span><\/strong><\/td>\n | 3.09<\/span><\/strong><\/td>\n | 4.53<\/span><\/strong><\/td>\n | 4.54<\/span><\/strong><\/td>\n | 4.03<\/span><\/strong><\/td>\n | 4.11<\/span><\/strong><\/td>\n | 3.39<\/span><\/strong><\/td>\n | 3.01<\/span><\/strong><\/td>\n | 3.06<\/span><\/td>\n | 4.23<\/span><\/td>\n | 3.45<\/span><\/td>\n<\/tr>\n | of which crop production\u2026<\/span><\/em><\/td>\n | 3.02<\/span><\/em><\/td>\n | 4.72<\/span><\/em><\/td>\n | 4.88<\/span><\/em><\/td>\n | 4.36<\/span><\/em><\/td>\n | 4.34<\/span><\/em><\/td>\n | 3.50<\/span><\/td>\n | 3.21<\/span><\/td>\n | 3.19<\/span><\/td>\n | 4.58<\/span><\/td>\n | 3.64<\/span><\/td>\n<\/tr>\n | INDUSTRY<\/span><\/strong><\/td>\n | -6.68<\/span><\/strong><\/td>\n | -7.19<\/span><\/strong><\/td>\n | -12.66<\/span><\/strong><\/td>\n | -8.73<\/span><\/strong><\/td>\n | -8.85<\/span><\/strong><\/td>\n | -5.83<\/span><\/strong><\/td>\n | 2.17<\/span><\/strong><\/td>\n | 8.83<\/span><\/td>\n | 3.92<\/span><\/td>\n | 2.19<\/span><\/td>\n<\/tr>\n | of which Metal ores\u2026<\/span><\/em><\/td>\n | 57.03<\/span><\/em><\/td>\n | 4.22<\/span><\/em><\/td>\n | 6.89<\/span><\/em><\/td>\n | 7.03<\/span><\/em><\/td>\n | 20.74<\/span><\/em><\/td>\n | 40.79<\/span><\/em><\/td>\n | -1.09<\/span><\/em><\/td>\n | 10.70<\/span><\/td>\n | 31.86<\/span><\/td>\n | 21.37<\/span><\/td>\n<\/tr>\n | of which Quarrying and Other Minerals\u2026<\/span><\/em><\/td>\n | -88.87<\/span><\/em><\/td>\n | 2.52<\/span><\/em><\/td>\n | 7.07<\/span><\/em><\/td>\n | 6.13<\/span><\/em><\/td>\n | -17.42<\/span><\/em><\/td>\n | 52.54<\/span><\/em><\/td>\n | 2.24<\/span><\/em><\/td>\n | 1.86<\/span><\/td>\n | -10.94<\/span><\/td>\n | -1.12<\/span><\/td>\n<\/tr>\n | of which Manufacturing\u2026<\/span><\/em><\/td>\n | -7.00<\/span><\/em><\/td>\n | -3.36<\/span><\/em><\/td>\n | -4.38<\/span><\/em><\/td>\n | -2.54<\/span><\/em><\/td>\n | -4.32<\/span><\/em><\/td>\n | 1.36<\/span><\/em><\/td>\n | 0.64<\/span><\/em><\/td>\n | -2.85<\/span><\/td>\n | 0.14<\/span><\/td>\n | -0.21<\/span><\/td>\n<\/tr>\n | SERVICES<\/span><\/strong><\/td>\n | 0.80<\/span><\/strong><\/td>\n | -1.25<\/span><\/strong><\/td>\n | -1.17<\/span><\/strong><\/td>\n | -1.52<\/span><\/strong><\/td>\n | -0.82<\/span><\/strong><\/td>\n | -0.37<\/span><\/strong><\/td>\n | -0.85<\/span><\/strong><\/td>\n | -2.66<\/span><\/td>\n | 0.10<\/span><\/td>\n | -0.91<\/span><\/td>\n<\/tr>\n | of which Construction\u2026..<\/span><\/em><\/td>\n | -5.37<\/span><\/em><\/td>\n | -6.28<\/span><\/em><\/td>\n | -6.13<\/span><\/em><\/td>\n | -6.03<\/span><\/em><\/td>\n | -5.95<\/span><\/em><\/td>\n | 0.15<\/span><\/em><\/td>\n | 0.13<\/span><\/em><\/td>\n | -0.46<\/span><\/td>\n | 4.14<\/span><\/td>\n | 1.00<\/span><\/td>\n<\/tr>\n | of which Trade\u2026..<\/span><\/em><\/td>\n | 2.02<\/span><\/em><\/td>\n | |