The contribution of Nigeria’s agricultural sector to the Gross Domestic Product in the first quarter of 2020 was the sector’s highest first-quarter contribution in the last two years, data released by theFigures released on Tuesday showed that the sector in the first quarter of 2020 contributed 21.96 per cent to the nation’s GDP, which is the monetary value of all finished goods and services made in the country.
In real terms, Nigeria’s GDP for the first quarter of 2020 stood at N16.7 trillion, meaning agriculture generated about N3.7 trillion.The NBS said in all, the non-oil sector contributed the largest chunk of 90.6 per cent to the economy. Other sectors that make up the non-oil sector as computed by the statistics bureau are industries and services, with services contributing the more than half.
According to the data, crop production remained the major driver of the sector, as it accounted for 90.54 per cent of overall nominal growth of the sector in the first quarter of 2020. Quarter on quarter, growth stood at –19.58 per cent in the first quarter of 2020.
Lol Haters seeing Buhari slowing diversifying Nigeria's economy
More investment into it then
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