The Nigeria Extractive Industries Transparency Initiative has disclosed that the percentage of Nigeria’s 69.54 million labour force working in the country’s oil industry as at 2018 was 0.03 per cent.It explained that only 19,820 employees were engaged by the industry in the year under review, while its contribution to the country’s Gross Domestic Product was 7.8 per cent.
With regards to the size of the industry in terms of Nigeria’s GDP, the report noted that: “The flows in the industry accounted for $32.703 billion in absolute terms. This represents 7.8 per cent of the total GDP . The agency also said in 2018, companies in the oil sector made social contributions worth $902.665 million to support provision of education and other social infrastructure.
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