NBS releases 2017 GDP growth rate

Image result for NBS releases 2017 GDP growth rate

The National Bureau of Statistics has released the full year 2017 Gross Domestic Product growth rate for the country with the economy growing by 0.82 per cent in 2017.

This is an improvement over the contraction of -1.58 per cent which the economy recorded in 2016 during the period of recession.

The bureau said the economy further consolidated its recovery from recession with GDP growing by 1.92 per cent in the fourth quarter of 2017, as against 1.4 per cent in the third quarter.

The NBS report said GDP growth in the fourth quarter of 2017 was driven by growth in crop production, crude production and natural gas, metal ores, construction, transportation and storage, trade, electricity and gas production.

The Ondo state Government is determined to provide adequate security in its coastal communities of Ilaje and Ese-odo local government councils.

To this end, the government has procured ten speed boats that will be presented to the Nigerian Army for effective monitoring and surveillance of the riverine communities.

The state Deputy Governor, Agboola Ajayi who disclosed this to TVC news corespondent, Ayodeji Moradeyo in Akure, said the speed boats would assist the military to comb the creeks to ensure safety on the waterways.

Ajayi, who is the Chairman of the state amnesty implementation committee, added that government would no longer allow criminals to hijack its waterways.

leave a reply