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Oil output and economy slows in Q1

The nation’s economy grew 6.17 percent in the first quarter this year, down from 7.68 percent in the fourth quarter last year,the National Bureau of … Continue reading Oil output and economy slows in Q1


Tomato disease, Kaduna

The nation’s economy grew 6.17 percent in the first quarter this year, down from 7.68 percent in the fourth quarter last year,the National Bureau of Statistics (NBS) said on Tuesday.

According to the NBS, the slowed growth is partially due to the removal of government fuel subsidies.

Oil production also fell to an average of 2.35 million barrels per day (bpd) in the first quarter of this year, from 2.4 million bpd in the fourth quarter 2011, NBS said.