For the third quarter of 2021, Rail transportation, the GDP numbers presented by the National Bureau of Statistics (NBS). says metal ores, aviation, and financial services sectors led the list of fastest-growing sectors in the country.
The rail transportation sector grew by 59.93% year-on-year in real terms in Q3 2021, representing the fastest growing sector in the review period, closely followed by metal ores, which is a component of the mining and quarrying sector with 54.92% growth rate.
Recall, that Nairametrics reported on Thursday that Nigeria’s GDP for the third quarter of 2021 expanded by 4.03% year-on-year in real terms, consolidating on the 5.01% increase recorded in the previous quarter.
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The growth, which was largely driven by the non-oil sector, having contributed 92.51% to the aggregate GDP for the period, leaving the remaining 7.49% to the oil sector. According to the report, the growth recorded in the non-oil sector was driven by growth in the trade sector, ICT, financial, manufacturing, agriculture, and transportation.
Below were the fastest growing sectors/activities in the review period:
- Rail transport & pipeline – 59.93%
- Metal ores – 54.92%
- Air transport – 33.31%
- Financial Institutions – 25.5%
- Road transport – 21.11%
- Water transport – 16.3%
- Electricity – 14.36%
- Water supply – 12.97%
- Trade – 11.9%
- Telecommunications – 10.87% (Nairametrics)
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