The contribution of crude petroleum and natural gas sector, which is a sub-sector under the mining and quarrying sector, to Nigeria’s Gross Domestic Product dropped from N13.45tn in 2018 to N10.2tn in 2020, signifying a N3.25tn or 24.16 per cent decrease. This is according to data from the National Bureau of Statistics for the years under review obtained and analyzed by our correspondent. Despite being the main contributor to the mining and quarrying sector for the years under review, the contribution of the crude petroleum and natural gas sector decreased in 2019 and 2020. In 2018, the sector was the main contributor to the mining and quarrying sector with a share of 96.39 per cent, while contributing N13.45tn to the GDP. In 2019, the growth experienced in 2018 began to falter, with its contribution to the GDP dropping by N1.05bn per cent to N12.40tn. It, however, remained the major contributor to the mining and quarrying sector with a weight of 97.11 per cent in 2019.
Source: https://punchng.com/oil-gas-gdp-contribution-drops-by-n3-25tn-in-two-years/