The National Bureau of Statistics (NBS) has disclosed that Nigeria recorded an average daily oil production of 1.41 million barrels per day (bpd) in Q2 of 2024.
This was contained in the GDP report of the Bureau released on Monday.
According to the bureau, this is 0.16 million bpd lower than the daily average of 1.57 million bpd recorded in Q1 of 2024 and 0.19 mpdp lower than 1.22 million barrels recorded in Q2 2023.
It stated that conversely, the non-oil sector remained at 2.80 per cent in the quarter under review.
“The rate was lower by 0.78% points compared to the rate recorded in the same quarter of 2023 which was 3.58% and relatively same with the 2.80% recorded in the first quarter of 2024,” NBS said.
“This sector was driven in the second quarter of 2024 mainly by Financial and Insurance (Financial Institutions); Information and Communication (Telecommunications); Agriculture (Crop production); Trade; and Manufacturing (Food, Beverage, and Tobacco), accounting for positive GDP growth.”
In real terms, the bureau said the non-oil sector contributed 94.30 percent to the nation’s GDP in the Q2 of 2024 — lower than the 94.66 percent recorded in Q2 of 2023, but higher than 93.62 percent in Q1 of 2024.
