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“Construction Industry Contributed N5.7 Billion to GDP in 3 Years” – NBS Reveals

The National Bureau of Statistics has put Nigeria’s post-re-basing contributions of the construction sector to Gross Domestic Product at N5.7 billion in three years.

NBS, in its summary report of 2010, 2011 and 2012 fiscal years on the Construction industry, disclosed that in 2010, the sector contributed N1.570 billion, a value which leaped by 21.30 per cent to reach N1.905 billion in 2011.

The industry’s contributions closed at N2.188 billion in 2012, bringing the total contribution of the sector to GDP to N5.7 billion.

Construction activities captured in the report include construction of buildings, roads, railways as well as civil engineering projects. Others are construction of utility projects, demolitions as well as site preparations, among others.

The NBS added that part of the increased contributions of the sector to the nation’s GDP, was its ability to capture all economic activities in the sector.

 

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Comments (6)

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