Nigerian Gross Domestic Product Report (expenditure .
17 NOV 2014NATIONAL BUREAU OF STATISTICSNigerian Gross Domestic Product Report(expenditure approach)Q1 2014
PREFACEThis publication provides data on Quarterly Gross Domestic Product (GDP) by the EXPENDITURE approach estimates for theFirst Quarter of 2014. It also contains quarterly estimates from 2010-2013Quarterly National Accounts (QNA) are integrated system of macroeconomic accounts designed to describe the entiresystem of production in a nation on a quarterly basis. They provide a picture of the current economic status of the economythat is more timely and frequent than the that provided by Annual National Accounts (ANA). The key attribute of QNA is thatthey provide a reasonable level of details of the economy that help government to assess, analyze, and monitor economicgrowth on a regular basis. QNA adopts the same concepts, definitions and structure as ANA. In principle QNA covers theentire sequence of accounts and balance sheets as reflected in the 2008 System of National Accounts (2008 SNA).The estimates herein are from a wide variety of sources including expenditure surveys, government accounts from the threetiers (Federal States and Local governments), trade statistics from the Nigerian Customs Services, Nigeria’s Balance ofPayments BOP compiled by the Central Bank of Nigeria and business/establishment survey among others.We are grateful to the various agencies and establishments that made their data available as input to the estimates.Dr. Yemi Kale,Statistician General, of the FederationNational Bureau of Statistics,Abuja – Nigeria.November, 2014.
EXECUTIVE SUMMARYThe growth rate of total expenditure on GDP measured in real terms increased by 6.02 percent (year-on-year) in Q1 of 2014while year on year nominal changes indicated an increase of 10.04 percent in the quarter. Final consumption expenditure ofhouseholds accounted for the largest share of expenditure; 67.01 percent of total expenditure on GDP at nominal marketprices, although this was a decline relative to the previous quarter and Q1 of 2013. Final consumption expenditure ofhouseholds recorded a negative nominal growth quarter-on-quarter of 11.00 percent and muted year-on-year growth of 2.98percent. In real terms, Final consumption expenditure of households recorded a negative year-on-year and quarter-onquarter growth rate of 11.23 percent and 24.35 percent respectively.Representing 8.51 percent of the total nominal GDP, General Government final expenditure showed a year-on-year increaseof 18.49 percent. In real terms it also increased, by 9.64 percent relative to Q1 2013, yet shrank by 16.88 percent on a quarteron-quarter basis.Expenditure on the Gross Fixed Capital Formation (Investment) component of GDP saw consistent rises, both relative to thepreceding quarter and to the corresponding quarter of 2013. Driven by investment in transport and machinery equipment,residential and non-residential buildings, other construction activities, land improvement, breeding stock and research anddevelopment. Year on year growth reached 19.99 percent in real terms, and 25.68 in nominal terms relative to Q1 of 2013.Representing 7.74 percent of nominal GDP at market prices, Net Exports of Goods and Services maintained a positivebalance in Q1 of 2014, having increased by 50.07 percent year on year and 66.67 percent from the preceding quarter.Growth also remained positive in real terms, relative to the corresponding period of 2013 and on a quarter on quarter basis.Compensation of Employees (COE) maintained its growth, increasing by 10.68 percent year on year in nominal terms, whilst Inreal terms COE increased 2.63 percent year-on-year in the first Quarter of 2014.National disposable income grew in nominal terms by15.36 percent (year on year) in Q1 2014. During this period, householdconsumption accounted for 70.83 percent of national disposable income and 19.83 percent of income was devoted to savings.In real terms however, household consumption represented 63.29 percent, while savings accounted for 27.87 percent of nationaldisposable income in Q1 of 2014.
Definition of main aggregatesThe concepts and definitions used in this publication are those stated in the United Nations System of National Accounts(SNA) Manual - A System of National Accounts 2008.Taxes on production and imports: Taxes on production and imports comprise all taxes that enterprises incur by engaging inproduction. There are two categories of taxes, namely taxes on products and other taxes on production.Taxes on products are payable on goods and services when they are produced, sold or used. Examples are excise duties,import duties and Value Added Taxes (VAT).Other taxes on production are taxes payable out of the value added of producers. This category of taxes includes taxeslevied on property, fixed assets and labour employed. Examples are municipal rates, motor vehicle licenses andbusiness licenses.GDP at basic prices: GDP at basic prices is obtained as the difference between output and intermediate consumptionwhereby output is valued at basic prices and intermediate consumption at purchasers’ prices.GDP at market prices: GDP at market prices is equal to the GDP at basic prices plus taxes (net of subsidies) on products.Gross National Income (GNI): GDP plus net primary income from the rest of the world gives Gross National Income (GNI).Gross National Disposable Income (GNDI): The sum of Gross National Income (GNI) and net transfers from the rest of theworld gives Gross National Disposable Income (GNDI).Gross Domestic Fixed Capital Formation (GDFCF): Gross Domestic Fixed Capital Formation (GDFCF) consists of the netadditions to the assets of producers of tangible reproducible goods which have an expected lifetime of use of more thanone year. These assets are buildings, plants, machinery and transport equipment, land improvement land and research anddevelopment.
Change in inventories: Change in inventories includes the value of the physical change in inventories of raw materials, workin progress and finished goods held by producers.Final Consumption expenditure: Consumption expenditure is made up of final consumption expenditure of households andof government.Final consumption expenditure of general Government is further disaggregated into collective and individual consumptionexpenditure.Collective consumption expenditure of general government consists of the services which government provides to thecommunity as a whole, for example, security and defence whereasIndividual consumption expenditure of general government is made up of expenses incurred in providing services whichare mostly beneficial to individuals, mainly in respect of health and education.Final consumption expenditure of households comprises the value of goods and servicespurchased by households including the value of imputed rent of owner occupied dwellings.Gross National Saving: Gross National Disposable Income (GNDI) less total final consumption expenditure gives GrossNational Saving.Exports and Imports of goods and services: Both exports and imports are measured on an f.o.b. basis.Compensation of employees: Compensation of employees comprises all payments of wages and salaries by producers totheir employees. Payments in kind and contributions to social security and to private pension fund, casualty insurance andsimilar schemes are also included.Gross operating surplus: Gross operating surplus is defined as the excess of value added over the cost of employees'compensation and other taxes on production and imports net of subsidies.
KEY HIGHLIGHTSGDP BY EXPENDITUREThe Gross Domestic Product (GDP) can be derived as thevalue of all goods and services available for final uses and export.The expenditure approach measures the final uses of the produced output as the sum of final consumption, gross capitalformation and exports less imports.GDP(Y) C G I X- MWhere,C is Household Final Consumption ExpenditureG is Government Final Consumption ExpenditureI is Gross Domestic InvestmentX is exportsM is ImportsThe GDP by expenditure at current market value of goods andservices in Nigeria (nominal) increased by10.04 percent, fromN 20,381.90 billion in the first quarter, 2014 from a level ofN18,522.19 billion in the corresponding quarter in 2013.The expenditure on GDP in real terms stood at N15, 601.05 billion in the first quarter of 2014 compared with N14, 715.33 billion recorded in the corresponding period in 2013.In real terms, the growth in expenditure on GDP measured inmarket prices stood at 6.02 percent in the first quarter of 2014as against 4.32 percent growth recorded in the same periodof 2013, showing a 1.70 percentage point increase in the firstquarter of 2014 when compared with the same period in 2013.FINAL CONSUMPTION EXPENDITURE OF HOUSEHOLDIn nominal terms, final consumption expenditure of households increased by 2.98 percent to reach N13, 658.82 billion in the first quarter2014 from N13, 263.84 billion in the corresponding quarter in 2013. On aquarter on quarter basis however, this was 11 percent less than theN15,346.17 billion expended by households in Q4 2013. The share ofconsumption expenditure to the total nominal GDP at market pricesaccounted for 67.01 percent in Q1 2014 compared to 71.61 percentfor first quarter, 2013 and 70.93 percent for Q4 2013. In real terms, thereal value of final consumption expenditure of Households declined toN9, 478.51 billion in the first quarter 2014 from N10, 677.05 billion in thecorresponding period in 2013 indicating a negative growth of 11.23percent. On a quarter on quarter basis household consumption declined in real terms by 24.35 percent from N12,529.10 billion.Accordingly, the share of real final consumption expenditure in GDPdecreased to 60.76 percent in Q1 2014 compared to 72.56 percent inQ1 2013 and 72.35 percent in Q4 2013.GENERAL GOVERNMENT FINAL CONSUMPTION EXPENDITUREThe general government final consumption expenditure (GFCE) increased by 18.49 percent in nominal terms to reach N1,734.41 billion inthe first quarter of 2014 from N1,463.81recorded in the same period in2013, but 15.02 percent lower than N2,040.94 in Q4 2013. GFCE represented 8.51 percent of total GDP in nominal terms and 8.13 percent inreal terms in Q1 2014. At constant prices, GFCE rose during the periodunder review to N1, 268.00 billion in first quarter of 2014 from N1, 156,52billion in Q1 2013 but lower than N1,525.50 billion in Q4 2014. In realterms, GFCE grew by 9.64 percent in the first quarter of 2014 as againsta negative growth of 8.40 percent recorded in the corresponding period of 2013.
GROSS FIXED CAPITAL FORMATION (INVESTMENT) Net exports of goods and services resulted in a surplus of N1,577.84 billion in the first quarter 2014, higher than N1, 051.44 billion registered in the first quarter, 2013. This represents 7.74 percent of GDP atThe gross fixed capital formation (GFCF) captures investment market prices in the first quarter, 2014 compared to 5.68 percent in theactivities carried out in the economy. Investment in the first same period in 2013. In real terms, the economy recorded a positive netexport of goods and services of N2, 159.34 billion in the first quarter ofquarter of 2014 reached N3, 277.65 billion compared toN2, 607.91billion in the corresponding quarter in 2013, repre- 2014 as against the lower net export of goods and services of N611.02billion in the corresponding period 2013.senting a nominal increase of 25.68 percent.In real terms, GFCF increased to N2, 590.82 billion in the firstquarter of 2014 from a level of N2, 159.27 billion in the samequarter in 2013, accounting for 19.99 percent. The increasewas largely driven by investment in transport and machineryequipment, residential, non-residential buildings, other construction activities, land improvement, breeding stock and research and development.Accordingly GFCF accounted for 16.61 percent of real GDP inQ1 2014 compared to 14.67 percent in Q1 2013 and 14.64 percent in Q4 2013COMPENSATION OF EMPLOYEESCompensation of employees (COE) reached N5, 835.77 billion in the firstquarter of 2014, representing a nominal increase of 10.68 percent overthe N5, 272.74 billion estimated in the same period 2013. In real termsCOE increased 2.63 percent year-on-year in the first Quarter of 2014.NATIONAL DISPOSABLE INCOME AND SAVINGSNational disposable income grew in nominal terms by15.36 percent inQ1 2014 on a year on year basis to N19,390.58 billion from N16,808. 56billion in Q1 2013 but lower on a quarter on quarter basis by negative8.21 percent from N21,124.06 billion. While 70.83% of national disposableExports of goods and services increased to N4, 051.44 billion in income was allocated by households in Q1 2014 tor consumptionthe first quarter, 2014 from N3, 531.62 billion in the correspond- 19.83% of income was devoted to savings in nominal terms.ing quarter 2013.This represents a nominal increase of 14.72percent.In real terms however, household consumption and savings represented63.29% and 27.87% respectively of national disposable income whichImports of goods and services amounted to N 2,473.60 billion stood at N14,975.96 billion in Q1 2014, a 9.73% growth from N13,648. 16in the first quarter of 2014 compared to N 2,480.18 billion in the billion in Q1 2013.same period in 2013, representing a decrease of-0.27 percent.NET EXPORTS OF GOODS AND SERVICES
OPERATING SURPLUSIn Nominal terms, Operating Surplus—the excess value addedover the cost of employees' compensation, depreciation andother taxes on production and imports net of subsidies— wasestimated at N 13,222.65 billion in the first quarter of 2014,representing a 9.86 percent increase from N12,036.25 recorded in the corresponding quarter of 2013, and a decreaseof 8.60 percent from the previous quarter. As a share of totalexpenditure on GDP, Operating surplus represented 64.87 percent, in the first Quarter of 2014, lower from 66.87 percent inthe previous quarter and marginally lower from 64.98 in thecorresponding quarter of 2013.In real terms, developments exhibited the a similar pattern as in nominalterms. Consumption of Fixed Capital increased by 8.19 percent year-on-year, but declined by 1.66 percent quarter on quarter.NET TAXES ON PRODUCTIn nominal terms, a net tax on products was recorded at N 212.13 billionin the first Quarter of 2014. This represented a decline on a year-on-yearand quarter on quarter basis by 6.37 percent and 8.87 percent respectively in the first quarter of 2014.In real terms, Net Taxes on Products was recorded at N162.37 billion inthe first quarter of 2014, representing a decline of 9.75 percent andIn real terms,Operating Surplus was estimated at N 12.82 percent year-on-year and quarter-on-quarter respectively.10,213,24 billion in the first quarter of 2014, representing a 7.52percent year-on-year increase. Relative the previous quarter,Operating Surplus declined by 13.58 percent. In real terms, Asa share of total expenditure on GDP, Operating surplus represented 65.47 percent, in the first Quarter of 2014, lower from66.22 percent in the previous quarter but higher from64.55 in the corresponding quarter of 2013.CONSUMPTION OF FIXED CAPTIALOn a nominal basis, Consumption of Fixed Capital depreciation- increased by 12.66 percent (year-on-year) inthe first quarter of 2014, but was marginally lower by 0.18 percent from levels recorded in the previous quarter.
EXPENDURE ON GROSS DOMESTIC PRODUCT 2010‐Q1, 2014TABLE 1GROSS DOMESTIC PRODUCT AND EXPENDITURE AT CURRENTPURCHASERS' VALUE( N 'MILLION)2013Q1Q2Q3Q4TotalQ1FINAL CONSUMPTION EXPENDITURE OF HOUSEHOLDFINAL CONSUMPTION EXPENDITURE OF NON‐PROFIT INSTITU‐TIONS SERVING .72GROSS FIXED CAPITAL ,890.5111,723,097.473,277,651.33EXPORTS OF GOODS AND 882.3014,615,286.534,051,441.27LESS IMPORTS OF GOODS AND 182.2710,518,777.782,473,600.74EXPENDITURE ON THE GROSS DOMESTIC 34,280.7681,009,964.6220,381,903.54COMPENSATION OF ,820.3022,330,631.435,835,771.88OPERATING 66,958.2453,510,990.8713,222,654.41CONSUMPTION OF FIXED ,714,500.71959,812.85OTHER TAXES ON 6121,634,280.7681,009,964.6220,381,903.54FINAL CONSUMPTION EXPENDITURE OF GENERAL GOVERN‐MENTIndividual Cosumption Expenditure of general govern‐mentCollective Cosumption Expenditure of general govern‐mentCHANGES IN INVENTORIESGROSS DOMESTIC PRODUCT AT BASIC PRICESNET TAXES ON PRODUCTSGROSS DOMESTIC PRODUCT AT MARKET PRICES2014
TABLE 2NATIONAL DISPOSABLE INCOME AND ITS APPROPRIATION20132014Q1Q2Q3Q4TotalQ1COMPENSATION OF ,820.3022,330,631.435,835,771.88OPERATING 66,958.2453,510,990.8713,222,654.41DOMETIC FACTOR 0.39FROM THE REST OF THE WORLD ,995.62846,860.65NATIONAL DISPOSABLE 4,060.9376,210,489.7819,390,581.04GOVERNMENT FINAL CONSUMPTION 40,940.326,548,526.781,734,406.74FINAL CONSUMPTION EXPENDITURE OF HOUSEHOLDFINAL CONSUMPTION EXPENDITURE OF NON‐PROFIT INSTITU‐TIONS SERVING 19,323.253,845,772.26APPROPRIATION OF DISPOSABLE 4,060.9376,210,489.7819,390,581.04CURRENT PURCHASERS' VALUE( N 'MILLION)COMPENSATION OF EMPLOYEESFROM THE REST OF THE WORLD NETPROPERTY AND ENTREPRENEURIAL INCOMEFROM THE REST OF THE WORLD(NET)NET TAXES ON PRODUCTSNATIONAL INCOME AT MARKET PRICESOTHER CURRENT TRANSFERS
TABLE 3CAPITAL FINANCECURRENT PURCHASERS' 00.71959,812.85FROM THE REST OF THE WORLD NET‐‐‐‐‐‐FINANCE OF GROSS 3,823.964,805,585.11( N 'MILLION)SAVINGCONSUMPTION OF FIXED CAPITALCAPITAL TRANSFERSCHANGES IN INVENTORIESGROSS FIXED CAPITAL FORMATIONPURCHASES OF INTANGIBLE ASSETS N.E.C.FROM THE REST OF THE WORLD NETNET LENDING TO THE REST OF THE WORLDGROSS ACCUMULATION
TABLE 0FROM THE REST OF THE 43,798.95860,512.08CURRENT 610.8218,296,804.294,958,241.72IMPORTS OF GOODS AND 10.8218,296,804.294,958,241.72EXTERNAL TRANSACTIONSCURRENT PURCHASERS' VALUE( N 'MILLION)EXPORTS OF GOODS AND SERVICESCOMPENSATION OF EMPLOYEESFROM THE REST OF THE WORLDPROPERTY AND ENTREPRENEURIAL INCOMEFROM THE REST OF THE WORLDOTHER CURRENT TRANSFERSCOMPENSATION OF EMPLOYEESTO THE REST OF THE WORLDPROPERTY AND ENTREPRENEURIAL INCOMETO THE REST OF THE WORLDOTHER CURRENT TRANSFERSTOTHE REST OF THE WORLDSURPLUS OF THE NATION ON CURRENTTRANSACTIONSDISPOSAL OF CURRENT RECEIPTS
TABLE 5GROSS DOMESTIC PRODUCT AND EXPENDITUREAT 2010 PURCHASER'S 48.5248,967.60GROSS FIXED CAPITAL ,525.949,531,791.612,590,816.13EXPORTS OF GOODS AND 620.679,216,349.183,744,761.86LESS IMPORTS OF GOODS AND 179.316,686,655.511,585,417.41EXPENDITURE ON THE GROSS DOMESTIC 18,407.7263,942,845.5615,601,048.05COMPENSATION OF ,142.4317,124,049.414,266,455.09OPERATING ,495.3842,344,736.1110,213,241.91CONSUMPTION OF FIXED 55,500.69818,914.54OTHER TAXES ON 0217,318,407.7263,942,845.5615,601,048.05FINAL CONSUMPTION EXPENDITURE OF HOUSEHOLDFINAL CONSUMPTION EXPENDITURE OF NON‐PROFIT INSTITU‐TIONS SERVING HOUSEHOLDFINAL CONSUMPTION EXPENDITURE OF GENERAL GOVERN‐MENTIndividual Cosumption Expenditure of general govern‐mentCollective Cosumption Expenditure of general govern‐mentCHANGES IN INVENTORIESGROSS DOMESTIC PRODUCT AT BASIC PRICESNET TAXES ON PRODUCTSGROSS DOMESTIC PRODUCT AT MARKET PRICES
TABLE 6NATIONAL DISPOSABLE INCOME AND ITS APPROPRIATIONAT 2010 PURCHASER'S VALUES2013Q1Q2Q3Q4Total2014Q1COMPENSATION OF ,142.4317,124,049.414,266,455.09OPERATING ,495.3842,344,736.1110,213,241.91DOMESTIC FACTOR INCOMECOMPENSATION OF 69,748.42786,624.75NATIONAL DISPOSABLE 2,969.3160,809,336.0614,975,955.26FINAL CONSUMPTION EXPENDITURE OF HOUSEHOLDFINAL CONSUMPTION EXPENDITURE OF NON‐PROFIT INSTITU‐TIONS SERVING HOUSEHOLDFINAL CONSUMPTION EXPENDITURE OF GENERAL GOVERN‐MENTIndividual Cosumption Expenditure of general govern‐mentCollective Cosumption Expenditure of general 04,524.304,174,035.39APPROPRIATION OF DISPOSABLE 2,969.3160,809,336.0614,975,955.26FROM THE REST OF THE WORLD NETPROPERTY AND ENTREPRENEURIAL INCOMEFROM THE REST OF THE WORLD NETNET TAXES ON PRODUCTSNATIONAL INCOME AT MARKET PRICESOTHER CURRENT TRANSFERSFROM THE REST OF THE WORLD NET
TABLE 7CAPITAL FINANCE AT 2010 PURCHASER'S .69818,914.54FROM THE REST OF THE WORLD NET‐‐‐‐‐‐FINANCE OF GROSS ,024.994,992,949.93SAVINGCONSUMPTION OF FIXED CAPITALCAPITAL TRANSFERSCHANGES IN INVENTORIESGROSS FIXED CAPITAL FORMATIONPURCHASE OF INTANGIBLE ASSETS N.E.C.FROM THE REST OF THE WORLD NETNET LENDING TO THE REST OF THE WORLDGROSS ACCUMULATION
TABLE 8EXTERNAL TRANSACTION AT 2010 PURCHASER'S 571.34795,374.43CURRENT 649.7712,521,894.694,582,920.80IMPORTS OF GOODS AND ,521,894.694,582,920.80EXPORT OF GOODS AND SERVICESCOMPENSATION OF EMPLOYEESFROM THE REST OF THE WORLDPROPERTY AND ENTREPRENEURAL INCOMEFROM THE REST OF THE WORLDOTHER CURRENT TRANSFERSFROM THE REST OF THE WORLDCOMPENSATION OF EMPLOYEESTO THE REST OF THE WORLDPROPERTY AND ENTREPRENEURAL INCOMETO THE REST OF THE WORLDOTHER CURRENT TRANSFERSTO THE REST OF THE WORLDSURPLUS OF THE NATION ON CURRENTTRANSACTIONSDISPOSAL OF CURRENT RECEIPTS.
APPENDIX
EXPENDURE ON GROSS DOMESTIC PRODUCT 2010‐Q1, 2014TABLE 1GROSS DOMESTIC PRODUCT AND EXPENDITURE AT CURRENTPURCHASERS' VALUE( N al Cosumption Expenditure of general 1,124,440.81Collective Cosumption Expenditure of general 166,370.89GROSS FIXED CAPITAL ,677.549,424,691.19EXPORTS OF GOODS AND 307.6414,013,840.83LESS IMPORTS OF GOODS AND 019.469,644,605.34EXPENDITURE ON THE GROSS DOMESTIC 20,877.9155,469,350.30COMPENSATION OF ,161.7614,626,616.12OPERATING ,168.7037,238,661.09CONSUMPTION OF FIXED 50,720.13OTHER TAXES ON 9514,516,589.0815,020,877.9155,469,350.31FINAL CONSUMPTION EXPENDITURE OF HOUSEHOLDFINAL CONSUMPTION EXPENDITURE OF NON‐PROFIT INSTITUTIONSSERVING HOUSEHOLDFINAL CONSUMPTION EXPENDITURE OF GENERAL GOVERNMENTCHANGES IN INVENTORIESGROSS DOMESTIC PRODUCT AT BASIC PRICESNET TAXES ON PRODUCTSGROSS DOMESTIC PRODUCT AT MARKET PRICES
TABLE 2NATIONAL DISPOSABLE INCOME AND ITS APPROPRIATION2010Q1Q2Q3Q4TotalCOMPENSATION OF ,161.7614,626,616.12OPERATING ,168.7037,238,661.09DOMETIC FACTOR .5322,296.10FROM THE REST OF THE ��797,635.89‐2,954,476.86NET TAXES ON NAL CONSUMPTION EXPENDITURE OF HOUSEHOLDFINAL CONSUMPTION EXPENDITURE OF NON‐PROFIT INSTITUTIONSSERVING 13,134.523,727,593.0711,179,958.64APPROPRIATION OF DISPOSABLE 6,984.1052,913,490.93CURRENT PURCHASERS' VALUE( N 'MILLION)COMPENSATION OF EMPLOYEESFROM THE REST OF THE WORLD NETPROPERTY AND ENTREPRENEURIAL INCOM
Nigerian Gross Domestic Product Report (expenditure approach) Q1 2014 17 NOV 2014 . PREFACE This publication provides data on Quarterly Gross Domestic Product (GDP) by the EXPENDITURE approach estimates for the First Quarter of 2014. It also contains quarterly estimates from 2010-2013 Quart
domestic product, and to the industrial share in the gross domestic product. Besides, in the short run, the causality the exercise explored is a bidirectional causality between the gross domestic product and the energy consumption, the gross domestic product and the industrial share in the gross domestic product, the energy consumption and the .
C DOMESTIC PRODUCTION, CONSUMPTION AND PRICES C.1 PRODUCTION AND CONSUMPTION C.1.1 Gross Domestic Product at Current Basic Prices - Annual C.1.2 Gross Domestic Product at 2010 Constant Basic Prices - Annual C.1.3 Implicit Price Deflator - Annual C.1.4 Gross Domestic Product at Current Basic Prices - Quarterly
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Nigerian Legal System in resolving disputes as and when necessary. To make an attempt to create national legal norms that regulates and stipulates rights and duties of the citizenry, etc. These broad aims will be achieved by: i. Introducing you to Nigerian Legal System, and the basic principles and sources of Nigerian Legal System. ii.
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