Nigeria records 7.7% GDP Growth in 3rd Quarter

Nigeria‘s Gross Domestic Product grew by 7.07 percent in the third quarter of 2009, up from 6.13 percent recorded during the same period last year.

National Bureau of Statistics in a statement on its website said the real GDP growth observed in the third quarter was accounted for by the increase in the oil sector of the economy

”Nigeria‘s crude oil and condensate production averaged 2.15 million barrels per day in the third quarter, up from 2.14 million during the same period last year,” the report added

According to NBS, oil production estimates for Nigeria, Africa‘s biggest energy producer vary depending on which streams are considered as condensate.

The Minister of State for Petroleum, Odein Ajumogobia, said on Sunday that Nigeria had not produced above 2 million bpd for some time and was currently pumping between 1.8 and 1.85 million bpd.

Source: punchng.com

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