What contribution does the oil sector make to Nigeria’s GDP?
In nominal terms, Nigeria's GDP in the second quarter of 2022 stood at N45 million. The oil sector contributed 6.3% (N2.85 million) to the total real GDP in the second quarter of 2022, down from the figures recorded in the corresponding period of 2021 and the preceding quarter, where it contributed 7.4% and 6.6% respectively.