How true is the claim by the People’s Democratic Party Presidential candidate, Atiku Abubakar, that the Oil Sector Represents 20% Of Nigeria’s GDP?
Atiku claimed during an hour-long pre-recorded interview aired on July 22, 2022, that the “Oil sector accounts for about 20% of our GDP, the bulk of our GDP is non-oil,”
He said he would rather develop the non-oil sector due to the country’s relatively slow economic growth, while reeling out his plans to lift Nigerians out of poverty.
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Checks By THE WHISTLER
However, the National Bureau Of Statistics(NBS) data shows that “The Oil sector contributed 6.63% to the total real GDP in Q1 2022.
Further checks of data from Q4 of 2020 and 2021 show that the oil sector has not contributed up to 10% of the country’s GDP.
The analyzed contribution of the oil sector to the 2020 and 2021 real GDP, stands at 5.87% and 7.24% respectively.
See the data visualization below
Verdict: THE WHISTLER, therefore, rates the claim as FALSE