This Background Paper and Statistical Appendix examines economic development in Nigeria in the first half of the 1990s. Economic growth slowed for the fourth consecutive year in 1994, to 1.3 percent from 2.3 percent in 1993. The slowdown was widespread, affecting every sector except agriculture. Output in the petroleum sector is estimated to have declined by 6 percent, mainly as a result of industrial actions by oil workers during July and August 1994. In the non-oil sectors, negative growth was recorded in both fishing and manufacturing activities.

Abstract

This Background Paper and Statistical Appendix examines economic development in Nigeria in the first half of the 1990s. Economic growth slowed for the fourth consecutive year in 1994, to 1.3 percent from 2.3 percent in 1993. The slowdown was widespread, affecting every sector except agriculture. Output in the petroleum sector is estimated to have declined by 6 percent, mainly as a result of industrial actions by oil workers during July and August 1994. In the non-oil sectors, negative growth was recorded in both fishing and manufacturing activities.

III. Summary of the Tax System as of June 1995

(All amounts in naira)

article image
article image
article image
article image
article image
article image

These rates apply to the 1995 tariff regime.

Appendix I

Table 1.

Nigeria: Gross Domestic Product by Sector of Origin at Current Prices, 1984-94

article image
Sources: Federal Office of Statistics; National Planning Commission; and staff estimates.
Table 2.

Nigeria: Gross Domestic Product by Sector of Origin at Constant 1984 Prices, 1984-94

(In millions of naira)

article image
Sources: Federal Office of Statistics; National Planning Commission; and staff estimates.
Table 3.

Nigeria: Gross Domestic Product by Expenditure Category at Current Prices, 1987-94

article image
Sources: Federal Office of Statistics; National Planning Commission; and staff estimates.

National disposable income minus consumption.

Domestic disposable income minus consumption.

Table 4.

Nigeria: Gross Domestic Product by Expenditure Category at Constant 1984 Prices, 1987-94

article image
Sources: Federal Office of Statistics; National Planning Commission; and staff estimates.

National disposable income minus consumption.

Domestic disposable income minus consumption.

Table 5.

Nigeria: Selected Petroleum Statistics, 1988-94

article image
Sources: Central Bank of Nigeria; Nigerian National Petroleum Corporation; and staff estimates.

Includes condensates.

Balance of payments basis, including exports of condensate.

Average price of high pour and low pour fuel oil.

Table 6.

Nigeria: Selected Indicators of Agricultural Production and Prices, 1988-94

article image
Sources: Federal Office of Statistics; and Central Bank of Nigeria.
Table 7.

Nigeria: Index of Industrial Production, 1987-94

article image
Source: Central Bank of Nigeria.
Table 8.

Nigeria: National Consumer Price Indices, 1985-94

(September 1985 = 100)

article image
Sources Central Bank of Nigeria, and Federal Office of Statistics
Table 9.

Nigeria: Rural Consumer Price Indices, 1988-94

(September 1985 = 100)

article image
Sources Central Bank of Nigeria, and Federal Office of Statistics
Table 10.

Nigeria: Urban Consumer Price Indices, 1988-94

(September 1985 = 100)

article image
Sources Central Bank of Nigeria, and Federal Office of Statistics