NATIONAL ACCOUNTS – N’ BILLION

Year Gross Domestic Product at 1984 Factor Cost Gross Domestic Product at Current Market Prices Real Growth Rate

(%)

1970/71 54.14 5.20
1971/72 65.70 6.57 21.3
1972/73 69.31 7.20 5.5
1973/74 73.76 10.99 6.4
1974/75 82.42 18.29 11.7
1975/76 79.98 20.95 (2.9)
1976/77 88.85 26.65 11.1
1977/78 96.09 31.52 8.1
1978/79 89.02 34.54 (7.4)
1979/80 91.19 41.94 2.4
1980 96.18 49.63 5.5
1981 70.39 50.45 (26.8)
1982 70.15 56.70 (0.3)
1983 66.38 56.70 (5.4)
1984 63.00 63.00 (5.1)
1985 68.91 71.36 0.4
1986 71.07 72.12 3.1
1987 70.74 106.88 (0.5)
1988 77.75 142.67 9.9
1989 83.49 222.45 7.4
1990 90.34 257.57 8.2
1991 94.61 320.24 4.7
1992 97.43 544.33 3.0
1993 100.00 691.60 2.7
1994 101.33 911.07 1.3
1995 103.51 1,960.69 2.1
1996 107.03 2,749.72 3.4
1997 110.13 2,939.65 2.9
1998 112.95 2,881.31 2.6
1999 116.14 3,330.06 2.8
2000 120.64 4,980.95 3.9
2001 125.72 5,702.65 4.2
2002 129.83 5,901.97 3.3

1/ Revised

2/ National Planning Commission Projections

Note: The accounting year differ from 1970/71 to 1979.80 which was April to March 1980 the accounting year stated January – December.

Source: Federal Office of Statistics, Lagos, CBN, Annual Report and Statement of Account.