NESG 2019 GDP by Expenditure Alert May 2020, The Nigerian Economic Summit Group
May 2020

GDP by expenditure expanded by 2.2% in FY’2019, as household consumption remained the dominant component According to the National Bureau of Statistics (NBS), real expenditure on gross domestic product (GDP) in 2019 rose by 2.2% to N72.1 trillion from N70.5 trillion in 2018. This represents an improvement in real aggregate expenditure growth relative to its level in 2018 (1.9%). In nominal terms, aggregate expenditure was 12.8% higher at N145.6 trillion in 2019 compared with its level in 2018 (N129.1 trillion). The current growth rate in nominal expenditure is also above its level in 2018 (11.9%). The increase in aggregate expenditure growth, in real and nominal terms, could be partly attributed to higher domestic investments, with other expenditure components exhibiting mixed trends.