BY Oluseyi Awojulugbe
Data released by the National Bureau of Statistics (NBS) showed that the economy recorded a growth of 1.4 percent in the third quarter of 2017.
This signals a consolidation of the 0.72 percent growth recorded in the second quarter of the year.
However, an analysis of the gross domestic product (GDP) report released by the NBS showed that the oil sector grew by 25.89 percent and contributed 10 percent to the GDP, up from nine percent in the second quarter of 2017.
The non-oil sector grew by 0.03 percent in the third quarter to stand at -0.76 from the 0.79 percent recorded in the second quarter.
Here are the three worst performing sectors as of the end of the third quarter of 2017.
Manufacturing sector
Of the 13 sub-sectors in the manufacturing sector, seven experienced a contraction in Q3 and sub-sectors like motor vehicles and assembly, pulp, paper and paper products and cement maintained the negative growth witnessed in the second quarter.
Electrical and electronics, chemical and pharmaceutical products, wood and wood products are some of the sub-sectors that recovered from negative growth while food, beverage and tobacco, textile and footwear have experienced growth since the beginning of 2017.
Transportation and Storage sector
In this sector, air, water, rail transportation and transportation services are the only sub-sectors that recorded growth.
Road transportation continued its decline from the second quarter while post and courier services experienced a decline for the first time since the beginning of 2017.
Information and Communications sector
In this sector, broadcasting and publishing are the only sub-sectors that have not experienced a decline since the beginning of 2016.
With the exception of the first quarter of 2017, motion pictures, sound recording and music production sub-sector has been on a decline since the beginning of 2016.
Telecommunications and information services also recorded a decline.
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