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Nigeria’s manufacturing output hits N7trn in Q3, 2021
By Ibrahim Adeleke
Nigeria’s manufacturing sector has recorded a total output of N7.1 trillion in the third quarter of the year 2021.
According to the latest data on Gross Domestic Product report released by the Nigerian Bureau of Statistics, the N7.1 trillion is N1.7 trillion higher than N5.4 trillion recorded in the second quarter of the year.
The output of N7.1 trillion for Q3 2021 also represents an increase of N1.6 trillion when compared to the N5.5 trillion recorded in the Q3 2020.
According to the report, 11 out of the 13 subsectors of the manufacturing sector recorded positive economic performance quarter-on-quarter while only two sub-sectors experienced a decline in productivity.
The 11 sub-sectors that recorded increase in economic performance include cement, from N1.1 trillion in Q2 2021 to N1.7 trillion in Q3 2021 are; food, beverage and tobacco, from N1.9 trillion to N2.3 trillion; textile, apparel and footwear, from N1.1 trillion to N1.4 trillion; and wood and wood products, from N107.6 billion to N126.5 billion.
Other subsectors are pulp, paper and paper products, from N70.7 billion to N96.5 billion; chemical and pharmaceutical products, from N149.3 billion to N168.5 billion; non-metallic products, from N346.2 billion to N448.4 billion; plastic and rubber products.
Also, from N145.3 billion to N199.2 billion; electrical and electronics, from N3.7 billion to N4.8 billion; basic metal, iron and steel, from N96.9 billion to N143.3 billion; and other manufacturing, from N129.4 billion to N255.8 billion.
