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EKITI GROSS DOMESTIC PRODUCT (SGDP) REPORT 2013 - 2017

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Ekiti State Government took interest in the computation of State GDP with a view to having an indicator for measuring overall and sectoral level of the State’s economy.
The computation of this edition of State GDP was a programme jointly initiated by the Federal Ministry of Budget and National Planning, National Bureau of Statistics and Governors’ forum in 2012. The idea of joint conduct of the exercise was to adopt uniform methodology and approach using hybrid method but with more emphasis on bottom-up approach.

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EKITI GROSS DOMESTIC PRODUCT (SGDP) REPORT 2013 - 2017

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  2. 2. 2 PREFACE Gross Domestic Product is an economic measure of a nation’s total income and output for a given period of time. It reveals the total value of goods and services. It is a good indicator for measuring a nations’ overall standard of living in the sense that quality of life rises as GDP increases. It is by this very fact that Ekiti State Government took interest in the computation of State GDP with a view to having an indicator for measuring overall and sectoral level of the State’s economy. The computation of this edition of State GDP was a programme jointly initiated by the Federal Ministry of Budget and National Planning, National Bureau of Statistics and Governors’ forum in 2012. The idea of joint conduct of the exercise was to adopt uniform methodology and approach using hybrid method but with more emphasis on bottom-up approach. Ekiti State Government during the 1st term of Dr John Kayode Fayemi keyed into the programme of computation of State GDP by paying the required counterpart contribution as far back as March, 2013. However, the exercise did not materialize until the first quarter of 2019 when the programme was executed in Ekiti State, thus making the State one of the 22 States (FCT inclusive) that eventually participated. The task of computation of State GDP was actualized in the State with extensive fieldwork carried out by staff of Ekiti State Bureau of Statistics and Ministry of Budget and Economic Planning in collaboration with National Bureau of Statistics officials. The fieldwork which was preceded by an extensive training facilitated by NBS Officials set the stage for the successful conduct of the exercise. The training workshop exposed participants to SGDP framework, Survey Design and Instruments, System of National Accounts, Approaches for measuring GDP, International Standard Industrial Classification (ISIC) and administration of templates. Quick steps were taken to avert the problem of deficient frame that would have marred the exercise by strengthening the frame with relevant information from the following Ministries, Extra-Ministerial Departments and Agencies. They are Ministry of Trade, Investment and Innovation, Ministry of Agriculture and Natural Resources, Ministry of Health and Human Services, Ministry of Education, Science and Technology, Ministry of Lands, Housing and Urban Development, Ministry of Works and Transportation and Solid Minerals Development Agency among others. Series of measures taken led to the successful conduct of the exercise and a hitch-free analysis. I want to sincerely appreciate our amiable Governor of Ekiti State, His Excellency, Dr John Kayode Fayemi not only for his passion for the exercise and payment of the required counterpart contribution initially, but for committing more resources at ensuring the generation of robust data for the State. The Secretary to the State Government, Mr Biodun Oyebanji and the Hon. Commissioner for Finance and Economic Development, Mr Dapo Kolawole also deserved our special acknowledgement for the roles played at ensuring the successful conduct of the exercise. I must not forget to thank the former Acting Head of Service, Mrs Peju Babafemi and the current Head of Service, Mr Ayodeji Ajayi for their advice during the computation of the State GDP. I equally wish to acknowledge the Hon. Commissioner for Budget and Economic Planning, Mr Femi Ajayi who took over the supervision of State Bureau of Statistics from the Secretary to the State Government after he was appointed for ensuring the final production of this report and for his keen interest at ensuring smart governance through actionable data.
  3. 3. 3 I am highly indebted to the Statistician General of the Federation, Dr Yemi Kale, the head of National Accounts at NBS, Mr Baba Madu, the lead trainers – Mr Ekezie Obinna and Dr Kunle Ajayi without whose guidance, the exercise would not have achieved the desired result. I cannot but appreciate the contributions of Offices of Accountant General and State Auditor General for making Annual Financial Report of the State available for the exercise. The MDAs listed earlier are equally sincerely acknowledged. Lest l forget, the programme would have met a brick wall if not for my ever ready to work staff at the State Bureau of Statistics who gave the exercise all that it required. You are sincerely appreciated as dependable ally. To all proprietors and heads of various establishments and individuals contacted for information, you are deeply appreciated. Above all, glory and adoration to God Almighty who saw us through the exercise. Michael Olajide Oguntimehin, FNSA Statistician General Ekiti State.
  4. 4. 4 EXECUTIVE SUMMARY Ekiti State was created on 1st October, 1996 thus becoming one of the thirty-six States of Nigeria. The State lies within the tropics between longitudes 40 451 and 50 451 East of the Greenwich Meridian and latitudes 70 151 and 80 51 North of the equator. It is mainly an upland zone rising over 250 meters above sea level and has rhythmically undulating surface consisting of steep-sided out cropping of dome rocks. The landscape consisting of ridges and hills locally known as ‘Okiti’ from which the State derives its name ‘Ekiti’. The State lies within the tropics with the vegetation of Tropical Forest in the South and Guinea Savannah in the Northern peripheries thus making the land suitable for various crops like cocoa, kolanut, cashew, yam, cassava, rice and maize among others. The State has a rapidly growing population with a figure of 2,398,957 in 2006 and a projected figure 3,438,537 in 2017. It has 16 LGAs as Local administrative units subdivided again into 177 wards for political representation and effective grass root administration. The State has largely untapped mineral resources thus making the economy of the State depend largely on agriculture, small and medium scale enterprises and Civil Service. The State is known all over the Country and beyond for its academic prowess which is supposed to be market-oriented. The State derives the chunk of its revenue from the federal allocation that contributes well over 80% to the State annual budget outside loan. It is to determine the level and strength of the economy of the State that spurred Ekiti State Government to participate in the computation of State GDP. This is being done with a view to repositioning the State for economic advancement and improved standard of living. The State economic statistics in which State Gross Domestic product occupies strategic position have important roles to play in the formulation, implementation and evaluation of State policies and programmes. It helps the State to determine areas of its comparative advantage with a view to turning such to economic fortune. The selection of the economic activities for the computation of the State GDP was based on International Standard Industrial Classifications (ISIC) rev 4.0 and System of National Accounts (SNA 2008). The project was jointly executed by National Bureau of Statistics and Ekiti State Bureau of Statistics adopting majorly the bottom-up approach method. The areas where data were not available at the State and Local Government levels were covered with data from the National level. At the outset, the probability proportional to size of activities that exist within the State were adopted to determine the number of economic activities studied in the State. The standard questionnaires developed by National Bureau of Statistics (NBS) and with input from Stakeholders including State Bureau of Statistics were used for the exercise. Also, the ‘establishment frame’ provided by NBS based on the list of establishments compiled by Federal Inland Revenue Services (FIRS) was used. The frame was supplemented by another frame generated by Ekiti State Bureau of Statistics through some relevant Ministries, Extra-Ministerial Departments and Agencies. A four-day extensive training undergone by Enumerators and Supervisors assisted in laying a solid foundation for the successful conduct of the fieldwork which lasted for 4 weeks. The training also provided information on the knowledge and skills required for data analysis and report production.
  5. 5. 5 The report of the survey was captured under six chapters viz. The State’s Profile, Methodology, Sectoral Analysis of Ekiti State Gross Domestic Product (SGDP), SGDP per Capita, Comparative Analysis of SGDP in the South West Nigeria and Conclusion. From the Survey, the Ekiti State Gross Domestic product was found to be N879.93 billion in 2013 which grew to N936.26 billion in 2014 and N1,225.2 billion (N1.225 trillion) in 2015. It further increased to N1,369.40 billion and N1,390.02 billion in 2016 and 2017 respectively. The figure based on Current Basic Prices grew by 6.40% in 2014, 30.86% in 2015 and 11.77% in 2016. It however increased by as low as 1.51% in 2017 depicting the economy to be facing some critical challenges. The agricultural sector and the Services Sector were the dominant contributors to the economy throughout years 2013 to 2017. The contribution of Agriculture to the State GDP ranged between 39.6% and 46.2% during the period. Also Service Sector accounted for between 42.0% and 47.6% share of the State GDP. While agriculture sector was observed to be fluctuating, the Services Sector appears to be making steady growth from 42.0% in 2013 to 47.0% in 2017 except the slight drop observed in 2015. The contribution of the Industry Sector lies between 11.8% and 15.2% throughout the five-year period thus indicating the weak base of industrial development in the State. Specifically on activity basis, crop production, food, beverage, tobacco, trade as well as communication and information services contributed significantly to the State GDP with crop production taking a distant lead. The State GDP per capita was observed to be rising from N209,845.53 in 2013 to 411,201.81 in 2016 after which it dropped to N404,247.39 in 2017. The State GDP per capita using a US Dollar Value gave a different picture due to fall in the value of Naira to Dollar as the years progress. On the Dollar-based per capita, the value was $1,849 in 2013
  6. 6. 6 which increased to $1900 in 2014 and further to $1,974 in 2015. It thereafter crashed to $1,622 and $1,322 in 2016 and 2017 respectively. On the comparative analysis of SGDP in selected States in the South-West, Nigeria, it was discovered that Ondo State took the lead in the five-year period although Lagos State was not covered in the exercise, Ondo State GDP which was about N1.92 trillion in 2013 had increased to N2.93 trillion in 2017. Ogun State took the second position with the total GDP value of N2.81 trillion in 2017 compared to the figure of N1.73 trillion in 2013. Oyo State stood in the third rank with an amount of N2.51 million as at 2017. Ekiti and Osun State were however exchanging forth and fifth positions while Ekiti occupied fourth in years 2015 and 2016 while Osun was in that same position in years 2013, 2014 and 2017. Generally speaking, the economy of Ekiti State was not very impressive and it showed that there was no strategic, aggressive and sustainable policies put in place within the period for growing the agricultural and industrial sectors. The effort made to boost tourism between 2010 and 2014 was not sustained. The Youth in Commercial Agriculture Programme (YCAD) got truncated; Ire burnt Bricks Company got stagnated while Gossy Water Bottling Company became moribund between 2015 and 2018. Also some companies such as Cocacola Company in the State relocated outside the State while once Ikogosi with beehive of activities became a shadow of itself between 2016 and 2017. Although, some challenges were faced in the course of the assignment including obsolete establishment frame, reluctance by some establishments to respond promptly to our questionnaires and the likes, instant pro-active measures were taken not to allow such challenges adversely affect the outcome of the exercise. It is germane to note that with the computation of State-based GDP for the first time in the State, a good foundation has been laid for the measurement of the State’s economy. This remarkable achievement should therefore be sustained. The recommendations made in this report will help in no small measure at repositioning the State in terms of economic transformation and robust data generation for effective and result oriented planning and performance monitoring.
  7. 7. 7 CHAPTER ONE BACKGROUND INFORMATION ABOUT EKITI STATE 1.1 HISTORY Ekiti State was created out of the old Ondo State on 1st October, 1996 with Ado-Ekiti as the State capital. The State has a checkered history of not very stable government unlike many states in Nigeria. Within the space of 23 years of its creation (1996-2018), it had 11 Administrators/governors presiding over the affairs of the State in thirteen streams. This had had negative impact on having enduring policy for sustainable development in the State. 1.2 GEOGRAPHY The State lies between longitudes 4o 45I and 5o 45I East of the Greenwich Meridian and latitudes 70 15I and 80 5I North of the Equator, thus, indicating that the State lies within the tropics. It is a land-locked State bounded in the North West by Kwara, in the North East by Kogi, in the South by Ondo and in the West by Osun State. Ekiti State is mainly an upland zone rising over 250 meters above sea level and has rhythmically undulating surface. The landscape consists of ancient plains broken by steep- sided out cropping dome rocks and most notable of these are found in Efon Alaye, Ikere Ekiti and Okemesi-Ekiti. An important feature of the State is the large number of hills it possesses, which are often the sites of towns in which much of the population resides. For instance, Orole, Olosunta, Agarigi, Ofin and Ayoba hills among others. Some of the outcropped rocks are perhaps Igneous or Metaphoric in nature. Most are dark, shinning with smooth or rough surface being evidence of weathering effect. Where the hills are cut through for road construction, the evidence of layering are visible thus suggestive of sedimentary rock formations while some show evidence of limestone, quartz or other mineral deposition. Specifically, Ekiti was derived from the local name for hill ‘Okiti’ OLOSUNTA HILL, IKERE EKITI
  8. 8. 8 The hilly ridges provide panoramic hilly green scenery as you drive through the state. This is probably responsible for the winding roads common throughout the State. The state enjoys tropical climate with two distinct seasons, the rainy season (April to October) and dry season (November to March) with annual slight variations of rainfall between 1400cm to 1500cm per annum with relatively high humidity. The vegetation is Tropical Forest in the South and Guinea Savannah in the Northern part of the State. Among the major rivers in the State are Ero, Ogbese, Ureje, Ele and Osun. 1.3 POPULATION/ DEMOGRAPHY The 2006 Population and Housing Census put the State figure at 2,398,957 with a projected population figure of 3,438,537 in 2017. The gender disaggregation of the data shows that male population accounts for 50.7% while female counterpart accounts for 49.3% translating to sex ratio of 103 (i.e. for every 103 males there are corresponding 100 females). The age structure of the population shows that a little more than one third (36.1%) of the population are in active labour force of 25-64 year while 3.6% are aged, being above 65 years of age. A little less than one quarter of the population (23.3%) are young people in the age range of 15-24 while as much as 37% falls under age 15. Ekiti is a sub-group of Yoruba whose ancestors are known to have migrated from Ile-Ife, the cradle of Yoruba race. The people of Ekiti State are culturally homogenous and speak a special dialect of Yoruba language known as Ekiti. The local dialect is spoken with slight variations in the accent in the different communities, but this does not prevent Ekiti indigenes from understanding each other. Christianity, Islam and traditional religions are all practiced but with Christianity being the most dominant.
  9. 9. 9 1.4 GOVERNANCE The political administration of Ekiti State is managed by the three arms of government. The Executive arm headed by the Governor, the Judiciary headed by the Chief Judge and the Legislature headed by the Speaker. This structure ensures there are checks and balances in government. The State is also divided into three (3) Senatorial districts, six (6) Federal constituencies, sixteen (16) Local Government Areas (LGAs) and one hundred and seventy- seven (177) wards. 1.5 NATURAL RESOURCES Ekiti State is naturally endowed with numerous natural resources. The State is blessed with mineral deposits which include granite, kaolinite, columbite, iron ore, barite, gemstone, phosphate and limestone. They are largely deposited in different areas in Ekiti which include Ijero, Ekiti West, Ado, Oye, Ikole, Ikere, Ise-Orun and other Local Government Areas. The State is equally blessed with forest resources due to its location in tropical forest region of Nigeria. Notably, tropical forest are in the Southern part of the State while Guinea Savannah occupies the Northern peripheries. The climate is also favourable to so many cash and food crops including Cocoa, Kolanut, Cashew, Yam, Cassava, Rice and Maize. There are also many varieties of fruits such as Orange, Pineapple, Watermelon, Plantain and Banana which are cultivated in commercial quantities. The Senatorial districts include: Ekiti Central with five LGAs, Ekiti North with five LGAs and Ekiti South with six LGAs. Policies can only become law in the State after reviews and approvals by the Executive and Judiciary and passage by the Legislative arm of government as well as final endorsement by the Governor.
  10. 10. 10 The State is also endowed with water resources such as Ero, Ose, Ogbese, Ele among others. A variety of tourist centres also abound in the State , it includes a world-class Ikogosi Warm Spring Resorts and Fajuyi Memorial Park. Others are Arinta Water Falls, Olosunta and Orole hills, in Ikere Ekiti, Agarigi hill in Itapa – Ekiti, Kosegbe Stone in Ilupeju Ekiti and a host of others that could be utilised to transform the economic prowess of the State. As a measure to boost tourism as part of economic emancipation of Ekiti State, the State government had developed infrastructure, accommodation and leisure facilities around the 130-hectare commerce and tourism destination, situated in the heart of Ekiti tourism corridor Belt, Ikogosi Ekiti. The completed phase 1 of the project comprised the following among others: 100 standard room chalets, 12 numbers of suite apartments, 3 numbers of VIP villas, 1 number of Executive VIP lodge, 840m2 of therapeutic warm springs swimming pool area, convention centre, variety mall building, restaurant, bars, sports recreation, amphitheaters, laundry, fencing with safety security system and surveillance and 450-car packing slots, among others. The location of the State makes timber very important accounting for so many sawmills in the State. 1.6 ECONOMY
  11. 11. 11 Agriculture is the main occupation of the people of Ekiti, and it is the major source of income for more than 70% of State population. Some of Ekiti’ agricultural cash crops include: cocoa, oil palm, kolanut, plantain, banana, cashew, citrus fruits and timber while food crops include: rice, yam, cassava, maize and cowpea. Agriculture use to provide income and employment for more than 75% of the population of Ekiti State but the situation appears to be declining fast. Ekiti State has the least approved budget in the South West with annual budget ranging from N71.25 billion in 2006 to N103.88% billion in 2014. The budget implementation rate for the State has remained low ranging from 51% in 2015 to 74% in 2017. Actual expenditures for the State have varied in the last 7 years with the highest expenditure of N68.52 billion recorded in 2017 and the lowest of N41.03 billion recorded in 2015. The State relies heavily on the federal allocations to fund her budgets with the internally generated revenue (IGR) consistently falling below 20% of the State’s expenditure, ranging between N3.88 billion in 2011 to the highest level of N11.64 billion in 2017. With the dwindling global oil prices, the federal allocation to States has been on the decline hence affecting the State’s capacity to fund her budgets. The budget breakdown shows that over the years, the bulk of the budget has been spent on recurrent expenditures. In 2005 for instance, 86.0% of the budget was spent on recurrent expenditures leaving only 14.0% for capital projects. It was only in the year 2012 that as much as 39% was spent on capital projects. This situation has left the State dependent on borrowing to make up for budget shortfalls and fund capital projects. The State Debt Profiles report by the National Bureau of Statistics showed that Ekiti State had a total of N117.7 billion domestic debts and $78.1 million foreign debts as at December 2017. 1.7 SOCIAL SERVICES Our greatest resources in Ekiti State remains our people, most especially our youths and since human beings are the measure of all things, then healthy and enlightened people can drive the sustainable development we want to achieve in the State (Governor Kayode Fayemi while receiving National Sports Festival Unity Torch on 24th Nov, 2018). Apart from the contributions of Agriculture, Commerce/Small and Medium Scale Enterprises to the State’s economy, the social services sector play pivotal role in economic development. A society with weak knowledge economy and poor health status will find it difficult to wriggle out of economic comatose.
  12. 12. 12 Ekiti State has a total of 904 Public Nursery and Primary Schools and 194 Public Secondary Schools as well as 3 Technical Colleges. These are complemented by additional 788 registered Private Nursery and Primary Schools and 278 Secondary Schools. There is also one College of Education; One (1) School of Nursing; One (1) School of Midwifery; three (3) Colleges of Health Science (2 Private); two Polytechnics (1 Private); 1 College of Agriculture and three Universities (1 Private, 1 Federal). All these are contributing in no small measure in building the State knowledge economy. The State also has 349 health care facilities with 326 (93.4%) primary, 21(5.7%) Secondary and 2 Tertiary Hospitals. In addition, there are 237 Private Health Facilities out of which one of them is a tertiary health facility. It should be noted that (109) 46% of the private health facilities are located in Ado Local Government. Apart from the contribution of Ministry of Information and Value Orientation to public enlightenment and education on the State economy, there are also six electronic media houses in the State providing requisite information in reshaping the economy of the State. Although the State had experienced a lull in sports development in the recent past, concerted efforts had been made recently on the revival and rebranding of Ekiti State United football team to play in the National League in Nigeria and with the aim of getting it promoted to the Nigeria professional football league. It was pertinent for the State, known for its academic prowess to look in the direction of Sports. Its logical to turn towards the attainment of feats in Sport’’-Gov. Kayode Fayemi. The State is performing well in basketball and table tennis thus helping in raising the economic fortune of the State. Some of the indigenes of the State had equally performed well in athletics.
  13. 13. 13 CHAPTER TWO METHODOLOGY 2.1 INTRODUCTION This Chapter covers the methods adopted for the computation of State GDP. For the exercise, the selection of economic sectors and activities were based on International Standards Industrial Classification (ISIC) rev 4.0 and System of National Accounts (SNA 2008). The State GDP manual produced by NBS with the support of Governors’ forum and Development Partners served as the reference document during training, fieldwork and monitoring exercises. 2.2 SAMPLE DESIGN/SELECTION As a survey coordinated by the National Bureau of Statistics, the frame for the sector and activities to be covered using the bottom-up approach were provided by the National Bureau of Statistics for all States involved in the exercise, Ekiti inclusive. A total of 2,990 establishments were covered across 11 states (inclusive of FCT) that participated in the second stage of the exercise. However, adjustments were made to the samples based on reality on ground in Ekiti State. Beyond the 270 pre-selected samples across 18 of the activities, the State Bureau of Statistics made conscious efforts to cover some additional samples as back up for any deficient areas. The samples mentioned above only refer to selection based on bottom-up approach. It excluded data collected through administrative records and data gathered directly at National level for disaggregation into States. Two stage sampling methods were adopted with the first stage being the stratification of the samples to be selected into various sector activities. The second stage was the stage where pre-determined samples were selected for enumeration in each of the activities using systematic random sampling. This is to ensure that all sectors required for computation of the State GDP according to ISIC rev. 4.0 were covered except the sector activities that are not available in the State, e.g. Oil and Refinery, Shipping activities and mining among others. At the onset, Probability Proportional to Size (PPS) of activities that exist within the State were adopted to determine the number of economic activities to be studied in the State. Manual adjustments of samples size were done where necessary. It is necessary to point out here that in case of non-availability of establishments selected; other establishments within the economic activities of the previous establishment were selected. Where such activities were still not available, other economic activities with lower number of establishments were selected as replacement. The State Accountant General and Auditor General Annual Reports/Audited Reports for the period covered by the exercise were collected to source for some of the facts required for activities of the State Government. 2.3 QUESTIONNAIRE DESIGN
  14. 14. 14 The standard questionnaires developed by National Bureau of Statistics were used for the enumeration of various establishments. It should however be noted that the input of critical stakeholders including State Bureau of Statistics have been sought before finalizing the questionnaires for adoption. The questionnaires were structured to elicit information from various sectors of the economy in line with the requirement of production approach to cover  Labour Cost – compensation of employees  Intermediate Consumption: - the value of goods and services used up in the production process  Production Output – the value of all goods and services produced  Operating Surplus and Consumption of Fixed Capital – the balance of surplus and deficit from production (Operating Surplus) and the cost of capital used up in the production process (Consumption of fixed capital) and  Net Indirect taxes 2.4 SAMPLE FRAME The Establishment frame by National Bureau of Statistics specifically meant for Ekiti State was released to Ekiti State for the exercise. The frame was based on the list of establishments compiled by Federal Inland Revenue Service (FIRS). The frame contains name of Establishments; Business line, Sector, Address of the Establishment, State and Branch location. The Establishments were re-classified by National Accounts Division of NBS using ISIC rev 4.0 version. However, this frame was supplemented with the following:  Directory of SMEs and Industrial Establishments in Ekiti State.  Directory of Educational Institutions in Ekiti State  Directory of Health facilities (Public and Private)  List of Estate Agents in Ekiti State  List of Consultants/Contractors Operating with Ministry of Works and Transportation & SUBEB  List of Solid Minerals and Quarry sites in Ekiti State. 2.5 TRAINING A four-day training was organized for the Enumerators/Interviewers, Supervisors, Coordinators and Monitors. The lead trainers were deployed for the exercise by National Bureau of Statistics. The Secretary to Ekiti State Government represented the State Governor to charge the participants on the importance and seriousness required for the exercise.
  15. 15. 15 TRAINING SESSIONS FOR COMPUTATION OF STATE GDP Although the training was meant for 18 officials beside the Trainers, Ekiti State Bureau of Statistics used the forum to train all her Technical Officers as well as 3 staff from Ministry of Budget and Economic Planning with additional cost borne by the State Government. The additional staff complemented the efforts of the initial 18 officials on the field.
  16. 16. 16 2.6 FIELD WORK The field work initially meant for 3 weeks lasted four weeks because of replacement of samples that were no longer in existence in the State. During the period, Enumerators were assigned to all the 16 LGAs according to number of Establishments to be covered. Enumerators were deployed to the field in at least a group of two each, to be able to monitor the security of one another and to ensure that the require procedures were followed. The approach adopted was the identification of listed establishment using direct interview and lodging of questionnaire for retrieval later where the information could not be sourced immediately. During the field work, the establishments that did not show the required co-operation after concerted efforts were substituted with similar enterprises. The Statistician General was always on ground to visit and attend to issues arising from any proprietor and management of various establishments instantaneously. In some instances, phone calls were made for information clarifications. To intimate the respondents with the importance of the SGDP exercise, jingles were produced and relayed in three electronic media in the State viz BSES, Radio Nigeria and Voice F.M. All these contributed in no small measure to the success recorded as there were no major issues during data analysis. 2.7 METHOD USED FOR ELICITING INFORMATION The hybrid approach was adopted for the compilation of data for the State GDP exercise. The approach combines both the Bottom-Up and Top-down methods with more emphasis on bottom-up approach. The bottom-up approach which involves sourcing the data required at Local Government and State Levels is the best method recommended for computation of SGDP. This method was therefore supplemented where the data could not be easily sourced at the State level. It should be understood that there are some data that cut across States of the Country and can only be distributed to States from National data on State ratios. In such instances the option available is to use the indirect method also known as Top-down approach to gather the data which are later disaggregated to State level using appropriate State ratios for such activities. The records of telecommunications, financial institutions, insurance and the likes fall into the category. Table 2.1 METHOD USED FOR ELICITING INFORMATION S/No ACTIVITY SECTOR METHOD USED 1 Crop Production Direct Method (Bottom-up) 2 Livestock Direct Method (Bottom-up) 3 Forestry Direct Method (Bottom-up) 4 Fishing Direct Method (Bottom-up) 5 Crude Petroleum and Natural Gas Not Available 6 Coal Mining Not Available 7 Metal Ores Not Available 8 Quarrying and Other Minerals Direct Method (Bottom-Up) 9 Oil Refining Not Available
  17. 17. 17 10 Cement Direct Method (Bottom-Up) 11 Food, Beverage and Tobacco Direct Method (Bottom-Up) 12 Textile, Apparel and Footwear Direct Method (Bottom-up) 13 Chemical and Pharmaceutical Products Direct Method (Bottom-up) 14 Pulp, Paper and Paper Products Direct Method (Bottom-up) 15 Wood and Wood Products Direct Method (Bottom-up) 16 Non-Metallic Products Direct Method (Bottom-up) 17 Plastic and Rubber products Direct Method (Bottom-up) 18 Basic Metal, Iron and Steel Direct Method (Bottom-up) 19 Motor Vehicles & Assembly Indirect Method (Top-Down) 21 Other Manufacturing Direct Method (Bottom-Up) 22 Electricity, gas, steam and air conditioning supply Not Available 23 Water supply, sewerage, waste management and remediation Direct Method (Bottom-up) 24 Non-Metallic Products Direct Method (Bottom-up) 25 Construction Direct Method (Bottom-Up) 26 Trade Direct Method (Bottom-Up) 27 Accommodation and Food services Direct Method (Bottom-up) 28 Road Transport Direct Method (Bottom-up) 28 Rail Transport & Pipelines Not Available 29 Water Transport Not Available 30 Air Transport Not Available 31 Transport Services Indirect Method (Top-down) 32 Post and Courier Services Indirect Method (Top-down) 33 Telecommunications Indirect Method (Top-down) 34 Publishing Direct Method (Bottom-Up) 35 Motion Pictures, Sound Recording and Music Production Direct Method (Bottom-Up) 36 Broadcasting Direct Method (Bottom-Up) 37 Arts, Entertainment and Recreation Direct Method (Bottom-Up) 38 Financial Institutions Indirect Method (Top-down) 39 Insurance Indirect Method (Top-down) 40 Real estate Direct Method (Bottom-Up) 41 Professional, Scientific and Technical Services Direct Method (Bottom-up) 42 Administrative & Support Services Direct Method (Bottom-up) 43 Public Administration Direct Method (Bottom-Up) 44 Education Direct Method (Bottom-Up) 45 Human Health and Social Services Direct Method (Bottom-up) 46 Other Services Direct Method (Bottom-up)
  18. 18. 18 2.8 DATA ANALYSIS AND REPORT WRITING The first stage of data inputting and analysis was done at the National Bureau of Statistics using CSPRO and Ms Excel softwares. The first stage of the analysed data were forwarded to the State after 3 months of field work completion. Further analysis was done by Ekiti State Bureau of Statistics after which the report was produced. The report was strengthened with charts and info-graphics. The report was presented in six (6) chapters covering Ekiti State Profile and General Economic Outlook, Methodology, Ekiti State GDP Sector Analysis/Other Key indicators, Sector Analysis of State GDP per Capita, comparative SGDP/Sector Analysis for selected South-West States and Nigeria and finally conclusion which covers observations, challenges and recommendation. It should also be stressed that the report contains Executive Summary and Appendix which contain some other State Data.
  19. 19. 19 CHAPTER THREE SECTORAL ANALYSIS OF EKITI STATE GDP In this chapter, attention is focused on the trend analysis of Ekiti State Gross- Domestic Product (SGDP), 2013-2017, growth rate within the period and activity sector contribution to GDP rates. 3.1 SGDP TREND ANALYSIS The GDP-value added using current basic prices based on production approach for the State was ₦879,926.40million translating to ₦879.93 billion in 2013. The value increased to ₦936.26 billion in 2014, ₦1,225.22 billion in 2015, ₦1,369.40 billion in 2016 and ₦1,390.02 billion in 2017. The figures reflected annual growth rates of 6.40% in 2014, 30.86% in 2015, 11.77% in 2016 and only 1.51% in 2017. See table 3.1 and fig 3.1. TABLE 3.1 TREND ANALYSIS OF EKITI STATE GROSS DOMESTIC PRODUCT (SGDP 2013-2017) – CURRENT BASIC PRICES YEAR 2013 2014 2015 2016 2017 GDP/VA (CBPs) IN MILLION NAIRA 879,926.40 936,255.49 1,225,223.08 1,369,403.18 1,390,019.59 ANNUAL PERCENTAGE GROWTH RATE 6.40 30.86 11.77 1.51 CBPs – GDP Based on Current Basic Prices 3.2 SGDP SECTOR ANALYSIS It is also observed from tables 3.2 and 3.3 that Agriculture which contributed as much as ₦406.42 billion (46.2%) in 2013 to the State GDP, dropped to ₦371.14billion (39.6%) in 2014. However, the contribution from the sector increased astronomically to ₦516.7 billion (42.2%) in 2015 and further to ₦569.10 (41.6%) in 2016 but dropped
  20. 20. 20 marginally to ₦555.06 billion in 2017 accounting for (39.9%) of the total State GDP in the year. The tables also revealed that industry sector contributed the least to the total State GDP throughout the years 2013 to 2017. For instance, industry contributed ₦121.63 billion in 2013 representing 11.8% of the total State economy in that year. It recorded the highest figure in 2015 when ₦207.05 billion was the contribution from that sector which also accounted for 15.2% of the total SGDP in the year. There was not much difference in 2016 and 2017 when ₦192.11billion and ₦192.94 billion were the contributions to the State economy. The contribution accounted for 12.7 % and 12.5% of the SGDP for the two years respectively. Unlike the fluctuating growth rate recorded on agriculture and industry, the services sector recorded steady upward growth throughout the 5-year period. The amount contributed were as follows: ₦351.88 billion, ₦399.07 billion and ₦501.50 billion in years 2013, 2014 and 2015 while that of 2016 and 2017 stood at ₦608.20 billion and ₦642.02billion respectively. From the above, it could be deduced that the contribution of services sector ranged from 40.0% in 2013 to 47.6% in 2017. See tables 3.2 and 3.3 and fig 3.2 for details. TABLE 3.2 EKITI STATE GROSS DOMESTIC PRODUCT (CBPs) CLASSIFIED BY SECTORS IN MILLION NAIRA, 2013-2017 YEAR AGRICULTURE INDUSTRY SERVICES GDP/VA 2013 406,418.94 121,632.05 351,875.41 879,929.40 2014 371,138.75 166,049.51 399,067.23 936,255.49 2015 516,672.67 207,054.60 501,495.81 1,225,223.08 2016 569,100.33 192,107.47 608,195.38 1,369,403.18 2017 555,057.93 192,938.27 642,023.40 1,390,019.59
  21. 21. 21 TABLE 3.3 EKITI STATE GROSS DOMESTIC PRODUCT SHARES BY SECTORS, 2013-2017 YEAR AGRICULTURE INDUSTRY SERVICES TOTAL 2013 46.2 11.8 42.0 100 2014 39.6 15.2 45.2 100 2015 42.2 15.2 42.7 100 2016 41.6 12.7 45.8 100 2017 39.9 12.5 47.6 100 Table 3.4 shows clearly the breakdown of activities that constitute each of the sectors in line with International Standard Industrial Classification revised version 4.0 and their contributions. Specifically, crop production, livestock, forestry and fishing make up the Agriculture sector, with crop production being the dominant accounting for an average of 89% of economic output from the sector during the five-year period. In the case of industry, there are five major sub-sectors comprising of mining and quarrying; manufacturing; electricity, gas, steam and air-condition supply; water supply, sewerage, waste management and remediation as well as construction. It is necessary to point out that mining and quarrying are sub divided into crude petroleum and natural gas, coal mining, metal ores and quarrying / other mineral activities. It should be pointed out here that none of them is available in the State except quarrying and other minerals. Also manufacturing, sub-sector are made up of oil refining, cement, food beverage and tobacco, textile/apparel/footwear, wood/wood products and chemical/pharmaceutical products. Other activities in the manufacturing sub-sector are non-metallic products, plastic/rubber products, electrical/electronics, basic metal/iron and steel, motor vehicles and assembly as well as other manufacturing. Out of all the activities, it was only food; beverage and tobacco, textile, apparel and footwear activities that make significant contributions in the manufacturing sector to the
  22. 22. 22 state gross domestic product (SGDP) during the five-year period (2013 – 2017). It is equally note-worthy that oil refining and cement production were non-existent in the state talk less of contributing anything to the State economy. The service sector also covered 13 sub-sectors which are broken down into 22 activities. The subsectors are trade, accommodation/food service, transportation/storage, information/communication, art/entertainment/recreation, financial/insurance and real estate. Others in the service sector are professional/scientist/technical services, administrative/support services, public administration, education, human health/social services and other services. It is germane to note that transportation and storage are broken down into the following activities: i. Road transport ii. Rail transport and pipeline iii. Water transport iv. Air transport v. Transport service and vi. Post and courier services Out of the six activities under transportation and storage, only three were in existence and covered in the SGDP computation. They were road transport, transport services and post/currier services. The contribution of the three activities were not so significant in the sense that none contributed up to 0.6 percent to the State GDP. Information and communication were also broken down into 4 other activities comprising of telecommunications, publishing, motion picture/sound recording/music production and broadcasting. In all, only telecommunication made very impressive contribution of between 5.82% - 7.66% to the State GDP throughout the five years covered in this report although broadcasting too made some impacts ranging from 1.49% to 1.88% to the State GDP Under financial and insurance, the two activities covered were financial institutions and insurance companies none of which made contribution of up to 10% to the State GDP in the five-year period. The other activities under service sector with remarkable contributions to SGDP were trade (18.56%-22.37%) professional, scientific and technical services (2.74%-6.61%) and education (2.11%-2.42%). See tables 3.4 and 3.5 for details. It is necessary to point out here that each of the activities considered in the computation of the State GDP are further analysed below.
  23. 23. 23 TABLE 3.4. GROSS DOMESTIC RPODUCT OF EKITI STATE BY SECTORS AND ACTIVITIES AT CURRENT BASIC PRICE (=N=MILLION) SECTOR SUB SECTOR ACTIVITIES 2013 2014 2015 2016 2017 AGRICULTURE 1. Crop Production 1. Crop Production 361,708.09 322,446.19 465,095.63 504,876.02 491,238.78 2. Livestock 2. Livestock 5,657.72 6,238.09 6,810.13 15,665.00 10,678.80 3. Forestry 3. Forestry 35,732.47 38,534.25 41,502.47 44,139.61 47,980.55 4. Fishing 4. Fishing 3,320.65 3,920.22 3,264.44 4,419.70 5,159.80 AGRICULTURE SECTOR TOTAL 406,418.94 371,138.75 516,672.67 569,100.33 555,057.93 INDUSTRY MINING AND QUARRYING 5. Crude Petroleum and Natural Gas - - - - - 6. Coal Mining - - - - - 7. Metal Ores - - - - - 8. Quarrying and Other Minerals 201.60 236.87 285.20 248.81 304.87 SUB TOTAL 201.60 236.87 285.20 248.81 304.87 MANUFACTURING 9. Oil Refining - - - - - 10. Cement - - - - - 11. Food, Beverage and Tobacco 45,502.18 98,900.62 131,521.10 105,130.62 106,229.86 12. Textile, Apparel and Footwear 36,197.40 22,564.25 22,029.55 35,670.56 28,165.79 13. Wood and Wood Products 13,061.43 13,131.03 16,687.90 14,529.80 19,594.34 14. Pulp, Paper and Paper Products 1,328.76 1,288.62 2,735.42 1,237.25 2,621.83 15. Chemical and Pharmaceutical Products 1,330.62 2,362.37 3,125.53 4,315.35 3,360.09 16. Non-Metallic Products 2,631.89 4,348.34 4,463.47 6,214.46 5,800.83 17. Plastic and Rubber products 1,239.19 1,394.80 3,425.62 2,453.33 5,559.25 18. Electrical and Electronics 58.84 43.23 46.67 46.54 54.91 19. Basic metal , Iron and Steel 1,505.83 1,762.24 594.14 2,868.42 710.57 20. Motor vehicles & assembly 2.86 3.08 3.84 3.28 2.77 21. Other Manufacturing 649.20 1,196.43 1,276.18 1,035.61 1,116.49 SUB TOTAL 103,508.20 146,995.02 185,909.43 173,505.21 173,216.72 ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY 22. ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY - - - - - WATER SUPPLY, SEWERAGE, WASTE MANAGEMENT AND REMEDIATION 23. WATER SUPPLY,SEWERAGE, WASTE MANAGEMENT AND REMEDIATION 1,335.91 1,974.53 2,182.83 2,721.70 3,495.79 CONSTRUCTION 24. CONSTRUCTION 16,586.33 16,843.08 18,677.14 15,631.74 15,920.88 INDUSTRY SECTOR TOTAL 121,632.05 166,049.51 207,054.60 192,107.47 192,938.27 TABLE 3.4. GROSS DOMESTIC RPODUCT OF EKITI STATE BY SECTORS AND ACTIVITIES AT CURRENT BASIC PRICE (=N=MILLION) contd
  24. 24. 24 SECTOR SUB SECTOR ACTIVITIES 2013 2014 2015 2016 2017SERVICES TRADE 25. TRADE 163,287.02 187,135.01 237,980.01 273,438.19 310,893.36 ACCOMMODATION AND FOOD SERVICES 26. ACCOMMODATION AND FOOD SERVICES 3,191.37 3,364.01 4,166.97 4,240.76 4,378.47 TRANSPORTATION AND STORAGE 27. Road Transport 4,080.76 5,543.18 14,708.00 10,829.58 14,511.43 28. Rail Transport & Pipelines - - - - - 29. Water Transport - - - - - 30. Air Transport - - - - - 31. Transport Services 205.29 305.80 873.74 624.33 778.33 32. Post and Courier Services 264.52 290.87 329.79 343.46 243.98 SUB TOTAL 4,550.57 6,139.86 15,911.54 11,797.38 15,533.74 INFORMATION AND COMMUNICATION 33.Telecommunications 62,288.58 71,679.88 76,731.07 79,690.66 81,056.91 34. Publishing, 176.58 214.05 256.55 232.54 199.92 34. Motion Pictures, Sound recording and Music production 6,468.37 7,036.60 7,976.61 78,081.82 8,064.10 36. Broadcasting 13,102.14 15,803.03 20,492.90 23,891.71 26,153.06 SUB TOTAL 82,035.68 94,733.56 105,457.13 181,896.73 115,474.00 ARTS, ENTERTAINMENT AND RECREATION 37.ARTS, ENTERTAINMENT AND RECREATION 332.82 441.68 584.32 596.16 679.09 FINANCIAL AND INSURANCE 38. Financial Institutions 6,873.99 6,754.49 8,926.91 9,514.73 9,983.31 39. Insurance 3,315.27 4,238.26 4,558.50 5,440.09 5,653.45 SUB TOTAL 10,189.26 10,992.76 13,485.41 14,954.82 15,636.76 REAL ESTATE 40. REAL ESTATE 12,940.18 14,119.99 17,033.81 17,027.65 17,139.55 PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES 41. PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES 29,650.16 29,107.50 48,602.84 37,481.03 91,899.29 ADMINISTRATIVE & SUPPORT SERVICES 42. ADMINISTRATIVE & SUPPORT SERVICES 280.36 330.55 361.52 357.79 454.26 PUBLIC ADMINISTRATION 43. PUBLIC ADMINISTRATION 18,982.22 20,287.06 19,238.67 21,701.90 22,425.25 EDUCATION 44. EDUCATION 18,968.61 22,656.80 25,845.28 30,591.74 32,043.90 HUMAN HEALTH AND SOCIAL SERVICES 45. HUMAN HEALTH AND SOCIAL SERVICES 2,774.36 3,337.07 3,677.64 4,016.35 4,237.86 OTHER SERVICES 46. OTHER SERVICES 4,692.82 6,421.38 9,150.67 10,094.88 11,227.86 SERVICES SECTOR TOTAL 351,875.41 399,067.23 501,495.81 608,195.38 642,023.40 OVERALL GDP CURRENT BASIC PRICE 879,926.40 936,255.49 1,225,223.08 1,369,403.18 1,390,019.59
  25. 25. 25 TABLE 3.5 GROSS DOMESTIC RPODUCT OF EKITI STATE BY SECTORS AND ACTIVITIES AT CURRENT BASIC PRICE (IN %) SECTOR SUB SECTOR ACTIVITIES 2013 2014 2015 2016 2017 AGRICULT URE 1. Crop Production 1. Crop Production 41.11 34.44 37.96 36.87 35.34 2. Livestock 2. Livestock 0.64 0.67 0.56 1.14 0.77 3. Forestry 3. Forestry 4.06 4.12 3.39 3.22 3.45 4. Fishing 4. Fishing 0.38 0.42 0.27 0.32 0.37 AGRICULTURE SECTOR TOTAL % 46.19 39.64 42.17 41.56 39.93 INDUSTRY MINING AND QUARRYING 5. Crude Petroleum and Natural Gas 0.00 0.00 0.00 0.00 0.00 6. Coal Mining 0.00 0.00 0.00 0.00 0.00 7. Metal Ores 0.00 0.00 0.00 0.00 0.00 8. Quarrying and Other Minerals 0.02 0.03 0.02 0.02 0.02 SUB TOTAL % 0.02 0.03 0.02 0.02 0.02 MANUFACTURING 9. Oil Refining 0.00 0.00 0.00 0.00 0.00 10. Cement 0.00 0.00 0.00 0.00 0.00 11. Food, Beverage and Tobacco 5.17 10.56 10.73 7.68 7.64 12. Textile, Apparel and Footwear 4.11 2.41 1.80 2.60 2.03 13. Wood and Wood Products 1.48 1.40 1.36 1.06 1.41 14. Pulp, Paper and Paper Products 0.15 0.14 0.22 0.09 0.19 15. Chemical and Pharmaceutical Products 0.15 0.25 0.26 0.32 0.24 16. Non-Metallic Products 0.30 0.46 0.36 0.45 0.42 17. Plastic and Rubber products 0.14 0.15 0.28 0.18 0.40 18. Electrical and Electronics 0.01 0.00 0.00 0.00 0.00 19. Basic metal , Iron and Steel 0.17 0.19 0.05 0.21 0.05 20. Motor vehicles & assembly 0.00 0.00 0.00 0.00 0.00 21. Other Manufacturing 0.07 0.13 0.10 0.08 0.08 SUB TOTAL % 11.76 15.70 15.17 12.67 12.46 ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY 22. ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY 0.00 0.00 0.00 0.00 0.00 WATER SUPPLY,SEWERAGE, WASTE MANAGEMENT AND REMEDIATION 23. WATER SUPPLY,SEWERAGE, WASTE MANAGEMENT AND REMEDIATION 0.15 0.21 0.18 0.20 0.25 CONSTRUCTION 24. CONSTRUCTION 1.88 1.80 1.52 1.14 1.15 INDUSTRY SECTOR TOTAL % 13.73 17.73 16.89 14.03 13.88
  26. 26. 26 TABLE 3.5 GROSS DOMESTIC RPODUCT OF EKITI STATE BY SECTORS AND ACTIVITIES AT CURRENT BASIC PRICE (IN %) contd SECTOR SUB SECTOR ACTIVITIES 2013 2014 2015 2016 2017 SERVICES TRADE 25. TRADE 18.56 19.99 19.42 19.97 22.37 ACCOMMODATION AND FOOD SERVICES 26. ACCOMMODATION AND FOOD SERVICES 0.36 0.36 0.34 0.31 0.31 TRANSPORTATION AND STORAGE 27. Road Transport 0.46 0.59 1.20 0.79 1.04 28. Rail Transport & Pipelines 0.00 0.00 0.00 0.00 0.00 29. Water Transport 0.00 0.00 0.00 0.00 0.00 30. Air Transport 0.00 0.00 0.00 0.00 0.00 31. Transport Services 0.02 0.03 0.07 0.05 0.06 32. Post and Courier Services 0.03 0.03 0.03 0.03 0.02 SUB TOTAL 0.52 0.66 1.30 0.86 1.12 INFORMATION AND COMMUNICATION 33. Telecommunications 7.08 7.66 6.26 5.82 5.83 34. Publishing, 0.02 0.02 0.02 0.02 0.01 34. Motion Pictures, Sound recording and Music production 0.74 0.75 0.65 5.70 0.58 36. Broadcasting 1.49 1.69 1.67 1.74 1.88 SUB TOTAL 9.32 10.12 8.61 13.28 8.31 ARTS, ENTERTAINMENT AND RECREATION 37.ARTS, ENTERTAINMENT AND RECREATION 0.04 0.05 0.05 0.04 0.05 FINANCIAL AND INSURANCE 38. Financial Institutions 0.78 0.72 0.73 0.69 0.72 39. Insurance 0.38 0.45 0.37 0.40 0.41 SUB TOTAL 1.16 1.17 1.10 1.09 1.13 REAL ESTATE 40. REAL ESTATE 1.47 1.51 1.39 1.24 1.23 PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES 41. PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES 3.37 3.11 3.97 2.74 6.61 ADMINISTRATIVE & SUPPORT SERVICES 42. ADMINISTRATIVE & SUPPORT SERVICES 0.03 0.04 0.03 0.03 0.03 PUBLIC ADMINISTRATION 43. PUBLIC ADMINISTRATION 2.16 2.17 1.57 1.58 1.61 EDUCATION 44. EDUCATION 2.16 2.42 2.11 2.23 2.31 HUMAN HEALTH AND SOCIAL SERVICES 45. HUMAN HEALTH AND SOCIAL SERVICES 0.32 0.36 0.30 0.29 0.30 OTHER SERVICES 46. OTHER SERVICES 0.53 0.69 0.75 0.74 0.81 SERVICES SECTOR TOTAL % 40.00 42.60 40.94 44.4 46.19 OVERALL GDP CURRENT BASIC PRICE % 100.00 100.00 100.00 100.00 100.00
  27. 27. 27 3.21 Crop Production Under Agriculture Sector, crop production as shown in table 3.4 and fig 3.4 was found to produce as much as ₦361.71 billion in 2013 but this figure declined by 10.85% in 2014. Crop production however, recorded remarkable annual growth of 44.24% in 2015 translating to GDP value of ₦465.10 billion. It increased further by 8.55% to N504,88 billion in 2016 but declined by 2.70% to N491.24 billion in 2017. Also, in 2013, crop production accounted for over 41% of the State GDP while the contribution ranged between 34.44% and 37.96% in the years (i.e 2014-2017) that follow. TABLE 3.4 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF CROP PRODUCTION IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA (CBPs) 361,708.09 322,446.19 465,095.63 504,876.02 491.238.78 % ANNUAL GROWTH RATE - -10.85 44.24 8.55 -2.70 % SHARE OF THE STATE GDP 41.11 34.44 37.96 36.87 35.34 3.22 Livestock The contribution of livestock was not as much as that of crop as it ranged from ₦5.66 billion in 2013 to ₦15.67 billion in 2016 being the highest during the 5 year period. The highest annual growth rate of 130.02 % was recorded in 2016 over that of 2015. Except for 2017 where growth rate of 31.84% was recorded, the other years’ growth rate fell below 11%. There was equally no year when livestock contributed up to 1% of the SGDP except in 2016. (Table 3.7 and fig 3.5) TABLE 3.7 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF LIVESTOCK IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017
  28. 28. 28 GDP-VA (CBPs) 5,657.72 6,238.09 6,810.13 15,665.00 10,678.80 % ANNUAL GROWTH RATE - 10.26 9.17 130.02 31.84 % SHARE OF THE STATE GDP 0.64 0.67 0.56 1.4 0.77 3.23 Forestry The value added by forestry was much more than that of livestock and fishing throughout the period under examination i.e 2013 to 2017 (Table 3.8). The contribution of the forestry grew steadily from ₦35.73 billion in 2013 to ₦38.53 billion in 2014 and as high as ₦47.98 billion in 2017. The figures therefore revealed growth rates of 7.84% in 2014, 7.7% in 2015, 6.35% in 2016 and 8.70% in 2017. TABLE 3.8 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF FORESTRY IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA (CBPs) 35,732.14 38,534.25 41,502.47 44,139.61 47,980.55 % ANNUAL GROWTH RATE - 7.84 7.70 6.35 8.70 % SHARE OF THE STATE GDP 4.06 4.12 3.39 3.22 3.45
  29. 29. 29 3.24 Fishing On account of fishing, the total value contributed to the State economy ranged from ₦3.32 billion in 2013 to ₦5.52 billion in 2017. The least value was recorded in 2015 with the contribution of ₦3.26 billion. Beside the negative annual growth rate of about 17% in year 2015, the other years between 2014 and 2017 recorded growth rate within the range of 16.75% and 35.39%. Throughout the five-year period, the amount contributed by fishing to the State’s economy was not up to 0.5% as shown in table 3.9. TABLE 3.9 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF FISHING IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 3,320.65 3,920.22 3,264.44 4,419.70 5,5159.80 % ANNUAL GROWTH RATE 18.06 -16.73 35.39 16.75 % SHARE OF THE STATE GDP 0.38 0.42 0.27 0.32 0.02 3.25 Mining and Quarrying Sector In the mining and quarrying sector, the gross output was only determined for quarrying and other mineral activities since there were no activities or exploration of crude petroleum and natural gas, coal mining and metal ores in the State. The activity covers quarrying of stone and sand. A series of problem was encountered why eliciting information during the field work for this activity in the sense that most of the quarry companies were not functioning due to low patronage by government at the period. Even some of those that were functioning, they could not provide information within the period of the survey as the Managing Directors were said to be away and would not be back until the completion of the general elections after which the fieldwork would have been completed. Above notwithstanding, the gross output was estimated based on the companies that responded to our questionnaires which revealed the contribution of between ₦0.20 billion and ₦0.30 billion for each of the 5-year period. For instance, the gross domestic output in 2013 was ₦0.20 billion as against ₦0.29 billion in 2015 and ₦0.30 billion in 2017. During the period there was an annual growth rate of between 17.50% and
  30. 30. 30 22.53% except for year 2016 when a negative growth rate of 12.76% was recorded. The amount contributed by this sector was not so significant. See table 3.8 and fig 3.10 below. TABLE 3.10 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF QUARRYING AND OTHER MINERALS IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 201.60 236.87 285.20 248.81 304.87 % ANNUAL GROWTH RATE - 17.50 20.43 -12.76 22.53 % SHARE OF THE STATE GDP 0.02 0.03 0.02 0.02 0.02 3.26 Manufacturing Sector The activities under manufacturing sector include oil refining, cement production, food, beverage & tobacco, textile, apparel & footwear, wood & wood products, pulp paper & paper products, chemical & pharmaceutical products as well as non-metallic products. Others are plastic & rubber products, electrical & electronics, basic metal, iron & steel and motor vehicles & assembly. There was a steady growth in the contribution of the manufacturing sector from 2013 to 2015 being ₦103.51 billion to ₦185.91 billion which declined to an average of about ₦173 billion in the two succeeding years. Specifically, the annual growth rates of 42.01 % and 26.47% were witnessed in 2014 and 2015 as against a negative growth of 6.67% and 0.16% in 2016 and 2017 respectively. See table 3.11 and the chart below. It should be noted that significant contribution to gross –output in manufacturing sector were recorded on food, beverages & tobacco, textile, apparel & footwear as well as wood and wood products. TABLE 3.11 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF MANUFACTURING IN EKITI GDP, 2013-2017
  31. 31. 31 YEAR 2013 2014 2015 2016 2017 GDP-VA 103,508.20 146,995.02 185,909.43 173,505.21 173,216.72 % ANNUAL GROWTH RATE - 42.01 26.47 -6.67 -0.16 % SHARE OF THE STATE GDP 11.76 15.70 15.17 12.67 12.46 3.27 Food, Beverages & Tobacco As indicated in table 3.12, the gross value added to the State GDP from these activities stood at ₦45.50 billion in 2013 and increased significantly to as much as ₦98.90 billion and further to N131.52 billion in 2014 and 2015 respectively. However, the gross output from the activities dropped to ₦105.13 billion and increased marginally to ₦106.23 billion in the respective years 2016 and 2017. The growth translated to percentage annual increase of 117.4% in 2014 and 32.98% in 2015 while a decline of 20.07% was witnessed in 2016. The contribution of food, beverages and tobacco to the State GDP fell within 7.64% and 10.73% except in 2013 when it was about 5% TABLE 3.12 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF FOOD BEVERAGE & TOBACCO IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 45,502.18 98,900.62 131,521.10 105,130.62 106,229.86 % ANNUAL GROWTH RATE 117.35 32.98 -20.07 1.046 % SHARE OF THE STATE GDP 5.17 10.56 10.73 7.68 7.64
  32. 32. 32 3.28 Textile, Apparel and Footwear It is noted that the gross domestic value added for textile, apparel and footwear was N36.20 billion in 2013 but negative growths were recorded in the two succeeding years before jumping up to N35.67 billion in 2016 and another negative growth of 21.04% in 2017. Table 3.11 and fig 3.13 showed the trend analysis and the share of the activity in the State GDP within the 5 year period examined. TABLE 3.13 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF TEXILE, APPAREL & FOOTWEAR IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 36,197.40 22,564.25 22,029.55 35,670.56 28,165.79 % ANNUAL GROWTH RATE -37.66 -2.37 61.92 -21.04 % SHARE OF THE STATE GDP 4.11 2.11 1.80 2.60 2.03 3.29 Wood and Wood Products
  33. 33. 33 Wood and wood products form another activity under manufacturing sector where notable contribution to the State’s economy was envisaged. The contribution is expected to be more than the recorded value due to abundance of timber in the State that can fastrack its utilization for furniture and associated products. The issue of using the woods fell in the State within or outside the State is a subject of further investigation. From the result of the Survey carried out, the contribution from this activity Sector annually ranged from ₦13 billion to over ₦19 billion. While a growth rate of 0.53%, 27.09% and 34.86% were recorded in years 2014, 2015 and 2017 respectively a negative growth of 12.93% was observed in 2016. See table 3.14 and fig 3.12 for more information. TABLE 3.14 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF WOOD AND WOOD PRODUCTS IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 13,061.43 13,131.03 16,687.90 14,529.80 19,594.34 % ANNUAL GROWTH RATE 0.53 27.09 -12.93 34.86 % SHARE OF THESTATE GDP 0.03 0.03 0.03 0.03 0.02 3.30 Other Areas in Manufacturing Sector. To have an idea of the contributions of some other activities under Manufacturing Sector, see tables 3.13 to table 3.20 3.15 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF PULP, PAPER PRODUCTS IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 1,328.76 1,288.62 2,735.42 1,237.25 2,621.83 % ANNUAL GROWTH RATE -3.02 112.3 -54.77 111.91 % SHARE OF THE STATE GDP 0.15 0.14 0.22 0.09 0.19
  34. 34. 34 3.16 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF CHEMICAL AND PHARMACEUTICAL PRODUCTS IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 1,330.62 2,362.37 3,125.53 4,315.35 3360.09 % ANNUAL GROWTH RATE 77.54 32.30 38.07 -22.14 % SHARE OF THE STATE GDP 0.15 0.25 0.26 0.32 0.24 3.17 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF NON METALLIC PRODUCTS IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 2,631.89 4,348.34 4,463.47 6,214.46 5,800.83 % ANNUAL GROWTH RATE 65.22 2.65 39.23 -6.66 % SHARE OF THE STATE GDP 0.30 0.46 0.36 0.45 0.42 3.18 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF PLASTIC AND RUBBER PRODUCTS IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 1,239.19 1,394.80 3,425.62 2,453.33 5,559.25 % ANNUAL GROWTH RATE 12.56 145.59 -28.38 126.60 % SHARE OF THE STATE GDP 0.14 0.15 0.28 0.18 0.40 3.19 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF ELECTRICAL AND ELECTRONICS IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 58.84 43.23 46.67 46.54 54.91 % ANNUAL GROWTH RATE -26.53 7.96 -0.28 17.86 % SHARE OF THE STATE GDP 0.01 0.00 0.00 0.00 0.00 3.20 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF BASIC METAL, IRON AND STEEL IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 1,505.83 1,762.24 594.14 2,868.42 710.57 % ANNUAL GROWTH RATE 17.03 -16.28 382.79 -75.23 % SHARE OF THE STATE GDP 0.17 0.19 0.05 0.21 0.05 3.21 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF MOTOR VEHICLES & ASSEMBLY IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017
  35. 35. 35 GDP-VA 2.86 3.08 3.84 3.28 2.77 % ANNUAL GROWTH RATE 7.69 24.68 -14.58 -15.55 % SHARE OF THE STATE GDP 0.00 0.00 0.00 0.00 0.00 3.22 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF OTHER MANUFACTURING IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 649.20 1,196.43 1,276.18 1,035.61 1,116.49 % ANNUAL GROWTH RATE 84.29 6.67 -18.85 7.81 % SHARE OF THE STATE GDP 0.07 0.13 0.10 0.08 0.08 3.31 ELECTRICITY, GAS, STEAM AND AIR CONDITIONING This covers the generation, transmission and distribution of electricity for sale to households, industries and commercial users. This activity as well as that of Gas, Steam and air-conditioning were not available in the State hence no data was included in the computation of the State GDP. 3.32 ELECTRICAL AND ELECTRONICS The gross output from electrical and electronics was about N0.059billion in 2013 and dropped to N0.047billion in 2014. Thereafter, it increased to over N0.046billion until it reached N0.059billion in 2017. The contribution from this activity had little or no impact on the economy. Table 3.23 and fig 3.13 TABLE 3.23 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF ELECTRICAL AND ELECTRONICS IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 58.84 43.23 46.67 46.54 54.91 % ANNUAL GROWTH RATE -26.53 7.96 -0.28 17.86 % SHARE OF THE STATE GDP 0.01 0.00 0.00 0.00 0.00
  36. 36. 36 3.33 WATER SUPPLY, SEWERAGE, WASTE MANAGEMENT AND REMEDIATION The contributions of water supply, sewerage, waste management and remediation to the State gross output grew steadily from 2013 to 2017 as shown in table 3.21. While a total value of ₦1.34billion was observed to be the contribution to the State GDP in 2013, it increased to ₦1.97billion, ₦2.18billion, ₦2.72billion and further to ₦3.50billion in 2014, 2015, 2016 and 2017 respectively. See the table and graph below for trend analysis. It was in year 2014 that the highest annual increase was recorded being 47.8%. Other annual increase ranged between 10.55% and 28.44%. The contributions of these groups of activities are not so impressive. TABLE 3.24 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF WATER SUPPLY, SEWERAGE, WASTE MANAGEMENT AND REMEDIATION IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 1,335.91 1,974.53 2,182.83 2,721.70 3,495.79 % ANNUAL GROWTH RATE 47.80 10.55 24.69 28.44 % SHARE OF THE STATE GDP 0.15 0.21 0.18 0.20 0.25
  37. 37. 37 3.34 CONSTRUCTION The construction Industry also covers site preparation, road construction, building or complete construction or parts thereof, civil engineering, building installations, renting of construction or demolition equipment and operators. The contribution of this sector to the State economy ranged between over ₦15billion to less than ₦19billion. Notably, a sum of gross output of ₦16.59 billion was contributed in 2013 which increased marginally to ₦16.84billion in 2014 and further to ₦18.68 billion in 2015, before it declined to N15.63billion and N15.92billion in 2016 and 2017 respectively. The growth rate which was only 1.55% in 2014 jumped to 10.98% in 2015 and fell by 16.31% in 2016 before rising marginally by 1.85% in 2017. Further details are shown in table 3.25 and fig 3.15 TABLE 3.25 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF CONSTRUCTION IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 16,586.33 16,843.08 18,677.14 15,631.74 15,920.88 % ANNUAL GROWTH RATE 1.55 10.89 -16.31 1.85 % SHARE OF THE STATE GDP 1.88 1.80 1.52 1.14 1.15
  38. 38. 38 3.35 TRADE This activity encompasses wholesale and retail of goods and services. The share of this sector in the SGDP was so significant being as much as ₦163.29 billion and ₦187.14 billion in 2013 and 2014 respectively. The figures increased progressively until 2017 when a sum of gross output of ₦310.89 billion was achieved. The percentage contribution of this activity ranged between 19.42% and 22.37% annually from years 2014 to 2017 except in 2013 where a contribution of 18.56% from this activity to the State GDP was witnessed. See table 3.26 for details and also the chart below. TABLE 3.26 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF TRADE IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 163,287.02 187,135.01 237,980.01 273,438.19 310,893.36 % ANNUAL GROWTH RATE 14.60 27.17 14.89 13.69 % SHARE OF THE STATE GDP 18.56 19.99 19.42 19.97 22.37 3.36 ACCOMODATION AND FOOD SERVICES
  39. 39. 39 Unlike what was witnessed in the trade sector, the contribution from accommodation and food services comprising of hotels, short stay accommodations, restaurants, bars and canteens among others witnessed abysmally low contribution to the State GDP. There was no year when the contribution was as high as 1%. In fact, the output from these activities put together fell below 0.5% in each of the years 2013 and 2015. Specifically, the amount contributed to the State GDP was ₦3.19 billion in 2013 and with the highest figure of ₦4.38 billion in 2017. Also, the annual growth rate recorded lies between 1.77% and 5.40% in the five year period of 2013 to 2017 except for year 2015 when the annual growth rate of almost 24% was recorded. See table 3.27 and fig 3.17 below for more information. 3.27 CONTRIBUTION AND PERCENTAGE GROWTH RATEOF ACCOMODATION AND FOOD SERVICES TO STATE GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 3,191.37 3,364.01 4,166.97 4,240.76 4,378.47 %ANNUAL GROWTH RATE - 5.40 23.87 1.77 3.25 % SHARE OF THE STATE GDP 0.36 0.66 0.34 0.99 0.90 3.37 TRANSPORTATION AND STORAGE On this sub-sector, the contributions of road transport, rail transport & pipeline, water transport, air transport, transport services as well as post and courier services are expected to be examined. As at date, rail transport and air transport were absent in the State. It is hoped that in the nearest future, Ekiti may be witnessing a beehive of activities on rail and air transport if the Federal Government fulfill its plan to extend rail line to the State and the State Government plan of building an airport is fully realized. For now the contributions from transportation and storage to the State economy were only derived from road transport, transport services and post & courier services. From the report available, transportation and storage contributed a sum of ₦4.55 billion in 2013 which increased to over ₦6 billion in 2014 and skyrocketed to as much as
  40. 40. 40 ₦15.91 billion in 2016 when the highest value added was recorded. The amount recorded in 2015 dropped significantly by about 26% to ₦11.80 billion in 2016 before increasing again by over 31% to ₦15.53 billion in 2017. Throughout the period, the amount recorded here showed the contribution of within the range of 0.52% to 1.30% to the State GDP. The highest contribution of 1.30% was recorded in 2015. See table 3.28 and fig 3.18 below for details. TABLE 3.28 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF TRANSPORTATION AND STORAGE IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 4,550.57 6,139.54 15,911.54 11,797.38 15,533.74 % ANNUAL GROWTH RATE 34.93 159.15 -25.86 31.67 % SHARE OF THE STATE GDP 0.52 0.66 1.30 0.86 1.12 3.38 ROAD TRANSPORT As observed in table 3.29and figure 3.19, the highest contribution to transportation and storage in the State was from road transport. This is expected as it is the only option left to the State on transport with the absence of rail, air and water transports. Apart from years 2013 and 2014 where the total outputs were below ₦6 billion, other years recorded as high as over ₦14 billion except in 2016 when the gross value added was ₦10.83 billion. As shown in the table, as much as over 165% increase in the output from road transport was recorded in year 2015. TABLE 3.29 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF ROAD TRANSPORT IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017
  41. 41. 41 GDP-VA 4,080.76 5,543.18 14,708.00 10,829.58 14,511.43 % ANNUAL GROWTH RATE 35.84 165.34 -26.37 33.99 % SHARE OF THE STATE GDP 0.46 0.59 1.20 0.79 1.04 3.39 Transport Services This is the activity that deals with supporting system as well as provision of auxiliary transport services which covers cargo handling, storage and warehousing, activities of travel agencies and tour operators and the likes. Due to non-operational of rail, air and water transport, the operation of most of the transport services like cargo handling, forwarding and clearing agencies activities, warehousing were almost non-existent in the State. To this end, the contribution from this activity sector was as low as ₦0.21 billion in 2013 which increased to about ₦0.31 billion in 2014. It was only in the year 2015 that as much as ₦0.87billion was recorded. See table 3.30 and graph below for the trend analysis and growth rate. TABLE 3.30 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF TRANSPORT SERVICES IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 205.29 305.80 873.74 624.33 778.33 % ANNUAL GROWTH RATE 48.96 185.72 -28.55 24.67 % SHARE OF THE STATE GDP 0.02 0.03 0.07 0.05 0.06
  42. 42. 42 3.40 Post and Courier Services Just like it was experienced from transport services, the contribution of post and courier services to the gross domestic output from transportation and storage was equally not impressive. The contributions ranged between ₦0.24 billion to ₦0.34 billion throughout the 5-year period. See table 3.31 for the trend analysis and annual growth rate. TABLE 3.31 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF POST AND COURIER SERVICES IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 264.52 290.87 329.79 343.46 243.98 % ANNUAL GROWTH RATE 9.96 13.38 4.15 -28.96 % SHARE OF THE STATE GDP 0.03 0.03 0.03 0.03 0.02 3.41 INFORMATION AND COMMUNICATION The economic activities covered here include telecommunication, publishing, motion pictures, sound recording & motion pictures as well as broadcasting.
  43. 43. 43 In totality, there was a systematic growth in the output up to 2016 before a drop was experienced in 2017 (See table 3.32 and fig 3.22). The total GDP-VA which was ₦82billion in 2013 rose to ₦105.46billion in 2016 and further to ₦181.90billion in 2016 before dropping by 36.5% to ₦115.47billion in 2017. The highest growth rate was experienced in 2016 which was about 72.5%. The contribution from this sector also averaged about 10% to the SGDP. TABLE 3.32 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF INFORMATION AND COMMUNICATION IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 82,035.68 94,733.56 105,457.13 181,896.73 115,474.00 % ANNUAL GROWTH RATE 15.48 11.32 72.48 -36.52 % SHARE OF THE STATE GDP 9.32 10.32 8.61 13.28 8.31 3.42 TELECOMMUNICATIONS AND INFORMATION SERVICES The highest contributor to the information and communication sub-sector was telecommunications. This activity comprises of enterprises rendering communication services to the economy. It covers activities of land phone and GSM operators like MTN, Airtel, Glo, etc. The major source of data for the activity is the annual reports of the telecommunication establishments in Nigeria and survey of telecom companies. There was an upward growth recorded in this activity though in a declining rate. The contribution of this economic activity which was ₦62.79billion in 2013 increased to ₦76.73billion in 2015 and to as much ₦81.06billion in 2017. While the annual growth recorded in 2014 against 2013 was 15.08% that of 2016 and 2017 were 3.86% and 1.71% respectively. The contributions of this activity to the State GDP within the 5-year period ranged from 5.82% to 7.66%. See more information in the table below (Table 3.33) which was further expressed in fig 3.23.
  44. 44. 44 TABLE 3.33 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF TELECOMMUNICATIONS AND INFORMATION SERVICES IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 62,788.58 71,679.88 76,731.07 79,690.66 81,056.91 % ANNUAL GROWTH RATE 15.08 7.05 3.86 1.71 % SHARE OF THE STATE GDP 7.08 7.66 6.26 5.82 5.83 3.43 PUBLISHING The activity of publishing covers books and directories, publishing mailing lists, publishing of newspapers, periodicals and journals as well as software publishing. The contribution of this activity to the State GDP was small as not much of the activities are going on in the State. For now, most of the Nigeria newspapers are not being published in Ekiti State. The contribution of the activity to the State GDP ranged from 0.01% to 0.02% indicating that not more than ₦2:00 in every ₦10,000:00 is being contributed by publishing to the State economy. In fact, there was no year out of the 5 years covered that as much as ₦260 million was generated to the State economy through publishing. See table 3.34 and fig 3.24 below for details.
  45. 45. 45 TABLE 3.31 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF PUBLISHING IN EKITI GDP, 2013- 2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 176.58 214.05 256.55 232.54 199.92 % ANNUAL GROWTH RATE 21.22 19.86 -9.36 -14.03 % SHARE OF THE STATE GDP 0.02 0.02 0.02 0.02 0.01 3.44 MOTION PICTURES, SOUND RECORDING AND MUSIC PRODUCTION This comprises of motion pictures, video, television programme and sound recording activities. These economic activities put together contributed within a range of about ₦6.5 billion and ₦8.1 billion between 2013 and 2017 except the unimaginable figure of about ₦78.1billion recorded in 2016. The contribution of these activities would have been less than 1% if not for the stupendous increase recorded in 2016 when as much as 5.7% of the State GDP share was contributed by these activities. The table 3.35 and FIG 3.25 below show more information on the trend analysis. TABLE 3.35 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF MOTION PICTURES, SOUND RECORDING AND MUSIC PRODUCTION IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 6,468.37 7,036.60 7,976.61 78,081.82 8,064.10 % ANNUAL GROWTH RATE 8.77 13.36 878.88 -89.67 % SHARE OF THE STATE GDP 0.74 0.75 0.65 5.70 0.58
  46. 46. 46 3.45 BROADCASTING This economic activity comprises of radio/ television programming and broadcasting activities {public and private}. The contribution of this activity was also very significant as it had been making appreciable progress since 2013. While a sum total of ₦13.10 billion was contributed in 2013, it increased to ₦20.49 billion in 2015 and further to ₦26.15 billion in 2017. The percentage increase oscillates within 9.5% and 29.7% during the five-year period. The percentage State share of broadcasting in the State GDP also ranged between 1.49% and 1.88%. See more information below. Table 3.36 and fig 3.26 TABLE 3.36 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF BROADCASTING IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 13,102.14 15,803 20,492.90 23,891.71 26,153.06 % ANNUAL GROWTH RATE 20.61 29.68 16.59 9.46 % SHARE OF THE STATE GDP 1.49 1.69 1.67 1.74 1.88 3.45 ARTS ENTERTAINMENT AND RECREATION
  47. 47. 47 The activities here have just been integrated into the GDP computation recently. It covers the following areas…… Gradually, a steady growth is being experienced in this activity sector. The contribution which was about ₦332.8 million in 2013 increased to over ₦679 million in 2017. It is hoped that the contribution from this activity will increase appreciably by the time the Civic Centre in Ado Ekiti is completed and Ikogosi warm spring fully revived again. For now, the contribution of the entertainment and recreation industry stood at between 0.04% and 0.05%. The table and chart below show more information (i.e table 3.37 and fig 3.27). TABLE 3.37 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF ARTS ENTERTAINMENT AND RECREATION IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 332.82 441.68 584.32 596.16 679.09 % ANNUAL GROWTH RATE 37.71 32.29 2.03 13.91 % SHARE OF THE STATE GDP 0.04 0.05 0.05 0.04 0.05 3.47 FINANCE AND INSURANCE This activity sector covers enterprises that are principally engaged in intermediation or in auxiliary financial activities. It covers the activities of Banks, Insurance companies and Stock Exchange. As expected, the contributions from this activity sector have been on steady increase since 2013 up to 2017 that this exercise covers. The GDP-value added at current basic price which was observed to be ₦10.19 billion in 2013 had increased to ₦15.64 billion in 2017 indicating over 50 per cent increase {i.e. 53.5%} in the space of 5 years. The contribution of this activity to the State GDP annually also granitites around 1.09% and 1.17%. See table 3.38 and fig 3.28 for the trend analysis. TABLE 3.38 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF FINANCE AND INSURANCE IN EKITI GDP, 2013-2017
  48. 48. 48 YEAR 2013 2014 2015 2016 2017 GDP-VA 10,189.2 6 10,992.76 13,485.41 14,954.82 15,636.76 % ANNUAL GROWTH RATE 7.89 22.68 10.68 4.56 % SHARE OF THESTATE GDP 1.16 1.17 1.10 1.09 1.12 3.48 FINANCIAL INSTITUTIONS The activity of the financial institutions particularly, the Banking sector contributed well over 60 percent of the economic output from the financial and insurance activity sector. While about ₦6.87 billion was recorded in 2013, it had increased to about ₦8.93 billion in 2015 and further to ₦9.98 billion in 2017. Apart from 2014 when a slight negative increase was recorded, no other year recorded any negative growth. In fact, the percentage annual growth rate was as high as 32.16% in 2015. It is also noticeable that the percentage share of this activity in the State GDP annually, ranged around 0.69% and 0.78% except for year 2015 when the contribution of the activity to the State GDP was as much as 1.73%. See table 3.39 and fig 3.29 below for more information. TABLE 3.39 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF FINANCIAL INSTITUTIONS IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 6,873.99 6,754.91 8,926.91 9,514.73 9,983.31 % ANNUAL GROWTH RATE -1.74 32.16 6.58 4.92 % SHARE OF THE STATE GDP 0.78 0.72 1.73 0.69 0.72
  49. 49. 49 3.49 INSURANCE Insurance activity is equally growing steadily but slowly in the State, except in the year 2014 when as much as 27.84% growth rate was recorded, no other year witnessed a growth rate of up to 20%. The annual growth rate was even as low as 3.92% in 2017. From the table of analysis below (Table 3.40), only a sum ₦3.3 billion was contributed to the State GDP in 2013. It had increased to ₦4.56 billion in 2015 and also to ₦5.65 billion in 2017. It was equally observed from the record that there was no year between 2013 and 2017 that up to 0.5% was contributed to the State GDP. TABLE 3.40 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF INSURANCE IN EKITI GDP, 2013- 2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 3,315.27 4,238.26 4,558.50 5,440.09 5,653.45 % ANNUAL GROWTH RATE 27.84 7.56 19.34 3.92 % SHARE OF THE STATE GDP 0.38 0.45 0.37 0.40 0.41 3.50 REAL ESTATE
  50. 50. 50 This covers the activities of real estate agent, broadcast and other agents engaged in renting, buying, selling, managing and appraising real estate (residential /non-residential building, land, industrial estate) on a fee basis. As observed, the activity of real estate is picking up in Ekiti State. The economic output generated from this activity which stood at ₦12.94 billion in 2013 had increased appreciably to ₦17.14 billion in 2017 which depicted a growth rate of 32.45% within 5 years. However, much of the growth was experienced between 2014 and 2015. The percentage share of this activity from the overall State GDP in each of the respective years stood at 1.23% and 1.51%. Table 3.41 and fig 3.31 below explains further. TABLE 3.41 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF REAL ESTATE IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 12,940.18 14,119.99 17,033.81 17,027.65 17,139.55 % ANNUAL GROWTH RATE 9.13 20.64 -0.04 0.66 % SHARE OF THE STATE GDP 1.47 1.51 1.39 1.24 1.23 3.51 PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES This activity includes accounting, auditing & bookkeeping services, data and computing services, brokers, legal services, architectural services, commercial art work and Security Services among others. This is one of the activity sectors that made a significant contribution to the State GDP. The activity contributed around ₦29 billion in each of the years 2013 and 2014. The amount jumped up to ₦46.6 billion in 2015 but dropped to ₦37.48 billion in 2016 and appreciated to as much as ₦91.90 billion in 2017. In fact, the annual growth rate was as high as 145% in 2017. As depicted in the table below, the annual contribution of this activity stood at over 3% between 2013 and 2015 but dropped to 2.74% in 2016 and rose to 6.61% in 2017. Table 3.42 and graph below provide details.
  51. 51. 51 TABLE 3.42 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 29,650.16 29,107.50 46,602.84 37,481.03 91,899.29 % ANNUAL GROWTH RATE -1.83 60.11 -19.57 145.19 % SHARE OF THESTATE GDP 3.37 3.11 3.97 2.74 6.61 3.52 ADMINISTRATIVE AND SUPPORT SERVICES This activity sector covers rental and leasing services of household goods, motor vehicle, machinery and equipment, travel agency, tour operators, office administrative and support services, etc. It should be noted that not much of this activity is operational in Ekiti State. Throughout the five-year period (2013-2017), there was no year that up to ₦500 million economic outputs from this activity was recorded. The amount contributed was even as low as about ₦280million in 2013. Also, the percentage share of this economic activity was so infinitesimal being around 0.03%. Table 3.43 and fig 3.33 below explains further. TABLE 3.43 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF ADMINISTRATIVE AND SUPPORT SERVICES IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 280.36 330.55 361.52 337.79 454.26 % ANNUAL GROWTH RATE 17.90 9.37 -1.03 26.96 % SHARE OF THE STATE GDP 0.03 0.04 0.03 0.03 0.30
  52. 52. 52 3.54 PUBLIC ADMINISTRATION Table 3.44 shows record of contribution from public administration to the State GDP. This consists majorly of activities of Federal, States and Local Government units together with social security imposed and controlled by the units. The principal output of this activity is non-market and is produced majorly on non-profit basis being government activities. The amount recorded against this activity being its contribution to the State GDP were ₦18.97 billion in 2013, ₦22.66 billion in 2014 and ₦19.24 billion in 2015. It increased to ₦21.70 billion in 2016 and further to about ₦22.43 billion in 2017. The percentage contribution from public administration to the State GDP ranged between 1.57% and 2.17% during the five year under examination. 3.44 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF PUBLIC ADMINISTRATION IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 18,982.22 20,287.06 19,238.67 21,701.90 22,425.25 % ANNUAL GROWTH RATE 6.87 -5.17 12.80 3.33 % SHARE OF THESTATE GDP 2.16 2.17 1.57 1.58 1.61
  53. 53. 53 3.53 EDUCATION Education services was also considered in the computation of State GDP being one of the activities listed in ISIC rev 4.0. The education services comprise majorly of teaching provided at primary, secondary and tertiary education levels. The consumers of these Services are Students. It should also be noted that education Services also include education resources services such as laboratories and libraries as well as non-formal and adult education. Ordinarily, when one considers the level at which Ekiti State cherishes education, one would expect this activity to contribute much more than what was noticed in this report. See table 3.45 and fig 3.35) below for further details. As observed, the contribution from the education sector was about ₦18.97billion in 2013. This had however increased to ₦32.04 billion in 2017. Throughout the period of 2013 to 2017, the percentage contribution to the annual State GDP stood at slightly over 2% in each of the respective years. This calls for further strategies at harnessing education resources and potentials in the State for economic growth. It is hoped that this will be achieved shortly as knowledge economy had been made one of the five-pillars of the present administration in Ekiti State. TABLE 3.45 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF EDUCATION IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 18,968.61 22,656.80 25,845.28 30,591.74 32,043.90 % ANNUAL GROWTH RATE 19.44 14.07 18.36 4.75 % SHARE OF THE STATE GDP 2.16 2.42 2.11 2.23 2.31
  54. 54. 54 3.55 HUMAN HEALTH AND SOCIAL SERVICES In this activity, various kinds of consultations and treatments provided by producers of health services are considered. It consists of community care services. In this respect, general government, non-profit institutions and private sectors are all engaged in the provision of health services. Most of the services are social in nature hence the contribution of this sector to the State economy as expected is low. The average annual contribution within the five-year under consideration was about ₦3.61billion. The contribution from this activity was also observed to be growing at a decreasing rate with 20.28% in 2014, 10.21% in 2015 and 5.52% in 2017. Also, the average annual share of human health and social services in the total State economic output was 0.31%, the lowest being 0.29% in 2016 and highest being 0.36% in 2014. Table 3.46 and fig 3.36 Illustrate further. TABLE 3.46 PERCENTAGE GROWTH RATE OF HUMAN HEALTH AND SOCIAL SERVICES IN EKITI GDP, 2013-2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 2,774.36 3,337.07 3,677.64 4,016.35 4,237.86 % ANNUAL GROWTH RATE 20.28 10.21 9.21 5.52 % SHARE OF THE STATE GDP 0.32 0.36 0.30 0.29 0.30 3.55 OTHER SERVICES
  55. 55. 55 The activities considered here are in most cases informal in nature and are not real professional services. They include services like repair services, laundry services, cleaning and dyeing, hairdressing, barbing, tailoring, shoe repairs and shining among others. These activities look small in operational nature but on the whole are found to have some impact on the State economy. Specifically, the contribution from the services which was observed to be ₦4.69billion in 2013 rose to ₦9.15billion in 2015 and further to ₦11.23biliion in 2017. See table 3.47 and fig 3.37 for more information. Also reflected in the table were the percentage shares of other services to the State overall economic output. The share was 0.53% in 2013 but had increased to 0.81% in 2017. 3.47 CONTRIBUTION AND PERCENTAGE GROWTH RATE OF OTHER SERVICES IN EKITI GDP, 2013- 2017 YEAR 2013 2014 2015 2016 2017 GDP-VA 4,692.82 6,421.38 9,105.67 10,094.88 11,227.86 % ANNUAL GROWTH RATE 36.83 42.50 10.32 11.22 % SHARE OF THE STATE GDP 0.53 0.69 0.75 0.74 0.81
  56. 56. 56 CHAPTER FOUR THE STATE GROSS DOMESTIC PRODUCT (SGDP) PER CAPITA In this section, the overall State Gross Domestic Product (SGDP) was considered in relation to the state population which enables us to compute SGDP per capita to measure the average impact of the economy on individual. The State GDP per capita was also considered on the three main sectors of the economy viz: Agriculture, Industry and Services. GDP per capita is a measure of a country’s or any of its defined constituent parts (e.g. State or LGA) economic output that accounts for its number of people. It tells how prosperous on the average each of the citizen of a Country or a State. It is indeed the best measurement of standard of living of any Country or State. It is derived with the division of the Gross Domestic Product of a Country/State by its total population. It is worthy of note that GDP per capita computed for Ekiti State and the sectors were based on the current basic prices being the data available due to absence of inflation data that could be used to deflate the figures to arrive at Real State GDP. It is in the pipeline to start computation of inflation figures in the State to be able to measure the real GDP. However, effort was made to standardize the State GDP figure with the exchange rate of Naira to US Dollar. Table 4.1 below contains vital information about Ekiti State, particularly its population figures and GDP for a period of 2013 to 2017. From the figures, the State GDP per capita in Naira and US Dollar were computed. The official rates of Naira to US Dollar in the five years were as shown in Table 4.1 below. The exchange rate which was N157.3 in 2013 had increased to N192.4 in 2015 and by year 2017 the official exchange rate was N305.8. See the trend analysis in figure 4.1 TABLE 4.1 EKITI STATE GDP PER CAPITA, 2013 - 2017 YEAR 2013 2014 2015 2016 2017 POPULATION 3,025,408 3,123,787 3,225,365 3,330,246 3,438,537
  57. 57. 57 GDP IN MILLION NAIRA (N) 879,926,403,376.96 936,255,489,805.60 1,225,223,076,235.57 1,369,403,177,439.49 1,390,019,594,400.91 GDP IN MILLION (US DOLLAR) 5,593,937,720.10 5,903,250,257.80 6,368,103,306.80 5,401,984,920.90 4,545,518,621.30 GDP PER CAPITA IN NAIRA 290,845.53 299,718.10 379,871.14 411,201.81 404,247.39 GDP PER CAPITA IN US DOLLAR) 1,848.99 1,899.77 1,974.38 1,622.09 1,321.93 EXCHANGE RATE OF NAIRA TO US DOLLAR 157.3 158.6 192.4 253.5 305.8 From the results shown in table 4.1, the State GDP as stated increased from N879.93 billion in 2013 to N936.26 billion in 2014 and rose further to as high as N1,225.22 trillion in 2016. It further increased to N1,390.02 trillion in 2017. The continuous growth in the total economic output of the State as recorded using Naira value gave a different scenario when the US Dollar value was used. From the table, it could be observed that State GDP figure based on US Dollar was seen to be increasing from 2013 to 2015 after which it started falling. The drop was accounted for by high rate of Naira devaluation. The State GDP figure which was observed to be $5.59 billion in 2013 increased to $5.90 billion in the following year. It increased again to $6.37 billion after which it fell sharply to N5.40 billion in 2016 and further to as low as N4.55 billion in 2017. The figures above translated to GDP per capita of N290,845.53 and N299,718.10 in 2013 and 2014 respectively. In 2015, the State GDP per capita increased to N379,871.14 and further to N411,201.81 in 2016 before falling to N404,247.39 in 2017. See figure 4.2 below On the account of using US Dollar to determine the State GDP per capita, it experienced an increase from $1,849 to $1,974 in 2013 to 2015. Thereafter, it started experiencing down- turn with the figures being $1,622 and $1,322 in 2016 and 2017 respectively as shown in fig 4.3.
  58. 58. 58 On the sectoral analysis based on the three main sectors viz Agriculture, industry and services, effort were also made to calculate the GDP per capita using both Naira and US Dollar value. There was no consistent growth on the Gross Domestic Product on Agriculture except for the continuous increase within 2014 to 2016. From the table of analysis, the rate which was N406.42billion in 2013 dropped to N371.14billion in 2014 but recorded increase within 2015 and 2016 being N516.67 billion and N569.10 billion at the periods. It collapsed to N555.06 billion in 2017. The actual value of the economy based on the exchange rate to US Dollar revealed that there was no consistent growth on agriculture. TABLE 4.2 .2 STATE GDP PER CAPITA, (AGRICULTURE SECTOR) IN EKITI STATE, 2013 - 2017 YEAR 2013 2014 2015 2016 2017 POPULATION 3,025,408 3,123,787 3,225,365 3,330,246 3,438,537 GDP IN MILLION NAIRA 406,418.94 371,138.67 516,685.41 569,100.33 555,057.93 GDP IN MILLION US DOLLAR 2,583.72 2,340.75 2,635.48 2,244.97 1,815.10 GDP PER CAPITA IN MILLION NAIRA 0.13434 0.11881 0.16019 0.17089 0.161142 GDP PER CAPITA IN MILLION US DOLLAR 0.00085 0.00075 0.00083 0.00067 0.00053 EXCHANGE RATE OF NAIRA TO US DOLLAR 157.3 158.6 192.4 253.5 305.8 It was an experience of a sea-wave throughout the five-year under consideration. The value which was $2.58billion in 2013 dropped to $2.3billion in 2014 but rose again to $2.64billion in 2015. It thereafter experienced a decline until 2017 when an amount of $1.82billion was recorded. See table 4.2 for more information. On the computation of the State GDP on agricultural sector using naira value, the data revealed that it dropped from N134,340 in 2013 to N118,810 in 2014. It thereafter picked up to N160,190 and N170,890 in 2015 and 2016 respectively before declining to N161,142 in 2017. See fig 4.4
  59. 59. 59 The State GDP for agricultural sector based on US Dollar revealed continuous decline throughout the 5-year period except for year 2015 when an increase was recorded. Specifically, the SGDP per capita for this sector which was $850 in 2013 dropped to $750 in 2014. It however increased to $850 in 2015 before recording sharp decline by 19.3% to $670 in 2016 and further to as low as $530 in 2017. The value of drop in the SGDP per capita using US Dollar value within the five-year period was as high as 37.4% (fig 4.5). The scenario in industry was almost similar to that of agricultural except that the contribution of agriculture to the State GDP was higher than that of industry as shown in table 4.3 below. The contribution of industry showed continuous growth using the Naira value from 2013 to 2015 The State GDP in Industry was N121,632.45 million in 2013 but had increased to N207,054.60 in 2015. It thereafter stood around N192,000 million in 2016 and 2017. When the US Dollar was used to measure the level of the economy, the value rose from $773 million in 2013 to $1,047 million in 2014. It went further to $1,076 million in 2015. It however experienced sharp decline to $758 million and $631 million in 2016 and 2017 respectively. Table 4.3 and the graph below explains further.
  60. 60. 60 TABLE 4.3 STATE GDP PER CAPITA, (INDUSTRY SECTOR) IN EKITI STATE, 2013 - 2017 YEAR 2013 2014 2014 2015 2016 POPULATION 3,025,408 3,123,787 3,225.365 3,330.246 3,438,537 GDP IN MILLION NAIRA 121,632.05 166,049.51 207,054.60 192,107.47 192,938.27 GDP IN MILLION US DOLLAR( 773.24 1,046.97 1,076.16 757.82 630.93 GDP PER CAPITA IN MILLION NAIRA 0.04020 0.05316 0.06420 0.05769 0.05611 GDP PER CAPITA IN MILLION US DOLLAR 0.00026 0.00034 0.00032 0.00023 0.00018 EXCHANGE RATE OF NAIRA TO US DOLLAR 157.3 158.6 192.4 253.5 305.8 The GDP per capita on Industry were about N40,200 in 2013, N53,160 in 2014 and N64,200. The value dropped again to around N57,690 and N56,110 in 2016 and 2017 respectively. See fig 4.6 The Dollar value of the State GDP per capita in Industry only showed an increase in 2014 with the value of $340 as against $260 in 2013. The rate was as low as $230 and $180 in 2016 and 2017. This revealed that the real value of contribution of industry to individual standard of living had fallen by 47% in the last three years of 2015 to 2017. See the trend analysis in fig 4.7
  61. 61. 61 The Service sector was also reviewed in terms of its contribution to the State GDP using both Naira and US Dollar value. The State GDP as per service sector experienced continuous growth from 2013 to 2017. The value which was N351.88billion in 2013 had increased to N642.02billion in 2017. It was however a different scenario when US Dollar was used to deflate the figure. A steady increase was only witnessed up to 2015 as the figure which was $2.24billion in 2013 increased to $2.52billion in 2014 and $2.6billion in 2015. By 2017, the figure had fallen to $2.10billion. TABLE 4.4 STATE GDP PER CAPITA IN THE SERVICE SECTOR, EKITI STATE 2013 - 2017 YEAR 2013 2014 2015 2016 2017 POPULATION 3,025,408 3,123,787 3,225,365 3,330,246 3,438,537 GDP IN MILLION NAIRA 351,875.41 399,067.23 501,495.81 608,195.38 642,023.40 GDP IN MILLION US DOLLAR 2,236.97 2,516.19 2,606.53 2,399.19 2,099.49 GDP PER CAPITA IN MILLION NAIRA 0.11631 0.12775 0.15548 0.18263 0.18671 GDP PER CAPITA IN MILLION US DOLLAR 0.00074 0.00081 0.00081 0.00072 0.00061 EXCHANGE RATE OF NAIRA TO US DOLLAR 157.3 158.6 192.4 253.5 305.8 Specifically, on the State GDP per capita, the value recorded which was about N116,310 in 2013 had increased to N155,480 in 2015 and again to N186,710 in 2017 (Fig 4.8).
  62. 62. 62 The exchange rate of Naira to US Dollar however affected the real value of GDP per capita which therefore resulted to an increase in GDP per capita of $740 in 2013 to $810 both in 2015 and 2016. The value thereafter fell to $720 and $610 in 2016 and 2017 respectively. This is an indication of declining impact of services to individuals in terms of economic strengthen in years 2016 and 2017. See fig 4.9.

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