FACT-CHECK: Is The Oil Sector Contributing 20% To Nigeria’s GDP As Claimed By Atiku?

How true is the claim by the People’s Democratic Party Presidential candidate, Atiku Abubakar, that the Oil Sector Represents 20% Of Nigeria’s GDP?

Atiku claimed during an hour-long pre-recorded interview aired on July 22, 2022, that the “Oil sector accounts for about 20% of our GDP, the bulk of our GDP is non-oil,”

He said he would rather develop the non-oil sector due to the country’s relatively slow economic growth, while reeling out his plans to lift Nigerians out of poverty.

Checks By THE WHISTLER

However, the Nigerian Bureau Of Statistics(NBS) data shows that “The Oil sector contributed 6.63% to the total real GDP in Q1 2022.

Further checks of data from Q4 of 2020  and 2021 show that the oil sector has not contributed up to 10% of the country’s GDP.

The analyzed contribution of the oil sector to the 2020 and   2021 real GDP, stands at 5.87% and 7.24% respectively.

See the data visualization  below

Verdict: THE WHISTLER, therefore, rates the claim as FALSE

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