The nominal expenditure on Gross Domestic Product (GDP) in Nigeria increased by 4.22 percent, from N20.38 trillion recorded in the First Quarter of 2014 to N21.24 trillion in the first quarter of this year.
A report released yesterday by the National Bureau of Statistics (NBS) showed that growth was slower relative to rates recorded in the corresponding quarter of 2014 and the preceding quarter of 2014 by 5.82 and 9.32 percentage points respectively.
Expenditure on GDP measured in real terms rose by 3.86 percent year-on-year in the period.
On a nominal basis, the expenditure on GDP grew by 4.22 percent year-on-year during the quarter.
GDP by expenditure approach is a method for calculating GDP that total consumption, investment, government spending and net exports.
The report revealed that final consumption expenditure of households continued to account for the largest share of expenditure on GDP, accounting for 64.34 percent of real GDP in the period, up by 1.78 percentage points from the corresponding quarter in 2014.
Final consumption expenditure of households grew by 8.73 percent year-on-year, up by 3.26 percentage points from the corresponding quarter in 2014.
During the period, general government final expenditure grew by 42.81 percent, higher than -7.53 percent in Q1, 2014, but lower than 16.56 percent recorded in Q4 2014.
The share to expenditure on GDP declined from 8.54 percent in Q4, 2014 to 8.34 percent in Q1 2015.