According to him, the real sector of the economy grew marginally as agriculture grew by 1.2 per cent manufacturing 3 per cent and construction 4.2 per cent.
The service sector growth outperformed the real sector, reflecting the sectoral variabilities in the constraints faced by investors in the economy. Also, Air transport grew by 22.5 per cent, financial services 20 per cent ICT 7.71 per cent trade sector 4.5 per cent and real estate 4.4 per cent.Yusuf, noted that many businesses are struggling to cope with the numerous challenges and shocks to the economy while the citizens are also experiencing serious economic hardship as a result of the galloping inflation and the impact on purchasing power.
Additionally, the Nigerian National Petroleum Company, Limited, has reported huge crude oil theft and vandalization of oil facilities in the oil producing areas, estimating that the country loses two billion dollars monthly on account of oil theft. Loses are also suffered on account of vandalization of oil facilities, pipelines and the activities of illegal refineries.
Yusuf, also noted that productivity and competitiveness issues continue to impact negatively on the performance across sectors of the economy while the general operating environment continues to be very challenging for most investors.