Nigerian gross domestic product grew by 2.7 percent in the first quarter but the oil sector contracted by 2.5 percent due to supply cuts caused by militant attacks in the Niger Delta, the central bank said on Wednesday.
The government's GDP growth target for the year is 10 percent, but Central Bank Governor Charles Soludo told Reuters last week growth could be "significantly" affected by attacks that have shut down a quarter of oil output since February. The bank said in a quarterly report that the non-oil economy grew by 4.8 percent in the first quarter. "Aggregate output in the economy measured by the gross domestic product (GDP) grew by 2.7 percent during the first quarter," the report said.