Nigeria: GDP Grows By 1.95% in Q1, Non-Oil Sector Accounts for 90.3%

Though the nation's Gross Domestic Product (GDP) grew by 1.95 per cent (year-on-year) in real terms in the first quarter of 2018, financial analysts have advocated easing of monetary policy for sustainability.

Data released by the National Bureau of Statistics (NBS), yesterday, showed a stronger growth when compared with the first quarter of 2017, which recorded a growth of -0.91 per cent, indicating an increase of 2.87 per cent points. Compared to the preceding quarter, there was a decline of -0.16 per cent points from 2.11 per cent. Quarter on quarter, real GDP growth was -13.40 per cent.

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