Nigeria: GDP Grows to 2.55℅ in Q4

A commercial tricycle operator operating along Tafawa Balewa Square in Lagos Nigeria (file photo).
24 February 2020

Abuja — Nigeria's Gross Domestic Product (GDP) growth rate improved to 2.55 per cent (year-on-year) in real terms in the fourth quarter of last year (Q4 2019) compared to 2.28 per cent in the preceding quarter, according to the National Bureau of Statistics (NBS).

According to the GDP Report for Q4, released Monday by the statistical agency, the economy grew by 2.27 per cent in 2019 compared to 1.91 per cent in 2018.

Aggregate GDP stood at N39.57 trillion in nominal terms, higher than the N35.23 trillion recorded in the corresponding quarter of 2018.

The strong growth in Q4 also represented the highest quarterly growth performance since the 2016 recession, the NBS noted.

However, Quarter on quarter, real GDP growth was estimated at 5.59per cent.

Detail later...

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