Nigeria Post Highest Quarterly GDP Growth Since 2016 Recession
Nigeria’s Gross Domestic Product (GDP) recorded a growth of 2.55 per cent (year-on-year) in real terms in the fourth quarter of 2019, which is the highest since the last recession in 2016.
National Bureau of Statistics (NBS) made this known in its latest report released on Monday.
The figure shows an increase of 0.17 per cent points compared to the fourth quarter of 2018 which recorded a growth rate of 2.38 per cent.
The data agency revealed that the GDP growth also represents an increase of 0.27 per cent points when compared with the third quarter of the year under review.
“The strong fourth quarter 2019 growth rate also represented the highest quarterly growth performance since the 2016 recession.
ALSO READ: I Visit Goldie’s Grave To Keep Her Memories Alive –Denrele Edun
“Overall, this resulted in annual 2019 real growth rate of 2.27%, compared to 1.91% in 2018. Quarter on quarter, real GDP growth was 5.59%,” the report stated.
In the last quarter of 2019, the NBS said the nation’s aggregate GDP stood at N39, 577,340.04 million in nominal terms.
It explained that this was higher than the fourth quarter of 2018 which recorded an aggregate of N35, 230,607.63 million, representing year on year nominal growth rate of 12.34 per cent.
Publisher,
Lagos Post Online,
Lagos Post is an online publication that seeks to provide fair, unbiased, credible, balanced and useful information about Corporate Organisations, Governments and the General Public by breaking news in Business, Politics, Arts, Entertainment, Culture, and Sports in Nigeria, Africa and the World. As a global news portal, we continually stand for responsible journalism and sound media practice.
Mobile: +238025837037
Email: lagospostng@gmail.com
