Nigeria’s GDP Grows By 2.38% In Q4 2018 – NBS

Nigeria’s GDP grows by 2.38 in Q4 2018 – NBS
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Nigeria’s Gross Domestic Product, GDP, grew by 2.38% in real terms (year-on-year), In the fourth quarter of 2018, the National Bureau of Statistics, NBS, report obtained by Vanguard on Tuesday says.

The growth, according to National Bureau of Statistics, “represents an increase of 0.27% points when compared to the fourth quarter of 2017 which recorded a growth rate of 2.11%.

The report also said that the growth “indicates a rise of 0.55% points when compared with the growth rate recorded in Q3 2018. On a quarter on quarter basis, real GDP growth was 5.31%. The fourth quarter growth performance implies that real GDP grew at an annual growth rate of 1.93% in 2018, compared to 0.82% recorded in 2017, an increase of 1.09% points.”

The report also said, “during the quarter, aggregate nominal GDP stood at N35,230,607.63 million, which is higher than N31,275,354.08 million recorded in Q4 2017, a nominal growth rate of 12.65%.

“For 2018, nominal GDP was therefore recorded at N127,762,545.58 million representing a nominal growth rate of 12.36% when compared to N113,711,634.61million recorded in 2017.”

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