Nigeria’s GDP records annual growth rate of 1.93% in 2018

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NIGERIA’S real Gross Domestic Product (GDP) grew at an annual growth rate of 1.93 per cent in 2018, compared to 0.82 per cent recorded in 2017, an increase of 1.09 percentage points.

The National Bureau of Statistics (NBS), announced this on Tuesday morning in its fourth quarter of 2018, GDP report.

According to the report, the country’s GDP grew by 2.38 per cent in real terms, when compared to the previous year (year-on-year).

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This represents an increase of 0.27 points when compared to the fourth quarter of 2017 which recorded a growth rate of 2.11per cent. It also indicates a rise of 0.55 percentage points when compared with the growth rate recorded in Q3 2018.

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 12.65per cent.

For 2018, nominal GDP was therefore recorded at N127,762,545.58million representing a nominal growth rate of 12.36 per cent when compared to N113,711,634.61 million recorded in 2017…

The post Nigeria’s GDP records annual growth rate of 1.93% in 2018 appeared first on Tribune Online.

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