Nigeria’s GDP grows by 2.38 towards the end of 2018

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

The growth, according to NBS, “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 third quarter of 2018. On a quarter bases, real GDP growth was 5.31%. The fourth quarter growth performance implied 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.”

It says, “during the quarter, aggregate nominal GDP stood at N35,230,607.63 million, which is higher than N31,275,354.08 million recorded in the fourth quarter of 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.”