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Breaking: NBS says Nigeria’s nominal GDP grows by 2.38 percent in 4th quarter of 2018

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Report from National Bureau of Statistics says that Nigeria’s Gross Domestic Product (GDP) experienced a 2.38 percent growth in real terms in the fourth quarter of 2018.

This means a 0.27 percent rise over the fourth quarter of 2017.

Details reveal further that the Real GDP growth posted 5.31 percent on a quarter-on-quarter basis, with a yearly growth rate of 1.93 percent printed for the fiscal year of 2018.

Also, the aggregate nominal GDP stood at NGN 35.230bn which is 12.65 percent higher than the NGN 31.275bn posted in the fourth quarter of 2017.

Similarly, the country’s nominal GDP for 2018 was pegged at NGN127.76bn which is a nominal growth rate of 12.36 percent above the fiscal year of 2017 level of NGN 113.71bn.