The National Bureau of Statistics has released its quarterly Gross Domestic Product (GDP) report.
According to it, in the fourth quarter of 2018, Nigeria’s Gross Domestic Product (GDP) grew by 2.38% in real terms (year-on-year).
This represents an increase of 0.27% points when compared to the fourth quarter of 2017 which recorded a growth rate of 2.11%.
It also 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.
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 N113,711,634.61 million recorded in 2017.
Source: Voice of Nigeria