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Nigeria's GDP records 2.01 percent growth in Q1

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Christian Fernsby ▼ | May 21, 2019
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Nigeria's Gross Domestic Product (GDP) grew by 2.01 percent year-on-year in real terms in the first quarter (Q1) of 2019, according to official data

The latest growth rate is 0.12 percent higher than the growth rate of 1.89 percent recorded in Q1 2018, the National Bureau of Statistics (NBS) said.

It said the strong performance recorded in Q1 may be due to the country's general elections held within the period.

The nominal GDP growth rate in the first quarter was also higher than the rate recorded in the first quarter of 2018 by 2.54 percent points, the NBS figures showed.

Nigeria's economy is mainly classified into the oil and non-oil sectors.


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