Home Nigerian news Nigeria’s GDP growth drops in Q1 2019, NBS reports

Nigeria’s GDP growth drops in Q1 2019, NBS reports

The Q1 2019 growth rate represented an increase of 0.12% points when compared to Q1 2018 which recorded real GDP growth rate of 1.89%.

However, the real GDP growth rate declined by -0.38% points when compared to Q4 2018 when the growth rate was 2.38%.

“Aggregate GDP stood at N31,794,085.85 million in nominal terms. This aggregate was higher than in the first quarter of 2018 which recorded N28,438,604.23 million, representing a year on year nominal growth rate of 11.80%.

“The aggregate was, however, lower than in the preceding quarter of N35,230,607.63 million, by -9.75%. The nominal GDP growth rate in Q1 2019 was higher than the rate recorded in Q1 2018 by 2.54% points,” the report read.

Details later.

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