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.