GDP Grew 1.81% in Q3

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By James Emejo in Abuja

Nigeria’s Gross Domestic Product (GDP) growth rate increased to 1.81 per cent (year-on-year) in real terms in the third quarter of the year (Q3, 2018) compared to 1.50 per cent recorded in the preceding quarter, the National Bureau of Statistics (NBS) has stated.

Aggregate GDP stood at N33.36 trillion in nominal terms, according to the Third Quarter GDP report, released Monday by the statistical agency.

The performance is higher when compared to Q3, 2017 which recorded a GDP aggregate of
N29.37 trillion, thus, presenting a positive year-on-year nominal growth rate of 13.58 per cent.

The NBS stated: “This growth rate is higher relative to growth recorded in the third quarter of 2017 by 2.88% points and higher than the proceeding quarter by 0.01% points with growth rates of 10.70% and 13.57% respectively.”

Details later…