By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Africa Housing NewsAfrica Housing News
Notification Show More
Aa
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
    • About Us
    • Contact Us
    • Join Us
Reading: Nigeria’s GDP increases by 2.38% in Q4 2018 — NBS
Share
Aa
Africa Housing NewsAfrica Housing News
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
Search
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
    • About Us
    • Contact Us
    • Join Us
Have an existing account? Sign In
Follow US
Africa Housing News > Blog > News > Nigeria’s GDP increases by 2.38% in Q4 2018 — NBS
Nigeria’s GDP increases by 2.38% in Q4 2018 — NBS
News

Nigeria’s GDP increases by 2.38% in Q4 2018 — NBS

Fesadeb
Last updated: 2019/02/12 at 11:37 AM
Fesadeb Published February 12, 2019
Share
SHARE

Nigeria’s Gross Domestic Product (GDP) grew by 2.38 per cent in real terms (year-on-year), the National Bureau of Statistics (NBS) reported Tuesday.

The latest growth rate represents an increase of 0.27 per cent points when compared to the fourth quarter of 2017 which recorded a growth rate of 2.11 per cent.

It also indicates a rise of 0.55 per cent points when compared with the growth rate recorded in Q3 2018.

Click here to watch weekly episodes of Housing Development Programme on AIT

Further analysis showed that on a quarter on quarter basis, real GDP growth was 5.31 per cent.

The fourth quarter growth performance implies that real GDP grew at an annual growth rate of 1.93 per cent in 2018, compared to 0.82 per cent recorded in 2017, an increase of 1.09 per cent points.

During the quarter, aggregate nominal GDP stood at N35.23 trillion, which is higher than N31.28 billion recorded in Q4 2017, a nominal growth rate of 12.65 per cent.

For 2018, nominal GDP was therefore recorded at N127.76 trillion representing a nominal growth rate of 12.36 per cent when compared to N113.71 trillion recorded in 2017.

Analysing the report, the Global Chief Economist of Renaissance Africa, Charlie Robertson, said Nigeria’s GDP has been slowly picking up since the oil price crash of 2014 to 2016 up 1.9 per cent in 2018 from the 0.8 per cent recorded the year before.

Robertson described the GDP growth rate of last quarter of 2018 as the “best in years at 2.4 per cent- but not fast enough to deal with Unemployment.”

A Value Investor, Lalode Akinmurele, said the latest GDP growth rate remains abysmal still for a country with a birth rate in excess of 2.6 per cent.

“The release is apt, four days to the February 16 polls,” he stated.

Source: Daily Trust

You Might Also Like

Oil Prices Decline as Middle East Conflict Shows Signs of Containment; Gold Nears Record High

Missile Barrage from Iran Damages U.S. Embassy in Tel Aviv; No Injuries Reported

NUPRC, Indigenous Oil Producers Strengthen Alliance to Boost Transparency, Output

NNPCL Reports ₦5.89 Trillion Revenue and ₦748 Billion Profit for April 2025

FG Moves to Enforce Intellectual Property Protection for Nigerian Creatives

Join Our Whatsapp Group

Contact Image

Join Our WhatsApp Channel

Housing TV Africa is the First Housing News Television
in Africa on Startimes Channel 149 bringing you
Housing News, Mortgage News, Construction News etc

Fesadeb February 12, 2019 February 12, 2019
Share this Article
Facebook Twitter Email Print
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

© Africa Housing News. All Rights Reserved 2024

Welcome Back!

Sign in to your account

Lost your password?