Nigeria’s GDP Grows In First Quarter Of 2018

Nigeria’s real Gross Domestic Product (GDP) grew year-on-year to 1.95 percent in the first quarter of 2018.

According to the National Bureau of Statistics, the performance represents a stronger growth compared with the first quarter of 2017, indicating an increase of 2.87 percentage points.

Compared to the preceding quarter, however, the GDP fell 0.16 percent points from 2.11 percent.

In nominal terms, aggregate GDP stood at 28.46 billion naira, higher in performance when compared to the 26.02 billion naira recorded in the first quarter of 2017

The statistics bureau says the GDP number presents a positive year on year nominal growth rate of 9.36 percent.

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