The Nigerian economy has been severely impacted by the high inflationary trend, which has caused the GDP growth rate to drop from 5.01 percent in the same period of 2021 to 3.54 percent in the second quarter of 2022.
The National Bureau of Statistics, NBS, reported on Friday that COVID-19 and inflation had a negative impact on Nigeria’s economic growth rate over the time period under consideration.
A slower economic growth means lower activities within a period.
The NBS noted that the recent inflationary trend had adversely impacted the second quarter 2022 performance.
Nigeria’s headline inflation rate increased to 19.64 per cent on a year-on-year basis in July 2022, the highest since 2005.
This was 2.27 per cent points higher compared to the rate recorded in July 2021, which was 17.38 per cent.
The NBS had stated when it issued the July 2022 inflation figures that “this shows that the headline inflation rate increased in July 2022 as compared to the same month in the previous year of July 2021.”
The statistics body said the newly-released Q2 2022 growth rate decreased by 1.47 percentage points from 5.01 per cent growth rate recorded in Q2 2021 and increased by 0.44 percentage points relative to 3.11 per cent in Q1 2022.
Aggregate GDP within the period stood at N45.004 trillion in nominal terms, higher than N39.123 trillion in the same period of 2021, indicating a year-on-year nominal growth rate of 15.03 per cent.
“The nominal GDP growth rate in Q2 2022 was higher relative to the 14.99 per cent growth recorded in the second quarter of 2021 and higher compared to the 13.25 per cent growth recorded in the preceding quarter. For better clarity, the Nigerian economy has been classified broadly into the oil and nonoil sectors.”
The Nigerian economy has been severely impacted by the high inflationary trend, which has caused the GDP growth rate to drop from 5.01 percent in the same period of 2021 to 3.54 percent in the second quarter of 2022.
The National Bureau of Statistics, NBS, reported on Friday that COVID-19 and inflation had a negative impact on Nigeria’s economic growth rate over the time period under consideration.
A slower economic growth means lower activities within a period.
The NBS noted that the recent inflationary trend had adversely impacted the second quarter 2022 performance.
Nigeria’s headline inflation rate increased to 19.64 per cent on a year-on-year basis in July 2022, the highest since 2005.
This was 2.27 per cent points higher compared to the rate recorded in July 2021, which was 17.38 per cent.
The NBS had stated when it issued the July 2022 inflation figures that “this shows that the headline inflation rate increased in July 2022 as compared to the same month in the previous year of July 2021.”
The statistics body said the newly-released Q2 2022 growth rate decreased by 1.47 percentage points from 5.01 per cent growth rate recorded in Q2 2021 and increased by 0.44 percentage points relative to 3.11 per cent in Q1 2022.
Aggregate GDP within the period stood at N45.004 trillion in nominal terms, higher than N39.123 trillion in the same period of 2021, indicating a year-on-year nominal growth rate of 15.03 per cent.
“The nominal GDP growth rate in Q2 2022 was higher relative to the 14.99 per cent growth recorded in the second quarter of 2021 and higher compared to the 13.25 per cent growth recorded in the preceding quarter. For better clarity, the Nigerian economy has been classified broadly into the oil and nonoil sectors.”
The Nigerian economy has been severely impacted by the high inflationary trend, which has caused the GDP growth rate to drop from 5.01 percent in the same period of 2021 to 3.54 percent in the second quarter of 2022.
The National Bureau of Statistics, NBS, reported on Friday that COVID-19 and inflation had a negative impact on Nigeria’s economic growth rate over the time period under consideration.
A slower economic growth means lower activities within a period.
The NBS noted that the recent inflationary trend had adversely impacted the second quarter 2022 performance.
Nigeria’s headline inflation rate increased to 19.64 per cent on a year-on-year basis in July 2022, the highest since 2005.
This was 2.27 per cent points higher compared to the rate recorded in July 2021, which was 17.38 per cent.
The NBS had stated when it issued the July 2022 inflation figures that “this shows that the headline inflation rate increased in July 2022 as compared to the same month in the previous year of July 2021.”
The statistics body said the newly-released Q2 2022 growth rate decreased by 1.47 percentage points from 5.01 per cent growth rate recorded in Q2 2021 and increased by 0.44 percentage points relative to 3.11 per cent in Q1 2022.
Aggregate GDP within the period stood at N45.004 trillion in nominal terms, higher than N39.123 trillion in the same period of 2021, indicating a year-on-year nominal growth rate of 15.03 per cent.
“The nominal GDP growth rate in Q2 2022 was higher relative to the 14.99 per cent growth recorded in the second quarter of 2021 and higher compared to the 13.25 per cent growth recorded in the preceding quarter. For better clarity, the Nigerian economy has been classified broadly into the oil and nonoil sectors.”
The Nigerian economy has been severely impacted by the high inflationary trend, which has caused the GDP growth rate to drop from 5.01 percent in the same period of 2021 to 3.54 percent in the second quarter of 2022.
The National Bureau of Statistics, NBS, reported on Friday that COVID-19 and inflation had a negative impact on Nigeria’s economic growth rate over the time period under consideration.
A slower economic growth means lower activities within a period.
The NBS noted that the recent inflationary trend had adversely impacted the second quarter 2022 performance.
Nigeria’s headline inflation rate increased to 19.64 per cent on a year-on-year basis in July 2022, the highest since 2005.
This was 2.27 per cent points higher compared to the rate recorded in July 2021, which was 17.38 per cent.
The NBS had stated when it issued the July 2022 inflation figures that “this shows that the headline inflation rate increased in July 2022 as compared to the same month in the previous year of July 2021.”
The statistics body said the newly-released Q2 2022 growth rate decreased by 1.47 percentage points from 5.01 per cent growth rate recorded in Q2 2021 and increased by 0.44 percentage points relative to 3.11 per cent in Q1 2022.
Aggregate GDP within the period stood at N45.004 trillion in nominal terms, higher than N39.123 trillion in the same period of 2021, indicating a year-on-year nominal growth rate of 15.03 per cent.
“The nominal GDP growth rate in Q2 2022 was higher relative to the 14.99 per cent growth recorded in the second quarter of 2021 and higher compared to the 13.25 per cent growth recorded in the preceding quarter. For better clarity, the Nigerian economy has been classified broadly into the oil and nonoil sectors.”
The Nigerian economy has been severely impacted by the high inflationary trend, which has caused the GDP growth rate to drop from 5.01 percent in the same period of 2021 to 3.54 percent in the second quarter of 2022.
The National Bureau of Statistics, NBS, reported on Friday that COVID-19 and inflation had a negative impact on Nigeria’s economic growth rate over the time period under consideration.
A slower economic growth means lower activities within a period.
The NBS noted that the recent inflationary trend had adversely impacted the second quarter 2022 performance.
Nigeria’s headline inflation rate increased to 19.64 per cent on a year-on-year basis in July 2022, the highest since 2005.
This was 2.27 per cent points higher compared to the rate recorded in July 2021, which was 17.38 per cent.
The NBS had stated when it issued the July 2022 inflation figures that “this shows that the headline inflation rate increased in July 2022 as compared to the same month in the previous year of July 2021.”
The statistics body said the newly-released Q2 2022 growth rate decreased by 1.47 percentage points from 5.01 per cent growth rate recorded in Q2 2021 and increased by 0.44 percentage points relative to 3.11 per cent in Q1 2022.
Aggregate GDP within the period stood at N45.004 trillion in nominal terms, higher than N39.123 trillion in the same period of 2021, indicating a year-on-year nominal growth rate of 15.03 per cent.
“The nominal GDP growth rate in Q2 2022 was higher relative to the 14.99 per cent growth recorded in the second quarter of 2021 and higher compared to the 13.25 per cent growth recorded in the preceding quarter. For better clarity, the Nigerian economy has been classified broadly into the oil and nonoil sectors.”
The Nigerian economy has been severely impacted by the high inflationary trend, which has caused the GDP growth rate to drop from 5.01 percent in the same period of 2021 to 3.54 percent in the second quarter of 2022.
The National Bureau of Statistics, NBS, reported on Friday that COVID-19 and inflation had a negative impact on Nigeria’s economic growth rate over the time period under consideration.
A slower economic growth means lower activities within a period.
The NBS noted that the recent inflationary trend had adversely impacted the second quarter 2022 performance.
Nigeria’s headline inflation rate increased to 19.64 per cent on a year-on-year basis in July 2022, the highest since 2005.
This was 2.27 per cent points higher compared to the rate recorded in July 2021, which was 17.38 per cent.
The NBS had stated when it issued the July 2022 inflation figures that “this shows that the headline inflation rate increased in July 2022 as compared to the same month in the previous year of July 2021.”
The statistics body said the newly-released Q2 2022 growth rate decreased by 1.47 percentage points from 5.01 per cent growth rate recorded in Q2 2021 and increased by 0.44 percentage points relative to 3.11 per cent in Q1 2022.
Aggregate GDP within the period stood at N45.004 trillion in nominal terms, higher than N39.123 trillion in the same period of 2021, indicating a year-on-year nominal growth rate of 15.03 per cent.
“The nominal GDP growth rate in Q2 2022 was higher relative to the 14.99 per cent growth recorded in the second quarter of 2021 and higher compared to the 13.25 per cent growth recorded in the preceding quarter. For better clarity, the Nigerian economy has been classified broadly into the oil and nonoil sectors.”
The Nigerian economy has been severely impacted by the high inflationary trend, which has caused the GDP growth rate to drop from 5.01 percent in the same period of 2021 to 3.54 percent in the second quarter of 2022.
The National Bureau of Statistics, NBS, reported on Friday that COVID-19 and inflation had a negative impact on Nigeria’s economic growth rate over the time period under consideration.
A slower economic growth means lower activities within a period.
The NBS noted that the recent inflationary trend had adversely impacted the second quarter 2022 performance.
Nigeria’s headline inflation rate increased to 19.64 per cent on a year-on-year basis in July 2022, the highest since 2005.
This was 2.27 per cent points higher compared to the rate recorded in July 2021, which was 17.38 per cent.
The NBS had stated when it issued the July 2022 inflation figures that “this shows that the headline inflation rate increased in July 2022 as compared to the same month in the previous year of July 2021.”
The statistics body said the newly-released Q2 2022 growth rate decreased by 1.47 percentage points from 5.01 per cent growth rate recorded in Q2 2021 and increased by 0.44 percentage points relative to 3.11 per cent in Q1 2022.
Aggregate GDP within the period stood at N45.004 trillion in nominal terms, higher than N39.123 trillion in the same period of 2021, indicating a year-on-year nominal growth rate of 15.03 per cent.
“The nominal GDP growth rate in Q2 2022 was higher relative to the 14.99 per cent growth recorded in the second quarter of 2021 and higher compared to the 13.25 per cent growth recorded in the preceding quarter. For better clarity, the Nigerian economy has been classified broadly into the oil and nonoil sectors.”
The Nigerian economy has been severely impacted by the high inflationary trend, which has caused the GDP growth rate to drop from 5.01 percent in the same period of 2021 to 3.54 percent in the second quarter of 2022.
The National Bureau of Statistics, NBS, reported on Friday that COVID-19 and inflation had a negative impact on Nigeria’s economic growth rate over the time period under consideration.
A slower economic growth means lower activities within a period.
The NBS noted that the recent inflationary trend had adversely impacted the second quarter 2022 performance.
Nigeria’s headline inflation rate increased to 19.64 per cent on a year-on-year basis in July 2022, the highest since 2005.
This was 2.27 per cent points higher compared to the rate recorded in July 2021, which was 17.38 per cent.
The NBS had stated when it issued the July 2022 inflation figures that “this shows that the headline inflation rate increased in July 2022 as compared to the same month in the previous year of July 2021.”
The statistics body said the newly-released Q2 2022 growth rate decreased by 1.47 percentage points from 5.01 per cent growth rate recorded in Q2 2021 and increased by 0.44 percentage points relative to 3.11 per cent in Q1 2022.
Aggregate GDP within the period stood at N45.004 trillion in nominal terms, higher than N39.123 trillion in the same period of 2021, indicating a year-on-year nominal growth rate of 15.03 per cent.
“The nominal GDP growth rate in Q2 2022 was higher relative to the 14.99 per cent growth recorded in the second quarter of 2021 and higher compared to the 13.25 per cent growth recorded in the preceding quarter. For better clarity, the Nigerian economy has been classified broadly into the oil and nonoil sectors.”
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