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Nigeria’s GDP grows by 2.38% in Q4 2018
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Nigeria’s GDP grows by 2.38% in Q4 2018

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Image result for Nigeria's GDP grows by  2.38 percent in 2018Nigeria’s Gross Domestic Product in the fourth quarter of 2018 grew 2.38 percent in real terms (year-on-year).

This represents an increase of 0.27 percent compared to the fourth quarter of 2017 which recorded a growth of 2.11 percent.

It shows a rise by 0.55 percent compared with the growth recorded in Q3 2018. On a quarter on quarter basis, real GDP growth was 5.31 percent.

The fourth quarter growth performance implies that real GDP grew at an annual growth rate of 1.93percent compared to 0.82 percent recorded the previous year, an increase of 1.09 percent.

The Oil sector contributed 7.06 percent to real GDP in Q4 2018, compared to 7.35% in Q4 2017.

The Non-Oil sector contributed 92.94% to real GDP in the fourth quarter, slightly higher than the 92.65% seen in Q4 2017.

Key performing activities within the non oil sector were ICT, Transportation & Storage, Arts & Entertainment as well as Agriculture and Manufacturing.

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