Nigerian economy grows by 1.81% in the third quarter of 2018
An analysis of the report shows that non-oil sector of the economy recorded a growth of 2.32% as oil sector dragged the economy by a contraction of 2.91% in Q3.
Professor Yemi Osinbajo and President Muhammadu Buhari
The National Bureau of Statistics (NBS) stated this on Monday, December 10, 2018, in its third quarter GDP report.
According to the report, Nigeria's GDP rose by 0.31% points from the second quarter which had a growth rate of 1.50%. Quarter on quarter, real GDP growth was 9.05%.
In the quarter under review, NBS said the aggregate GDP stood at N33,368,049.14 million in nominal terms.
ADVERTISEMENT
ece-auto-gen
“This performance is higher when compared to the third quarter of 2017 which recorded a GDP aggregate of N29,377,674.03 million thus, presenting a positive year on year nominal growth rate of 13.58%.
“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,” the Statistics Office said on Monday.
Business Insider Sub-Saharan Africa's analysis of the report shows that non-oil sector of the economy continues on a positive streak with growth by 2.32% in the third quarter as oil sector dragged the economy by a contraction of 2.91% in Q3.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Tinubu endorses 3 frameworks to educate Nigeria's out-of-school children
Anxiety as APC confirms Ganduje's chairmanship status
Mysterious illness kills 8 people in Sokoto - no one can explain why
Child labour problem in Nigeria worst in Southeast, Northwest
Over 600,000 Nigerians are being forced to work against their will
Gov Mbah plans befitting burial for Nollywood stars Mr Ibu, Junior Pope
Tinubu made naira world’s best, what PDP failed to do in 16 years - Onanuga
8 suspects disrupt inauguration of appointed commissioners at Kano Govt House
Yahaya Bello stripped of police protection as IG withdraws officers attached to him
Pulse Sports
Lionel Messi's son breaks the internet after scoring five goals for Inter Miami
Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe
Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024
ADVERTISEMENT