Nigeria’s GDP surges to 2.55% in Q4’19

Nigeria's GDP surges to 2.55% in Q4'19

Nigeria’s Gross Domestic Product (GDP) growth rate increased to 2.55 per cent year-on-year , or 0.27 percent, in real terms in the fourth quarter of last year, Q4’19, compared to 2.28 per cent in the preceding quarter, the National Bureau of Statistics (NBS).

In the GDP Report for Q4, released Monday, the Bureau stated that, Nigeria’s economy grew by 2.27 per cent in 2019 compared to 1.91 per cent in 2018.

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It further stated that the aggregate GDP stood at N39.57 trillion in nominal terms, higher than the N35.23 trillion recorded in the corresponding quarter of 2018.

“The strong growth in Q4 also represented the highest quarterly growth performance since the 2016 recession,” the statistical agency added.

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