Nigeria’s Gross Domestic Product, GDP, grew by 2.38 percent in the fourth quarters of 2018, the National Bureau of Statistics, NBS, reports.
According to the NBS, the GDP grew by 2.38% in real terms (year-on-year), which represented an increase of 0.27% points when compared to the fourth quarter of 2017 which recorded a growth rate of 2.11%.
It also indicates a rise of 0.55% points when compared with the growth rate recorded in third quarters of 2018.
The NBS said on a quarter on quarter basis, real GDP growth was 5.31%, while the fourth quarter growth performance implied that real GDP grew at an annual growth rate of 1.93% in 2018, compared to 0.82% recorded in 2017, an increase of 1.09% points.
“During the quarter, aggregate nominal GDP stood at N35,230,607.63, which is higher than N31,275,354.08 recorded in fourth quarter of 2017, a nominal growth rate of 12.65%.
“For 2018, nominal GDP was therefore recorded at N127,762,545.58 representing a nominal growth rate of 12.36% when compared to N113,711,634.61 recorded in 2017,” it said.