Nigerian Economy grew by 2.55% in Q4 2019 –NBS

The Nigerian economy expanded by 2.55% at the end of last quarter of last year, compared to the corresponding period of 2018.

This is contained in the latest report by the National Bureau of Statistics (NBS) released on Monday morning.

When set beside the growth rate of Q4 2018, which stood at 2.38%, the Q4 2019 figure recorded an increase of 0.17% year on year.

The 2019 Gross Domestic Product (GDP) growth rate of 2.55% translated to a 0.27% increase over the third quarter GDP of the year under review.

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“The strong fourth quarter 2019 growth rate also represented the highest quarterly growth performance since the 2016 recession.

“Overall, this resulted in annual 2019 real growth rate of 2.27%, compared to 1.91% in 2018. Quarter on quarter, real GDP growth was 5.59%,” the NBS.

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