Nigeria’s GDP grows 2.01% in Q1 2019

Nigeria’s Gross Domestic Product (GDP) grew by 2.01%(year-on-year), in real terms, in the first quarter of 2019, according to a report released on Monday by the National Bureau of Statistics (NBS)

The Q1 2019 growth rate represented an increase of 0.12% points compared to the first quarter of 2018, which recorded real GDP growth rate of 1.89%

However, relative to the preceding quarter (fourth quarter of 2018), real GDP growth rate declined by -0.38% points.

Read also: Insecurity has chased investors from northern Nigeria —Chamber of Commerce

The report noted that the growth may not be unconnected to the 2019 general elections.

Aggregate GDP stood at N31,794,085.85 million in nominal terms compared to N28,438,604.23 million in 2018.

The aggregate was, however, lower than in the preceding quarter of N35,230,607.63 million, by -9.75%.

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