Business
Nigeria’s GDP grows 2.38% in Q4 of 2018
Nigeria’s Gross Domestic Product, GDP grew by 2.38 percent in the fourth quarter of 2018.
However, the Real GDP growth posted 5.31 per cent on a quarter-on-quarter basis, with an annual growth rate of 1.93 per cent printed for the fiscal year of 2018.
According to the report, the fourth quarter GDP grew by 2.38% as against the 1.81% recorded in the third quarter.
Gross domestic product is the total value of everything produced in the country.
Read also: LCCI kicks against FIRS moves to gag bank accounts of tax defaulters
It is the fourth consecutive quarter of expansion, as the oil sector continued to rise while the non-oil output growth slowed.
The fourth quarter GDP growth is 0.27 percent higher than the corresponding period of 2017.
Also, the aggregate nominal GDP was at N35.230bn; which is 12.65 per cent higher than N31.275bn recorded in the fourth quarter of 2017.
Nigeria’s nominal GDP for the fiscal year of 2018 was at N127.76bn, posting a nominal growth rate of 12.36 per cent above the fiscal year of 2017 level of N113.71bn.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...