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.
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.
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