Following the 1.93 per cent Gross Domestic Product (GDP) growth recorded by Nigeria in 2018, as against the 0.82 per cent achieved the previous year, the presidency yesterday beat its chest, saying it is evidence that the President Muhammadu Buhari administration’s economic policy is working.
But analysts have told THISDAY that the outcome only signals the need for increased investments in the country in order to achieve better and sustainable growth.
According to Nigeria’s GDP report for the fourth quarter and full year 2018 released by the National Bureau of Statistics (NBS) yesterday, Nigeria’s Gross Domestic Product (GDP) growth rate increased to 2.38 per cent (year-on- year) in the fourth quarter of 2018 (Q4, 2018).
This indicated a 0.55 percentage rise compared to the 1.81 per cent growth recorded in the preceding quarter.
This also represented an increase of 0.27 per cent when compared to the 2.11 per cent growth rate recorded in the fourth quarter of 2017.
According to the report, on a quarter-on-quarter basis, real GDP growth was 5.31 per cent.
ThisDay, Wednesday 13, February.
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