Welcome to Street Journal Forum, Our motto is "We Disagree To Agree", you can have an open discussion here on anything, you can respond to Topics freely. Upload pictures you want to share and please invite your friends!

Economy grew by 1.95% in Q1 2018 – NBS

We Disagree To Agree.....Let discuss everything!
Wsj
Posts: 28677
Joined: Fri Apr 15, 2016 8:31 pm

Economy grew by 1.95% in Q1 2018 – NBS

Unread postby Wsj » Mon May 21, 2018 12:52 pm

Nigeria’s Gross Domestic Product grew by 1.95 per cent year-on-year in real terms in the first three months of this year.

The National Bureau of Statistics stated this on Monday in its GDP report for the first quarter of 2018.



“This shows a stronger growth when compared with the first quarter of 2017 which recorded a growth of -0.91 per cent, indicating an increase of 2.87 per cent points,” the NBS said.

It said compared to the preceding quarter, there was a decline of -0.16 percentage points from 2.11 per cent.

“Quarter on quarter, real GDP growth was -13.40 per cent,” the bureau said, adding that the oil production estimates for the third and fourth quarters of 2017 had been revised and oil GDP for those quarters had been adjusted accordingly.

The NBS said, “Still on the first quarter of 2018, aggregate GDP stood at N28,464,322.01m in nominal terms. This performance is higher when compared to the first quarter of 2017, which recorded a nominal GDP aggregate of N26,028,356.03m, thus presenting a positive year-on-year nominal growth rate of 9.36 per cent.

“This rate of growth is, however, lower relative to growth recorded in Q1 2017 by -7.70 per cent points at 17.06 per cent but higher than the proceeding quarter by 2.14 per cent points at 7.22 per cent. To give a clearer depiction, the Nigerian economy has been classified broadly into the oil and non-oil sectors.”


credit: punch


Return to “Enter forum disscussion”

Who is online

Registered users: AbakbakoPah, AldenKi, BrantBof, DerikSi, Google [Bot], Hermanskync, JerodKr, KevenBal, Majestic-12 [Bot], RidgeBiaf

Disclaimer: Opinions expressed in comments are those of the comment writers alone and does not reflect or represent the Publisher's views.

Login · Register

In total there are 40 users online :: 10 registered, 0 hidden and 30 guests
Registered users: AbakbakoPah, AldenKi, BrantBof, DerikSi, Google [Bot], Hermanskync, JerodKr, KevenBal, Majestic-12 [Bot], RidgeBiaf
Most users ever online was 111 on Wed Mar 28, 2018 9:13 pm
Total posts 34346
Total topics 29041
Total members 1836
Our newest member ChiYewen
No birthdays today