Economy: Nigeria record growth by 2.27% in 2019 – NBS

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The National Bureau of Statistics (NBS) has today released the Gross Domestic Product report for the 2019 fiscal year indicating the economy rising by 2.27 per cent in the 2019 physical year.

 

The annual GDP growth rate of 2.27 per cent according to the NBS, represent an increase of 360 basis points over the growth rate of 1.91 per cent recorded the previous year.

It was also noted from the report that during the fourth quarter of 2019, Nigeria recorded a growth of GDP by 2.55 per cent consistently in year on year real terms.

Unlike the GDP growth recorded during the year 2018 which was at 2.38 per cent, that of the year 2019 indicates an increase by 0.17percent point.

Meanwhile, the fourth quarter of 2019 growth rate, the NBS noted also being the highest quarterly growth recorded performance since the year 2016 recession.

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