Nigeria’s GDP Records 0.51% Growth in Q1

 Nigeria’s GDP Records 0.51% Growth in Q1

Nigeria’s real Gross Domestic Product (GDP) grew by 0.51 per cent in the first quarter of the year (Q1 2021) compared to 0.11 per cent in Q4 2020 & 1.87 per cent in Q1 2020, the National Bureau of Statistics (NBS) said Sunday.

Oil GDP contracted -2.21 per cent in Q1 compared to a contraction of 19.76 per cent in Q4 2020 and growth of 5.06 per cent in Q1 2020

According to the GDP estimates for Q1 2021, which was released by the statistical agency, non-oil GDP grew 0.79 per cent in Q1 compared to 1.69 per cent in Q4.

Ayomide Oyewole

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.