Nigerian Gross Domestic Product Report (Q4 2019)
Nigeria Gross Domestic Product (GDP) grew by 2.55%(year-on-year) in real terms in the fourth quarter of 2019. Compared to the fourth quarter of 2018 which recorded a growth rate of 2.38%, this represents an increase of 0.17% points and an increase of 0.27% points when compared with the third quarter of 2019. The strong fourth quarter 2019 growth rate also represented the highest quarterly growth performance since the 2016 recession (see Figure 1). Overall, this resulted in annual 2019 real growth rate of 2.27%, compared to 1.91% in 2018. Quarter on quarter, real GDP growth was 5.59%.
Data source: National Bureau of Statistics