Nigeria's GDP grows by 2.28 percent

Nigeria’s Gross Domestic Product (GDP) grew by 2.28%(year-on-year), in real terms, in the third quarter of 2019, says the National Bureau of Statistics, NBS.

The NBS, in its report on Friday said compared to the third quarter of 2018 which recorded a growth of 1.81%, the real GDP growth rate observed in the third quarter of 2019 indicated an increase of 0.47% points.

“Relative to the second quarter of 2019, which recorded a growth rate of 2.12%, Q3 2019 represents an increase of 0.17% points,” it said.

On a quarter on quarter basis, however, the NBS said real GDP grew by 9.23%.

It added that the growth rate in third quarter of 2019 represented the second highest quarterly rate recorded since 2016.