Friday, 19 November 2021 06:02

Nigeria’s economic recovery continues as Q3 GDP grew 4 percent - NBS

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Nigeria’s economy grew more slowly in the third quarter of the year than it did in the second quarter, according to data from National Bureau of Statistics.

Gross Domestic Product growth rate fell to 4.03 per cent in Q3 from 5 per cent in Q2, Statistician-General of the Federation, Simon Harry, disclosed on Thursday.

He said that during the quarter, aggregate GDP was 45.11tn in nominal terms, an increase of 15.41 per cent over the performance in the corresponding period of 2020.

Harry explained that the base effect of the negative economic growth recorded in Q2 and Q3 2020 as a result of Covid-19 pandemic contributed to the growth in GDP in 2021.

He added that the current growth trend can be sustained with strict adherence to safety measures effected to control the spread of the Covid-19 pandemic and other variants of the disease.

 

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