The positive growth trajectory recorded by Nigeria’s economy up to the 3rd quarter of 2021, has been broken with the 4th quarter recording a Gross Domestic Product (GDP) growth rate of 3.98 per cent.
This figure is lower than the 4.03 per cent growth rate recorded in Q3, 2021.
However, analytically, it is not when viewed in terms of the base effect of the corresponding period in Q4 of 2020 when the economy recorded a GDP growth rate of 0.11 per cent as against the growth rate recorded in Q3 of the same year which was -3.62 per cent.
The statistician-general of the Federation and Chief Executive Officer of the National Bureau of Statistics (NBS) Dr Simon B. Harry, who disclosed this Thursday in Abuja, stated that the improvement is seen in the output growth in the last five quarters depicts steady progress made in stemming the COVID-19 pandemic and the associated negative impact on livelihood, well-being, and the economy.
Details later…
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Nigeria’s economy records 3.98% GDP growth in Q4
and then