The country’s Gross Domestic Product grew by 1.81 per cent in the third quarter of 2018.
According to a report released by the National Bureau of Statistics (NBS) on Monday, this is an improvement of 0.31 per cent on the 1.50 per cent growth recorded in the second quarter.
The report states further, “The nation’s Gross Domestic Product (GDP) grew by 1.81 per cent (year-on-year) in real terms in the third quarter of 2018. Compared to the third quarter of 2017 which recorded a growth of 1.17 per cent there is an increase of 0.64 per cent points.”
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“The second quarter of 2018 had a growth rate of 1.50 per cent showing a rise of 0.31 per cent points. Quarter on quarter, real GDP growth was 9.05 per cent.
“In the quarter under review, aggregate GDP stood at N33,368,049.14 million in nominal terms. This performance is higher when compared to the third quarter of 2017 which recorded a GDP aggregate of N29,377,674.03 million thus, presenting a positive year on year nominal growth rate of 13.58 per cent.
“This growth rate is higher relative to growth recorded in the third quarter of 2017 by 2.88 per cent points and higher than the preceding quarter by 0.01 per cent points with growth rates of 10.70 per cent and 13.57 per cent respectively.”
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