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ECONOMY: Nigeria’s Gross Domestic Product Grows By 1.40 % In Third Quarter – NBS

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The National Bureau of Statistics, NBS says the nation’s Gross Domestic Product (GDP) grew by 1.40 per cent year-on-year in real terms in the 3rd quarter.

The NBS stated this in a GDP Report for Third Quarter 2017 released in Abuja on Monday. It stated that the figure showed the second consecutive positive growth since the emergence of the economy from recession in second quarter.

It stated that the growth was 3.74 per cent points higher than the rate recorded in the corresponding quarter of 2016, which was minus-2.34 per cent.

It stated that it was also higher by 0.68 per cent points from the rate recorded in the preceding quarter, which was revised to 0.72 per cent from 0.55 per cent.

The second quarter was revised following revisions by NNPC to oil output and hence led to revisions to Oil GDP.

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