L
LequteMan
Guest
Nigeria for the first time in 2015 has reported its first Gross Domestic Product (GDP) growth.
Recent data from the National Bureau of Statistics shows that the country had a GDP growth of 2.84% in real terms in the third quarter (during the month of July to September 2015). This reflects a 0.49% increase from the second quarter.
The data shows the oil sector up 1.06 in the third quarter and better than the second quarter by 14.35%. The oil sector contributed 10.27% to Nigeria’s total real GDP.
The latest statistics also shows agriculture output higher by 3.46%, manufacturing stronger by 4.80%, while trade and services grew by 14.68% in nominal terms during the period under review.
Nigeria’s economy returns to growth as inflation also drops at 9.3% in October.
Recent data from the National Bureau of Statistics shows that the country had a GDP growth of 2.84% in real terms in the third quarter (during the month of July to September 2015). This reflects a 0.49% increase from the second quarter.
The data shows the oil sector up 1.06 in the third quarter and better than the second quarter by 14.35%. The oil sector contributed 10.27% to Nigeria’s total real GDP.
The latest statistics also shows agriculture output higher by 3.46%, manufacturing stronger by 4.80%, while trade and services grew by 14.68% in nominal terms during the period under review.
Nigeria’s economy returns to growth as inflation also drops at 9.3% in October.
