May 21 (Lagos) -
Data released by the National Bureau of Statistics shows that Nigeria economy grew in Q1 2018 by +1.95% year-on-year.
This growth is +2.87% higher than -0.91% recorded in Q1 2017, and -0.16% lower than +2.11% (upwardly revised from +1.92%) recorded for Q4 2017.
Quarter on quarter, real GDP growth was -13.40%.
The oil sector grew by +14.77% in Q1 2018, from -15.60% in Q1 2017, and +11.20% in Q4 2017, while the non-oil sector grew by +0.76% in Q1 2018, from +0.72% in Q1 2017, and +1.45% in Q4 2017.
Overall, the Oil sector contributed 9.61% of total real GDP in Q1 2018 from 7.35% in Q4 2017, while Non-oil contributed 90.39% in Q1 2018, from 92.65% in Q4 2017.
reporting for easykobo.com on Monday, May 21 2018 from Lagos, Nigeria