Q4 GDP rose by 2.38%, beats estimates   


Feb 12 (Lagos) - Data released by the National Bureau of Statistics shows that the Nigerian economy grew in Q4 2018 by +2.38% year-on-year. This growth is +0.27% higher than +2.11% growth recorded in Q4 2017, and +0.57% higher than +1.81% growth recorded for Q3 2018. Quarter on quarter, real GDP growth was +5.31%. The oil sector contracted for a 3rd consecutive quarter, by -1.61% in Q4 2018, from +11.20% in Q4 2017, and -2.91% in Q3 2018, while the non-oil sector grew by +2.70% in Q4 2018, from +1.45% in Q4 2017, and +2.32% in Q3 2018. Overall, the Oil sector contribution dropped to 7.06% of total real GDP in Q4 2018 from 9.38% in Q3 2018, while Non-oil contribution rose to 92.94% in Q4 2018, from 90.62% in Q3 2018.
reporting for easykobo.com on Tuesday, Feb 12 2019 from Lagos, Nigeria
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