Nigeria’s GDP exceeded expectations last year as the expansion in the non-oil sector offsets the fuel drama   

17 Feb 2022: The Central Bank had predicted a GDP growth of 3.1% for the country, but the GDP grew to 3.4% last year, exceeding expectations. This growth comes from the expansion in the non-oil sector thus offsetting the sharp drop in oil production.

The full-year number was lifted by the economy growing a faster-than-expected 3.98%% in the three months through December from a year earlier. The median estimate of 12 economists in a survey conducted by Bloomberg was for a quarterly number of 1.4%.

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