Breaking: Nigeria’s GDP Records Growth Of 1.94% In Q2 2019 – DETAILS

Nigeria’s Gross Domestic Product (GDP) grew by 1.94% in real terms, in the second quarter (Q2) of 2019, when compared to 2.10% growth recorded in the first quarter (Q1). This means the economy declines by 0.16% points with the quarter.

According to the data just released by the National Bureau of Statistics (NBS), year on year, the Nigerian economy grew by 1.94% in Q2 2019, when compared to the corresponding growth of 1.50% in Q2 2018. This indicates an increase of 0.44% points between Q2 2018 and Q2 2019.

A quick breakdown shows that the Oil sector grows by 5.15% from contraction in the previous quarter, while Non-oil GDP slows down by 1.64% in Q2 2019.

More details shortly…