Nigeria's GDP grows by 2.28% in 3rd quarter of 2019
The National Bureau of Statistics (NBS), says Nigeria’s Gross Domestic Product (GDP) grew by 2.28 per cent (year-on-year) in real terms in the third quarter of 2019.
NBS said this in its “Nigeria GDP Report for Third Quarter 2019’’ released on Friday in Abuja. It explained that when compared to the third quarter of
The NBS said agriculture which had four sub-activities made up the agriculture sector like crop production, livestock, forestry and fishing grew by 14.88 per cent year on year in nominal terms. According to the report, the third quarter showed a decline of -3.44 per cent points from the same quarter of 2018 compared to the preceding quarter growth rate of 17.76 per cent. The above represents a decline of -2.89 per cent points. The crop production remained the largest driver of the sector accounting for 91.6 per cent of the sector in the third quarter of 2019. Quarter on quarter growth stood at 44.12 per cent. Agriculture contributed 25.88 per cent to nominal GDP during the quarter of 2018 and the second quarter of 2019 which recorded 25.52 per cent and 19.39 per cent respectively.’’