The National Bureau of Statistics (NBS), said the nation’s Gross Domestic Product (GDP) grew by 2.01 per cent (year-on-year) in real terms in the first quarter of 2019.

The NBS said this in its “Nigeria GDP Report for First Quarter 2019’’ released on Monday in Abuja.

According to the NBS, the figure is 0.12 per cent higher than the growth rate of 1.89 per cent recorded in the first quarter of 2018.

It, however, said the figure, relative to the fourth quarter 2018, showed a decline by -0.38 per cent points.

According to the bureau, the strong performance recorded in the quarter may be due to general elections held within the first quarter of 2019.

It said the aggregate GDP stood at N31,79 million in nominal terms.

The bureau said the figure was higher than N28,43 million recorded in the first quarter of 2018, representing a year-on-year nominal growth rate of 11.80 per cent.

According to the NBS, the aggregate is, however, lower than the preceding quarter of N35,23 million by -9.75 per cent.

It said the nominal GDP growth rate in the first quarter was also higher than the rate recorded in the first quarter of 2018 by 2.54 per cent points.

The bureau said the Nigerian economy had been classified broadly into the oil and non-oil sectors.

Quarterly National Accounts (QNA) are an integrated system of macroeconomic accounts designed to describe the entire system of production in a nation on a quarterly basis.

They provide a picture of the current economic status of an economy on a more frequent basis than Annual National Accounts (ANA).

In providing a reasonable level of detailed information of the economy, QNA allows the government to regularly access, analyse and monitor economic developments.

Source: https://leadership.ng/2019/05/20/nigerias-gdp-up-by-2-01-in-q1-2019-nbs/amp/

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Not exactly where we should be and start feeling the impact of the present government policies. It is however a positive growth which shows that there is a rallying efforts from the government to sustain the growth trajectory that brought us out of recession. My happiness is that any growth recorded now shows real growths in nominal terms than just rebasing the economy as is being touted by the government.

The growth is very weak. The industrial sector is the main reason. The mining sector and manufacturing sector are on decline. Then rail transport sector dropped 6%. Maybe that will change during the year if NRC is ready to do business.

contigiency:
Not exactly where we should be and start feeling the impact of the present government policies. It is however a positive growth which shows that there is a rallying efforts from the government to sustain the growth trajectory that brought us out of recession. My happiness is that any growth recorded now shows real growths in nominal terms than just rebasing the economy as is being touted by the government.

This is very poor. By now, Nigeria should at least be growing by 6%. 2.01% is not even up to the population growth rate of 2.6% which means the average Nigerian was -0.59% poorer.

Bloomsberg , a financial institution has predicted yearly growth rate in Nigeria over the next 4years will average 2.5% yearly. That means on average over the next 4years, per capita income will decline by -0.1% yearly.

This is a disgrace, no thanks to Buhari's exchange control policies such as the pegged exchange and the multiple exchange rates that operates today. The pegged exchange rate sank the economy into a severe recession by starving it of much needed dollars.

The multiple exchange screams quackery to investors and is a disincentive to invest.The economy can only start a well deserved recovery when Buhari steps down and the bad policies he introduced are done away with

All these nonsense about GDP is APC fraud. The reality is that people are hungry and thousands are losing jobs daily, businesses are folding up daily and unemployment rate is high. Dollar is still N360 to Naira....i can go on and on. Eyin wehrey APC

Not bad

GDP??
This country still get GDP self??
Mtcheww

Good news.

Slow and steady we will get to a New Nigeria

Zoogeria crew food don land
Free for sifia bashing

If we compare am with the rest of west African countries now, we go know sey something is wrong with 9ja.

Mtewwwww

Lol APC has started..lai and jubril

Princedapace:
We only hope for more growth
Few more to go, kindly help further. Thank u so far

Nairalanders, a very good friend of mine is doing her PhD and she needs our help. She needs us to help answer her survey questions which is part of her course requirements. It is an online survey from university of Florida and it won't take more than five minutes of your time.
Pls, let help a sister to meet part of her course requirements. If you are led and you care to help, simply visit the survey form here:

Hello dear. I am conducting a study to test the role of chemists or road side drug sellers in determining drug competency in Nigeria. Please follow this link and help me take a quick survey https://ufl.qualtrics.com/jfe/form/SV_0jNcmnnAygN1BYx

Thank you so much for your help.

I just did my for u but the questions are just annoying

God bless President Buhari. Haters of progress will never know peace

ClearFlair:
God bless President Buhari. Haters of progress will never know peace

God bless PMB. Just wanted to say that, hrm, GDP numbers are indicative of how well a country is run and the prospects for opportunities for its youths... to wit:

2011 5.31%
2012 4.21%
2013 5.49%
2014 6.22%
2015 2.79%
2016 -1.58%
2017 -0.82%
2018 1.93%

If we see 5% growth anytime during PMBs second tenure, I would be very surprised (albeit pleasantly).

Lies ....

Emphasis on “increase”


Last last Naija go de alright

#nextlevel

Nice post thanks for sharing

ClearFlair:
God bless President Buhari. Haters of progress will never know peace

Wat u don't get is even if it grows by 1000% if it doesn't affect the average Nigerian it's means nothing.

American President - Donald Trump explains his statement against Africans:

"If after 50 years of independence you have not built the necessary infrastructure for your people, are you humans?

"If you sit on gold, diamond, oil, manganese, uranium... and your people don't have food, are you humans?

"If to stay in power, you buy weapons from strangers to kill your own citizens, are you humans?

"If your only social project is to stay in power for life, are you being human?

"If you despise and shoot your own citizens like game, who will respect them?"
https://m.facebook.com/story.php?story_fbid=680415358989513&id=679943882369994

"if you take all resources meant for development of your country for personal property are you humans?

" if you leave your country healthcare unattended and treat yourself abroad are you humans?

"Until your leaders think less of themselves and more about your people. You are not human but animal.

Automatic3444:



I just did my for u but the questions are just annoying

Thank u very much bro

Bruhahahah is working

hisexcellency34:
All these nonsense about GDP is APC fraud. The reality is that people are hungry and thousands are losing jobs daily, businesses are folding up daily and unemployment rate is high. Dollar is still N360 to Naira....i can go on and on. Eyin wehrey APC

e dey pain u gan o, just like me