Nigeria’s GDP has grown 2.38 per cent in real terms within the fourth quarter of 2018, showing a 0.27 per cent jump over the fourth quarter of 2017.

- The Real GDP growth posted 5.31 per cent on a quarter-on-quarter basis, with an annual growth rate of 1.9 per cent printed for the fiscal year of 2018.
- While the aggregate nominal GDP was at NGN 35.230bn, a higher 12.6 per cent from NGN 31.275bn recorded in the fourth quarter of 2017.
- Nigeria’s nominal GDP for fy 2018 was at ngn127.76bn, posting a nominal growth rate of 12.36% above fy 2017 level of NGN 113.71bn

In the fourth quarter of 2018, Nigeria’s Gross Domestic Product (GDP) grew by2.38% in real terms (year-on-year). This represents an increase of 0.27% points when compared to the fourth quarter of 2017 which recorded a growth rate of 2.11%. It also indicates a rise of 0.55% points when compared with the growth rate recorded in Q3 2018. On a quarter on quarter basis, real GDP growth was 5.31%.  

The fourth quarter growth performance implies that real GDP  grew at an annual growth rate of 1.93% in 2018, compared to 0.82% recorded in 2017, an increase of 1.09% points. 

During the quarter, aggregate nominal GDP stood at N35,230,607.63 million, which is higher than N31,275,354.08 million recorded in Q4 2017, a nominal growth rate of 12.65%. For 2018, nominal GDP was therefore recorded at N127,762,545.58million representing a nominal growth rate of 12.36% when compared to N113,711,634.61million recorded in 2017.

The Nigerian economy has been classified broadly into the oil and non-oil sectors.

The Oil Sector 

In the fourth quarter of 2018, the average daily oil production stood at 1.91 million barrels per day (mbpd). This was lower than the 1.95 mbpd recorded in the same quarter of 2017, and 1.94mbpd in Q3 2018.   

The oil sector recorded a real GDP growth rate of –1.62%  (year-on-year) in Q4 2018, indicating a decline of –12.81% points relative to the growth rate recorded in the corresponding quarter of 2017. However, when compared to Q3 2018, growth increased by 1.29% points. On an annual basis, real GDP growth for the oil sector stood at 1.14% as against 4.69% recorded in 2017.  

The Oil sector contributed 7.06% to real GDP in Q4 2018, down from figures recorded in the corresponding period of 2017 and the preceding quarter, where it contributed 7.35% and 9.38% respectively. For 2018, the contribution of the oil sector to aggregate real GDP was 8.60%, slightly lower when compared with 8.67% in 2017.

The Non-Oil Sector 

The non-oil sector grew by 2.70% in real terms during the fourth quarter of 2018.  This is 1.25% points higher than the growth rate recorded in Q4 2017, and 0.38% points higher than the growth rate recorded in Q3 2018. On an annual basis, the non-oil sector recorded a growth rate of 2.00% in 2018, performing considerably better than 0.47% seen in 2017. The key performing activities during the quarter were Information and communication, Transportation & Storage, Arts & Entertainment, Agriculture and Manufacturing.  

The Non-Oil sector contributed 92.94% to real GDP in the fourth quarter of 2018, slightly higher than the 92.65% seen in Q4 2017. For 2018, the annual contribution was recorded at 91.40% against 91.33% in the year 2017. Key performing activities on an annual basis include Transport, Information & Communication, Electricity, Water, as well as Arts & Entertainment.  

SOURCE: https://brandspurng.com/2019/02/12/nigerias-gdp-grows-2-38-in-fourth-quarter-of-2018/

Nice one.

- The Real GDP growth posted 5.31 per cent on a quarter-on-quarter basis, with an annual growth rate of 1.9 per cent printed for the fiscal year of 2018.


- While the aggregate nominal GDP was at NGN 35.230bn, a higher 12.6 per cent from NGN 31.275bn recorded in the fourth quarter of 2017.

- Nigeria’s nominal GDP for fy 2018 was at ngn127.76bn, posting a nominal growth rate of 12.36% above fy 2017 level of NGN 113.71bn

From this day till 16th February, I'll be clamouring for APC . To all those who will feel disappointed please bear with me. Change is the only constant thing in life. I don't trust anyone any more. Pls follow me and let's clamour for APC (Atiku Please Come).
Date is 16th February and venue is at your polling unit. Come out and vote.

Sai Baba. Despite earning 60% less than Jonathan due to fall in the price of crude oil from 110 dollars per barrel under Jonathan to a paltry 50 dollars under APC administration yet Buhari has done much more. Baba 2much projects, na next level we dey go jare. God bless Buhari.





Jonathan sank us into recession by looting us dry during the time of plentiful.

Despite Buhari administration earning 60% less yet he's come up with plenty projects such as

Our railways at itakpewarri, Lagos-ibadan, kaduna-abuja etc,

The production of low cost fertilizers,

Zik maoseleum

Baro inland port,

Rice mills,

Foreign reserve increase from #26b to #43b,

Construction of our express highways such as enuguonitsha, Lagos-ibadan etc.

Social policy schemes such as tradermoni, npower etc

And most especially, stabilizing us through this recession which happened because jonathan failed to save despite earning 60% more than Buhari coupled with the fall in the price of crude oil from #110 per barrel in 5 years under Jonathan to a paltry #50 per barrel under Buhari administration yet Buhari was able to keep us afloat while having many projects to his name thereby surprising Ngozi Iweala and Charles Soludo who predicted recession because jonathan failed to save during the time of plentiful.

Sai Baba. PDP, Neva again.

Sai baba!

Those of us who supports this government believe there's a genuine effort to get this country working and rescue it from the path of destruction and collapse it has been set for 16 years. Only those who benefit from the flaw and failure of the system are calling for a return to the old order.


I do not believe at this point that there's that leadership driven by honesty that I can dream of that's more than the one being headed by Buhari.


May God bless him and his entire team.

Don't mind what the children of hate. They would come here to say later. They choose what to believe. If the same agency says otherwise, they'd applaud them. But they turn facts on their heads when it doesn't go their way.


Useless things...

Really ??

The truth is, Buhari has achieved more in four years with fewer resources than PDP achieved in 16 years. The ongoing rail constructions across the country, the completion of airports' projects, the 2nd Niger Bridge, power projects etc. The problem Buhari has is his name. Ethnoreligious bigots hate that he is Hausa/Fulani. Some even hate him just because of the prospect of a possible Osinbajo presidency in 2023. Nothing more.

n

The Nigerian economy has been gradually growing in the PMB administration. We are voting Buhari to continue the good work.


Atiku and Obi are liars after all the looting in the PDP administrations the economy was already headed for recession. Okonjo-Iweala, HRH Sanusi and Soludo even warned the Jonathan government. Atiku said GDP growth rate was 6% when GEJ left the seat of power. Big lie the GDP growth was already down to 2.35% in May 2015. The GDP growth rate was falling at an alarming rate because of bad governance and that’s why GEJ was happy to leave because he knew hard times were coming.

Atiku and PDP can only deceive people who are sentimental and people who don’t study or double-check facts.

Atiku back to sender is a must. He can be president of his village not Nigeria. He has nothing to offer. PMB till 2023.

All lies from the pit of hell.... it shall not be well with the person cooking this shiit 3 days to elections.

I remain Atikulated.

I don't care whether babachir is in EFCC custody or not.

Like if your Atikulated, Don't like if you are a Foolharist!

Oh yes I'm looking for likes and so what?

Atiku is my president.

Sorry, but we can't feel this sh!t
GDP It's growing in their pocket only

Zangazanga:
From this day till 16th February, I'll be clamouring for APC . To all those who will feel disappointed please bear with me. Change is the only constant thing in life. I don't trust anyone any more. Pls follow me and let's clamour for APC (Atiku Please Come).
Date is 16th February and venue is at your polling unit. Come out and vote.

Slavery of the highest order but I don’t blame you I just pity your children because I’m sure they would be ashamed of your existence as a father

GDP growth that doesn't reflect on the life of the citizens

Caseless:
Sai baba!

Those of us who supports this government believe there's a genuine effort to get this country working and rescue it from the path of destruction and collapse it has been set for 16 years. Only those who benefit from the flaw and failure of the system are calling for a return to the old order.


I do not believe at this point that there's that leadership driven by honesty that I can dream of that's more than the one being headed by Buhari.

May God bless him and his entire team.

True talk bro.

Whoever loves Buhari loves truth and hardwork.

That some Zombies are hungry or not happy Buhari is not fixing PDP mess very fast, is not reason to hand the Nation back to them.

If Nigerians are honest, they will see reasons to vote PMB over again.

As we endured the 16yrs of destruction by PDP, we're ready to tolerate another 4yrs of repairs and reforms by APC.

Vote President Buhari for continuity.

His good works must continue till 2023.

Hit like for Atiku

Share for Buhari

This is a bad news for atikulooting crew,God bless Nigeria,Higher higher we go

Not for Nigerians but for politicians.

If I no vote Buhari wetin I gain?

vote for atiku & ur CGPA will rise to 4point, trust me on this one #like_4_atiku jor

This is a good news worth sharing.....leave politics and religious sentiments alone...

Tooth Pick Growth.

Go check the profit and loss reports of banks, firms like Dangote cement and multinationals. Tell yourself the truth, if a bank grows it's total balance sheet by 2%, will the management celebrate?

Example, your salary was N50,000 in 2018 and N51,000 in 2019.

Is that Worth celebration? Mental blindness is a disease.

EloquentMedia:
n

power

Anaemic growth, there's nothing to celebrate here, before 2015 our growth was at 7%, APC promised 10% growth but wants us to celebrate this? Buhari and his bad economic management must go.

How does these figuures affect the life of an ordinary man on the street.....can somebody help us translate please coz all we see is growth on papers only.

The wailing Atikulooters are nowhere to be found On the thread. Thieving bunch.

Lol

14. Making our economy one of the fastest-growing emerging economies in the world with a real GDP growth averaging 10% annually. [In another instance, the APC promised 10-12% annual GDP growth]

APC mocked PDP's 6% growth promised 10-12% and can only manage 1.2-2.38% growth.

And they are celebrating?



https://www.thecable.ng/documented-promises-buhari-apc-made-nigerians