Nigeria has officially get out of recession - Welcome to Julia Blaise Blog

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Tuesday, 5 September 2017

Nigeria has officially get out of recession

Nigeria has officially recovered from recession for the very first time in 25 years, as it's GDP has grown positively in second quarter of 2017.


It comes after five consecutive quarters of contraction, says Nigeria's National Bureau of Statistics.

"This growth is 2.04 percent higher than the rate recorded in the corresponding quarter of 2016 ( –1.49 percent) and higher by 1.46 percent points from the rate recorded in the preceding quarter, (revised to –0.91 percent from –0.52 percent). Quarter on quarter, real GDP growth was 3.23 percent," the NBS said in the Q2 2017 GDP report.

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