Gross Domestic Product(GDP) Increase in Nigeria for 2nd quarter of 2018

Nigeria’s Gross Domestic Report (GDP) has grown 1.50% in the second quarter vs. 1.95% in the first quarter of 2018.

According to the GDP report released by the National Bureau of Statistics (NBS), the second quarter GDP is driven by the non-oil sector 2.05% growth indicating an increase in the second quarter of 2018.

“In the second quarter of 2018, Nigeria’s Gross Domestic Product (GDP) grew by 1.50% (year-on-year) in real terms to N16.58trillion.

“Growth in Q2 2018 was 0.79% points higher when compared to the second quarter of 2017 which recorded a growth of 0.72%, but –0.45% points slower than 1.95% recorded in the first quarter of 2018.

“On a quarter on quarter basis, real GDP growth was 2.94%,” the NBS report read in part.

The transportation sector led non-oil GDP Growth with 21.76% while the Agriculture GDP up 1.3% lower 3% in the first quarter of 2018.

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