Nigeria's Gross Domestic Product (GDP) grew by 1.87 percent (year-on-year) in the first quarter of this year, the National Bureau of Statistics (NBS) has said.
In a posting on its website on Monday accessed by The Nation, NBS said the performance was recorded against the backdrop of significant global disruptions, resulting in a sharp fall in prices and restricted international trade arising from the COVID-19 public health crisis.
It said the Q1 2020 performance represented a -0.23 percent point drop compared with Q1 2019, and 0.68 percent point dip relative to Q4 2019, adding that this was a reflection of the earliest effects of disruption, particularly on the non-oil economy. In the review period, the NBS report indicated that quarter-on-quarter real GDP growth was -14.42 percent compared to 5.59 percent recorded in the preceding quarter…
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