Nigeria’s GDP Records 3.11% Growth In First Quarter

In its latest report published on Monday, the NBS revealed that the figure showed sustained positive growth for the sixth consecutive quarter since the recession witnessed in 2020 when negative growth rates were recorded in quarters two and three of that year.
 
“The first quarter 2022 growth rate further represents an improvement in economic performance,” the report said. “The observed trend since Q4 2020 is an indication of gradual economic stability.
 
“The Q1 2022 growth rate was higher than the 0.51 per cent growth rate recorded in Q1 2021 by 2.60 per cent points and lower than 3.98 per cent recorded in Q4 2021 by 0.88 per cent points. Nevertheless, quarter-on-quarter, real GDP grew at -14.66 per cent in Q1 2022 compared to Q4 2021, reflecting a lower economic activity than the preceding quarter…
 
More details through:
https://www.channelstv.com/2022/05/23/nigerias-gdp-records-3-11-growth-in-first-quarter/
https://www.thecable.ng/nbs-nigerias-economy-grew-by-3-11-in-q1-2022
https://businessday.ng/technology/article/telecoms-lifts-nigerias-q1-gdp-to-most-in-7-years/