Nigeria records 3.54% GDP growth in Q2 2022

2

 

The Nigerian economy grew by 3.54 percent year-on-year in real terms in the second quarter of 2022, the National Bureau of Statistics said on Friday in its latest Gross Domestic Report.

 

This is an improvement from the 3.11 percent growth recorded in the previous quarter.

 

On a year-on-year basis, NBS said the second quarter of 2022 growth rate decreased by 1.47 percent points from the 5.01 percent growth rate recorded in the corresponding quarter in 2021.

 

According to the report, the non-oil sector GDP grew by 4.77 percent in real terms but was lower by 1.97 percent points compared to the rate recorded same quarter of 2021 and 1.31 percent points lower than the first quarter of 2022.

 

The oil sector economy declined with a 11.77 percent dip year-on-year in Q2 2022, compared to a contraction of 26.04% recorded in Q1 2022.

(ChannelsTV)

2 thoughts on “Nigeria records 3.54% GDP growth in Q2 2022

  1. 445575 860091Hello there, just became alert to your weblog through Google, and discovered that its truly informative. Im gonna watch out for brussels. I will appreciate in the event you continue this in future. Lots of individuals will probably be benefited from your writing. Cheers! xrumer 97206

Leave a Reply

Your email address will not be published. Required fields are marked *