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Nigeria’s economy grew by 1.9pc in 2018

Published : Thursday, 14 February, 2019 at 12:00 AM  Count : 107

LAGOS, Feb 13: Nigeria's economy grew 1.9 per cent in 2018, the National Bureau of Statistics said on Tuesday, just days from an election in which the pace of growth is a campaign issue.
The NBS said gross domestic product (GDP) also rose by 2.38 per cent in the fourth quarter of 2018 compared to the same quarter in 2017. Growth accelerated from the 1.81 per cent expansion in the third quarter.
The government had targeted two per cent growth for last year to boost the fragile economy, which only emerged in 2017 from its first recession in over two decades, triggered by low crude prices and militant attacks on energy facilities.
Oil sales make up two-thirds of government       revenue.
According to Bloomberg, the figures could help President Muhammadu Buhari to convince voters the economy is finally recovering more forcefully from the 2016 recession.    -AFP

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