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Nigeria’s economy records 1.4% GDP growth rate in third quarter

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The National Bureau of Statistics on Monday released the Gross Domestic Product growth rate for the country with the economy recording a 1.4 percent increase in growth rate in the third quarter of this year.

This is the second consecutive positive growth since the emergence of the economy from recession in the second quarter  2017.

The NBS in the report said the 1.4 percent growth rate in the third quarter is higher than the revised figure of 0.72 percent recorded in the second quarter of this year.

In nominal terms, the NBS in the report put the third quarter aggregate GDP at N29.45tn.

This, it noted, is higher when compared to the N26.53tn nominal GDP recorded in the corresponding third quarter of 2016.

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