Nigeria finally turned the economic corner into positive growth of 0.55% after 5 consecutive quarters of negative growth and a deep recession
The challenge is that the growth is anaemic and pale compared to the population growth of 2.7%. The good news is that growth was driven by solid performance in oil, energy, financial services and trade. Surprisingly, growth in the electricity, gas & air conditioning supply sector increased from -5.04% to 35.5% which was spectacular.
However, this output expansion is not enough to provide for the 14,000 new babies born every day in Nigeria.
Attached are 2 documents which are a PowerPoint presentation on Channels TV Business Morning Program by Bismarck Rewane and a detailed report on the analysis of the GDP figures by the FDC Think-Tank.
Enjoy your read!