Nigeria’s real GDP growth advanced by 0.31% to 1.81% in Q3’18, reversing the slowdown in Q2. This was spurred by an improvement in the non-oil sector growth which increased for two consecutive quarters to 2.3%.
The petroleum sector, which is a catalyst of growth, recorded an improvement over the last quarter even though it remains in the negative region at –2.91%.
Cumulatively, Nigeria is growing at an average of 1.75%. To achieve the IMF’s projection of 1.9% in 2018, the economy will need to grow by at least 2.4% in Q4.
In the attached bulletin, the FDC Think-Tank analysis the GDP numbers for Q3 and its implications.
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