The Gross Domestic Product for the 4th quarter (Q4) 2018 has been released by the National Bureau of Statistics (NBS) and it suggests a positive outlook for the economy.
The GDP earned a 2.38% rise in Q4 2018 from the previous 1.81% rise it had in Q3 2018.
However, there was quite a difference between Nominal and Real GDP with the Nominal standing at 19.04 trillion while the Real GDP stood at 35.23 trillion.
It is Nigeria’s highest rise in GDP since the 4th Quarter of 2017, when the GDP rose to 2.11%.
The GDP suffered a plunge in the second quarter of 2018 (Q2 2018) as businesses plunged across the country, however it rose in the third quarter and has risen further in the 4th.
Nigeria’s GDP has further risen from a growth rate of 0.82% in 2017 to 1.98% in 2018, after the deep plunge experienced in 2016.
The GDP is an instrument used to assess the viability of an economy.