Buoyed by the non-oil sector, the Nigerian economy grew in real terms by 1.92 per cent in the fourth quarter (Q4) of 2017 (year-on-year), maintaining its positive growth trajectory since the emergence of the economy from recession in the second quarter (Q2) of 2017. The latest data released by the National Bureau of Statistics (NBS) also indicated that the economy recorded a real annual Gross Domestic Production (GDP) growth rate of 0.83 per cent in 2017, an improvement over the -1.58 per cent recorded in 2016. With this, Nigeria’s economic growth last year corresponded with the forecast of the Chief Economist of the International Monetary Fund (IMF), Maurice Obstfeld, who had predicted last October that Nigeria’s economy would grow by 0.8 per cent in 2017. "Nigeria is expected to emerge from the 2016 recession caused by low oil prices and the disruption of oil production. Growth in 2017 is […]

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