The National Bureau of Statistics, NBS in the National Gross Domestic Product report of the Q4 of 2021 disclosed that Nigeria’s economy grew by 3.4%.
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The upward trend of the growth in Gross Domestic Product is the fifth consecutive growth since the terrible fall in the Q2 and Q3 2020 pandemic year. The report says that this growth was 0.11% better than that recorded in Q4 2020 and 0.05% points lower than the Q3 of 2021.
With the 9.63% growth in the quarter on quarter of the Q4 in 2021 than that of Q3, the report shows an increase in economic activities. Also, the nominal growth recorded in Q4 2021 is higher than that of Q4 of 2020, but lower than that of Q3 2021. This report considered both the oil sector and non-oil sector in judging Nigeria’s economy.