Nigeria’s economic growth improves to 2.3% in FY’2019 – Strongest since the recession, The Nigerian Economic Summit Group
Feb 2020

Nigeria’s economic growth improves to 2.3% in FY’2019 – Strongest since the recession

According to the National Bureau of Statistics (NBS), the Nigerian economy grew faster by 2.3% in FY’2019 compared with a growth of 1.9% in 2018. Similarly, the economy expanded by 2.6% in Q4’2019, which represents an improvement over economic growth in the corresponding quarter of 2018 (2.4%) and the third quarter of 2019 (2.3%). It is also the strongest Q4 growth since the recovery of the economy from recession in Q2’2017. In nominal terms, the economy expanded by 12.9% to N144.2 trillion (or $471.2 billion) in 2019 from N127.7 trillion (or $417.3 billion) in 2018. Correspondingly, per capita income grew by 10.1% to $2,258 in 2019 from $2,051 in 2018.


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, The Nigerian Economic Summit Group

, The Nigerian Economic Summit Group