Nigeria’s economy exited recession in the fourth quarter of 2020, recording its first growth in three quarters as coronavirus-linked lockdown was lifted across the country, the National Bureau of Statistics said in a report Thursday.
The report said Gross Domestic Product (GDP) grew 0.11 per cent in the three months between October and December from a year earlier.
This economy slipped into recession in the third quarter with a decline of 3.6 per cent. The economy had earlier contracted 6.1 per cent in the second quarter, leading to a second recession in five years.
For the full year 2020, the economy contracted 1.92 per cent, better then the International Monetary Fund projection.
More Details Soon…
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
TEXT AD: To advertise here . Call Willie +2347088095401…