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BREAKING: Nigeria’s economy surpasses IMF’s projection, grows by 2.27%

Nigeria’s Gross Domestic Product (GDP) grew by 2.55% in real terms, in the fourth quarter (Q4) of 2019, up from 2.38% growth recorded in the fourth quarter of 2018. This means there was a 0.17% point increase in the growth of the Nigerian economy (year-on-year).

According to the data released by the National Bureau of Statistics (NBS), the growth recorded in Q4 2019 represents the highest quarterly growth performance since the 2016 recession.

Meanwhile, the Nigerian economy grew by 2.27% annually compared to 1.91% in 2018 with a quarter on quarter growth of 5.59%.

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