Nigeria’s GDP Drops As Oil Sector Decreases

The Gross Domestic Growth in the oil sector has declined to -2.40% in Q1 2019.

This was disclosed in the latest Nigerian GDP report released by the National Bureau of Statistics on Monday.

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The report, however, indicates a -16.43% decrease compared to the corresponding quarter of 2018.

Growth also decreased by -0.79% when compared to Q4 2018 which was -1.62%.

Following the contract in oil production growth, the Nation’s GDP also decreased to 2.01% from 2.38% in Q4 2018.

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