Hurray!!! Nigeria Exits Recession As GDP Grows By 0.11%

The Giant of Africa has been declared out of recession as its Gross Domestic Product GDP grows by an 0.11% percent in the fourth quarter of the pandemic year 2020.
A data from the latest report by the National Bureau of Statistics, released on Thursday, shows that the year-on-year growth represents the first positive quarterly growth in the last three quarters.
The NBS, however, stated that the positive growth reflects the gradual return of economic activities following the easing of restricted movements and limited local and international commercial activities in the preceding quarters, although the growth is weak.
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“Nigeria Gross Domestic Product (GDP) grew by 0.11%(year-on-year) in real terms in the fourth quarter of 2020, representing the first positive quarterly growth in the last three quarters. Though weak, the positive growth reflects the gradual return of economic activities following the easing of restricted movements and limited local and international commercial activities in the preceding quarters”, the NBS wrote in its report. See the report here GDP_Report_Q4 & FULL YEAR 2020.Hurray!!! Nigeria Exits Recession As GDP Grows By 0.11%Hurray!!! Nigeria Exits Recession As GDP Grows By 0.11%Photos Credit: Getty/NBS