NESG 2019 GDP by Expenditure Alert May 2020,The Nigerian Economic Summit Group, The NESG, think-tank, think, tank, nigeria, policy, nesg, africa, number one think in africa, best think in nigeria, the best think tank in africa, top 10 think tanks in nigeria, think tank nigeria, economy, business, PPD, public, private, dialogue, Nigeria, Nigeria PPD, NIGERIA, PPD, The Nigerian Economic Summit Group
May 2020

GDP by expenditure expanded by 2.2% in FY’2019, as household consumption remained the dominant component According to the National Bureau of Statistics (NBS), real expenditure on gross domestic product (GDP) in 2019 rose by 2.2% to N72.1 trillion from N70.5 trillion in 2018. This represents an improvement in real aggregate expenditure growth relative to its level in 2018 (1.9%). In nominal terms, aggregate expenditure was 12.8% higher at N145.6 trillion in 2019 compared with its level in 2018 (N129.1 trillion). The current growth rate in nominal expenditure is also above its level in 2018 (11.9%). The increase in aggregate expenditure growth, in real and nominal terms, could be partly attributed to higher domestic investments, with other expenditure components exhibiting mixed trends.