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Research Document: NESG GDP ALERT 2021


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Posted Fri, Feb 18, 2022 11:42 PM

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The Nigerian economy posted a high real Gross Domestic Product (GDP) growth rate of 3.98 percent in the fourth quarter of 2021, sustaining the strong economic recovery momentum seen in the second and third quarters of the year. Cumulatively, the economy expanded by 3.4 percent in 2021, compared to a contraction of 1.9 percent in 2020. Furthermore, the 2021 full-year real GDP growth represents Nigeria's most robust annual economic expansion since 2017, when the country exited its first recession in the last decade. The strong economic recovery can be attributed to significant improvements in non-oil sector performance and the complete re-opening of the economy to productive activities.

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All text, graphics, audio files, code, downloadable material, and other works on this web site are the copyrighted works of the Nigerian Economic Summit Group (NESG).