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Research Document: NESG GDP Q3 2020


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Posted Mon, Nov 30, 2020 2:08 PM

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On the 21st of November 2020, the National Bureau of Statistics (NBS) published the much-awaited Gross Domestic Product (GDP) figures for the third quarter of 2020 (Q3'2020). The report revealed that the Nigerian economy declined by 3.62% Year-on-Year (YoY) in Q3'2020. With this contraction, the economy has slid into another economic recession following two consecutive quarters of negative GDP growth (the economy contracted by 6.1% in Q2'2020). Aside from COVID-19, issues of FX market illiquidity, rising inflation, lower real consumer demand and tough business environment are factors that triggered the current recession. Download to learn more

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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).