{"id":2779,"date":"2017-11-20T09:24:35","date_gmt":"2017-11-20T09:24:35","guid":{"rendered":"http:\/\/nigerianews.ca\/?p=2779"},"modified":"2017-11-20T09:26:06","modified_gmt":"2017-11-20T09:26:06","slug":"nigerias-economy-consolidates-on-its-recession-exit-as-q3-2017-gdp-grows-by-1-40","status":"publish","type":"post","link":"https:\/\/nigerianews.ca\/nigerias-economy-consolidates-on-its-recession-exit-as-q3-2017-gdp-grows-by-1-40\/","title":{"rendered":"Nigeria\u2019s Economy Consolidates On It\u2019s Recession Exit As Q3 2017 GDP Grows By 1.40%"},"content":{"rendered":"
<\/p>\n
November 20, 2017:\u00a0Nigeria\u2019s economy has consolidated its exit from the recession as the nation\u2019s Gross Domestic Product (GDP) in Q3 2017 by 1.40% (year-on-year).<\/p>\n
The record which was released on Monday morning, November 20 by the<\/p>\n
National Bureau of Statistics (NBS), released the records on Monday, 20th November 2017 which showed that the 1.4% growth was the second consecutive positive growth since the emergence of the economy from recession in Q2 2017.<\/p>\n
The NBS report says the growth is 3.74% points higher than the rate recorded in the corresponding quarter of 2016 ( \u20132.34%) and higher by 0.68% points from the rate recorded in the preceding quarter, which was revised to 0.72% from 0.55%.<\/p>\n
The Q2 was revised following revisions by Nigerian National Petroleum Corporation (NNPC) to oil output and hence led to revisions to oil Gross Domestic Product (GDP).<\/p>\n
Similarly, the quarter on quarter, real GDP growth was 8.97% year to date real GDP growth stands at 0.43% in the quarter under review.<\/p>\n
The aggregate GDP stood at N29,451,303.99million in nominal terms higher compared to N26,537,651.01 million in Q3 2016, resulting in a Nominal GDP growth of 10.98%.<\/p>\n
The growth is, however, higher relative to growth recorded in Q3 2016 of 9.15%.<\/p>\n
Recall the Nigeria came officially out of on Tuesday morning, September 5, 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"
November 20, 2017:\u00a0Nigeria\u2019s economy has consolidated its exit from the recession as the nation\u2019s Gross Domestic Product (GDP) in Q3 2017 by 1.40% (year-on-year). The record which was released on Monday morning, November 20 by the National Bureau of Statistics (NBS), released the records on Monday, 20th November 2017 which showed that the 1.4% growth […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[66],"tags":[],"yoast_head":"\n