Nigeria records 3.98pc GDP growth in Q4 2021

ABUJA, Nigeria, Feb 18 – Nigeria’s Gross Domestic Product grew by 3.98 percent in real terms in the fourth quarter of 2021, sustaining a positive trajectory.

“The Q4 growth indicates a steady economic recovery accounting for annual growth of 3.40 percent in 2021,” the National Bureau of Statistics said here Thursday in its latest report.

It said fourth-quarter growth was higher than the 0.11 percent growth recorded in the year-ago quarter and lower than the 4.03 percent recorded in the third quarter of 2021.

On a quarter-on-quarter basis, real GDP grew at 9.63 percent in Q4 compared to Q3, reflecting higher economic activity, it noted.

The nominal GDP growth rate in Q4 2021 was higher relative to the 10.07 percent growth recorded in the fourth quarter of 2020 but lower than the 15.41 percent growth recorded in the preceding quarter.

The bureau added the 2021 annual nominal growth of the country stood at 13.92 percent.