Nigeria - KDNK Kadar Pertumbuhan Tahunan

The economy of Nigeria grew 1.94 percent year-on-year in the second quarter of 2019, easing from an upwardly revised 2.10 percent expansion in the prior period. Stable oil output and the successful political transition were the main drivers of growth.

Nigeria’s gross domestic product advanced 2.0 percent year-on-year in the first quarter of 2019, easing from a 2.4 percent expansion in the previous period and below market expectations of 2.1 percent, mainly due to a steeper contraction in the country's oil sector. On a quarterly basis, the economy shrank 13.8 percent, after a 5.3 percent growth in the last quarter of 2018. It was the steepest contraction in GDP since the March quarter of 2016.

The economy of Nigeria advanced 2.4 percent year-on-year in the last quarter of 2018, following a 1.8 percent expansion in the previous period and beating market expectations of a 2.1 percent gain. It was the highest growth rate since the third quarter of 2015, as the non-oil sector increased further and the oil sector contracted less. On a quarterly basis, the economy expanded 5.3 percent, lower than a 9.5 percent in the prior quarter.