Business Stance

Feb 18, 2021

1 min read

Baby Steps: Nigeria’s economy is finally out of its negative territory as it grows by 0.11%

According to the Nigerian Gross Domestic Product report issued by the National Bureau of Statistics (NBS), Nigeria’s Gross Domestic Product (GDP) grew by 0.11% (year-on-year) in real terms in the fourth quarter of 2020, representing the first positive quarterly growth in the last three quarters since the pandemic hit.

The growth in GDP was driven largely by the positive growth recorded in the ICT and Agriculture sector. The ICT sector recorded a 15.9% growth while the Agricultural sector recorded a 3.42%.

What do you think? Is this a sustainable growth? Is the recession finally over?