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Nigerian Gross Domestic Product Report Q2 2016

In the Second Quarter of 2016, the nation’s Gross Domestic Product (GDP) declined by -2.06% (year-onyear) in real terms. This was lower by 1.70% points from the growth rate of –0.36% recorded in the preceding quarter, and also lower by 4.41% points from the growth rate of 2.35% recorded in the corresponding quarter of 2015. Quarter on quarter, real GDP increased by 0.82% During the quarter, nominal GDP was N23,483,954.78 million (in nominal terms) at basic prices. This was 2.73% higher than the Second Quarter 2015 value of N22,859,153.01 million. This growth was lower than the rate recorded in the Second Quarter of 2015 by 2.44% points.

Data source: National Bureau of Statistics

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