Nigeria’s economy grew by 3.98% in Q4 2021, says NBS

From Isaac Anumihe, Abuja

National Bureau of Statistics (NBS) yesterday, said that the nation’s economy grew by 3.98 per cent in the fourth quarter of 2021 even as it recorded an annual growth rate of 3.40 per in 2021.

Speaking to newsmen on the fourth quarter of Gross Domestic Products (GDP), in Abuja, the Statistician General (SG) of the Federation, Dr Simon Harry, said that in nominal terms, aggregate GDP stood at N49.28 trillion in fourth quarter 2021.

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“It is pertinent to note that the economy has maintained this positive trajectory up to the 4th quarter of 2021, recording a GDP growth rate of 3.98 per cent. This figure to an average Nigerian may be seen lower than the 4.03 per cent growth rate recorded in Q3, 2021. However, analytically, it is not when viewed in terms of the base effect of the corresponding period in Q4 of 2020 when the economy recorded a GDP growth rate of 0.11 per cent as against the growth rate recorded in Q3 of the same year which was -3.62 per cent.