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GDP Growth Up to 0.55% - Too Soon to Cheer

Proshare

Wednesday, September 06, 2017 / 9:38AM /FDC

Nigeria finally turned the economic corner into positive growth of 0.55% after 5 consecutive quarters of negative growth and a deep recession


The challenge is that the growth is anaemic and pale compared to the population growth of 2.7%. The good news is that growth was driven by solid performance in oil, energy, financial services and trade. Surprisingly, growth in the electricity, gas & air conditioning supply sector increased from -5.04% to 35.5% which was spectacular.

However, this output expansion is not enough to provide for the 14,000 new babies born every day in Nigeria.

















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