Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 - Politics

Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 - Politics - Nairaland

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Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by AnonPoet(op): 4:45pm On Feb 17, 2022

Nigeria’s gross domestic product (GDP) grew 3.4 percent in 2021, the strongest since 2014.

The figure is the first annual growth above 3 percent since President Muhammadu Buhari won the 2015 election.

In 2014, the economy grew 6.3 percent.

The National Bureau of Statistics (NBS) said this in its fourth-quarter GDP report released on Thursday.

According to the report, the GDP also posted a strong recovery of 3.98 percent in the fourth quarter of 2021 — but lower than the 4.03 percent in the third quarter.

“Nigeria Gross Domestic Product (GDP) grew by 3.98%(year-on-year) in real terms in the fourth quarter of 2021, showing a sustained positive growth for the fifth quarter since the recession witnessed in 2020 when output contracted by -6.10% and -3.62% in Q2 and Q3 of 2020 under the Covid pandemic,” the report reads.

“The fourth quarter growth indicates a steady economic recovery accounting for annual growth of 3.40% in 2021.

“The Q4 2021 growth rate was higher than the 0.11% growth rate recorded in Q4 2020 by 3.87% points and lower than 4.03% recorded in Q3 2021 by 0.05% points. Nevertheless, quarter on quarter, real GDP grew at 9.63% in Q4 2021 compared to Q3 2021, reflecting a higher economic activity than the preceding quarter.”

The report showed that in Q4, aggregate GDP stood at N49.27 million in nominal terms.

“This performance is higher when compared to the fourth quarter of 2020 which recorded aggregate GDP of N43,564,006.29 million, indicating a year-on-year nominal growth rate of 13.11%. The nominal GDP growth rate in Q4 2021 was higher relative to 10.07% growth recorded in the fourth quarter of 2020 but lower compared to 15.41% growth recorded in the preceding quarter,” it added.

“The 2021 annual nominal growth stood at 13.92%. For better clarity, the Nigerian economy has been classified broadly into the oil and non-oil sectors.”

According to the report, the non-oil economy grew by 4.73% in the quarter from a year earlier, bolstered by 3.58 percent growth in agriculture and 5 percent in services. The oil sector contracted by 8.06 percent in the fourth quarter and an annual growth rate of -8.30 percent in 2021.

https://www.thecable.ng/breaking-nigerias-economy-grew-3-4-in-2021-strongest-since-2014/amp

11 Likes 1 Share

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by Olunmercy56(f): 4:46pm On Feb 17, 2022

elections are coming, so beware of lies

87 Likes 5 Shares

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by AustineE1: 4:49pm On Feb 17, 2022

A growth that is not felt by the populace is irrelevant.

84 Likes 7 Shares

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by agulion: 4:50pm On Feb 17, 2022

Audio growth, anyway since economy have grown let's see if Yoruba Muslims will stop mining peoples skulls

32 Likes 3 Shares

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by Tochi3(m): 4:51pm On Feb 17, 2022

Breaking it down. . .

The economy only grows in their pockets

Fools

39 Likes 1 Share

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by inoki247: 4:51pm On Feb 17, 2022

Grew lik tree wey no get impact on people's life....

All this paper growth...

13 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by Rastaramsey(m): 4:52pm On Feb 17, 2022

WTF man......

Why the lies huh

? Our economy is crippled...

18 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by Maxymilliano(m): 4:55pm On Feb 17, 2022

Audio growth that hardly reflect on the lives of the citizens.

7 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by Nobody: 4:57pm On Feb 17, 2022*

growth on paper

5 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by manee2(m): 4:58pm On Feb 17, 2022

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by osuofia2(m): 4:59pm On Feb 17, 2022

I must admit, Nigeria under baba Buhari is the best but a lot of people are jealous of baba Buhari they don't want to admit.
#Atiku2023

3 Likes 2 Shares

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by Stevenson20: 4:59pm On Feb 17, 2022

Lamba! Yet we don't feel the impact.

6 Likes 1 Share

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by mannasseh(m): 5:00pm On Feb 17, 2022

make God punish all this liars

6 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by MisterMan123456: 5:01pm On Feb 17, 2022

It grew by 3.4% after shrinking by 12.5%.
Weldone

24 Likes 1 Share

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by oluseyiforjesus(m): 5:01pm On Feb 17, 2022

Has no meaning to a common man as long as there is fuel scarcity...............

2 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by seunayantokun(m): 5:01pm On Feb 17, 2022

Yet more people have become paupers.

5 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by pesuwe(m): 5:01pm On Feb 17, 2022

Mumu growth, growth that nobody is feeling the impact

5 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by Tribalism123(m): 5:02pm On Feb 17, 2022

Highest since 1985.
Buhari tops Buhari

3 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by PIPPROF(m): 5:02pm On Feb 17, 2022

Stupid audio figures that never affect the real man on the street.
Grew with all the fuel queues and unemployment

2 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by Nobody: 5:02pm On Feb 17, 2022

Olori iro. In mummy G.O voice......you will go to hell fire if you lie to the public.

3 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by Oritna94(m): 5:02pm On Feb 17, 2022

Audio growth. Nothing to show for it. Only chaos everywhere

4 Likes

Re: Nigeria’s Economy Grew 3.4% In 2021, Strongest Since 2014 by aboyaji(m): 5:03pm On Feb 17, 2022*

Did you know that Nigeria takes pride in shamelessness?

The economy took a growth of about 3.4 percent, yet Nigeria is seeking loans to boost the economy. You can imagine.

Still seeking loans where tax payment is constant.

Seeking loans where businesses were thriving.

Seeking loans where the nation has mineral resources booming.

This makes me and many to question the relevance of mathematics studies we did in schools.

Is 1+1 not equal to 2 again?

We have growth in all sectors yet seek loans.

Now when the loans come, where do they end up that doesn't generate revenue to be used to offset the loans accrued?

Year in year out we get loans across many western world. Corruption and embezzlement will not allow the bigwigs invest it appropriately.

If a loan comes, is it not for investment?

Now I still question the validity of most people parading certificates up and down in the name of economists and financial advicers.

Verdict: Nothing is working in Nigeria due to non transparency of the office holders and the citizens at large.

5 Likes 2 Shares