Why Nigeria’s GDP decreased in 2016

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In the fourth quarter of 2016, Nigeria’s Gross Domestic Product, GDP, contracted by 1.73 per cent in real terms, the National Bureau of Statistics, NBS, said on Tuesday.

In a report titled National Gross and Domestic Product Report (Expenditure and Income Approach) for the third and fourth quarters of 2016, the NBS also said year on year growth in GDP declined by 2.34 per cent in the third quarter of the same year.

This, the NBS said, resulted in continuation of the negative growth trend from the first half of 2016.

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