The National Bureau of Statistics (NBS) says Nigeria’s Gross Domestic Product (GDP) grew by 3.11 per cent in the first quarter of 2022. PeoplesGazette reports.

This is according to the NBS Nigerian Gross Domestic Product Report Q1 2022 presented in Abuja on Monday.

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It was reported that Nigeria’s GDP grew by 3.11 per cent year-on-year in real terms in the first quarter of 2022. Information Guide Nigeria

It added this showed sustained positive growth for six consecutive quarters since the recession witnessed in 2020 when negative growth rates were recorded in quarter two and three of 2020.

The NBS said the first quarter of 2022 growth rate further represents an improvement in economic performance. “The observed trend since Q4 of 2020 is an indication of a gradual economic stability. jamb results

“The Q1 of 2022 growth rate was higher than the 0.51 per cent growth rate recorded in Q1 of 2021 by 2.60 per cent points and lower than 3.98 per cent recorded in Q4 of 2021 by 0.88 per cent points.

“Nevertheless, quarter-on-quarter, real GDP grew at -14.66 per cent in Q1 of 2022, compared to Q4 of 2021, reflecting a lower economic activity than the preceding quarter.”

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