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    Chronicle NG

    Nigeria posts record 2.27% GDP growth

    Chronicle EditorBy Chronicle EditorFebruary 24, 2020No Comments1 Min Read
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    Statistician-General of the National Bureau of Statistics (NBS), Dr Yemi Kale Inflation Nigeria manufacturing
    Statistician-General of the National Bureau of Statistics (NBS), Dr Yemi Kale
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    Nigeria’s economic growth rose to an annual rate of 2.27% in the three months to the end of December, its highest quarterly growth since a 2016 recession.

    The Nigeria Bureau of Statistics (NBS) office released the new data on Monday.

    The economy, Africa’s largest, expanded by 0.27% in the previous quarter and 0.17% in the same period a year earlier.

    The country has struggled to shake off the effects of a 2016 recession that ended the following year.

    • Malaysian PM Mahathir Mohamad resigns

    Nigeria has been grappling with low growth since then.

    Growth rose to an annual rate of 2.28% in the third quarter after production of its main export, crude oil, rose to a more than three-year high.

    Crude production in the fourth quarter stood at 2 million barrels per day, up from 1.91 million in the same period of the previous year, the statistics office said.

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    NANS to FG: Prepare for more fatal stampedes or address hunger

    NANS demands rescue of kidnapped poly students in Ogun

    July 31, 2026
    Joseph Tegbe announces the federal government's plan to phase out power sector subsidies from 2027 while ruling out an immediate electricity tariff increase.

    BREAKING: FG to phase out power subsidy from 2027

    July 31, 2026
    Oloyede hands over to new JAMB registrar Segun Aina

    Oloyede hands over to new JAMB registrar Segun Aina

    July 31, 2026
    US Embassy Abuja ends routine visa processing as Lagos becomes Nigeria's regional US visa hub.

    BREAKING: US ends routine visa services in Abuja

    July 31, 2026
    ICPC uncovers 908 ghost workers in police, other agencies

    Police hunt kidnappers of Ogun poly students

    July 31, 2026
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