Nigeria’s gross domestic product advanced 2.0 percent year-on-year in the first quarter of 2019, easing from a 2.4 percent expansion in the previous period and below market expectations of 2.1 percent, mainly due to a steeper contraction in the country's oil sector. GDP Annual Growth Rate in Nigeria averaged 3.83 percent from 1982 until 2019, reaching an all time high of 19.17 percent in the fourth quarter of 2004 and a record low of -7.81 percent in the fourth quarter of 1983.
GDP Annual Growth Rate in Nigeria is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Nigeria to stand at 2.00 in 12 months time. In the long-term, the Nigeria GDP Annual Growth Rate is projected to trend around 2.50 percent in 2020, according to our econometric models.