The economy of Nigeria advanced 0.1 percent year-on-year in the fourth quarter of 2020, following a 3.6 percent contraction in the previous period, suggesting that the economy is exiting the Covid-19 induced recession. On a quarterly basis, the GDP grew 9.7 percent, after increasing 12.1 percent in the previous quarter. source: National Bureau Of Statistics, Nigeria
GDP Growth Rate in Nigeria averaged 1.36 percent from 2010 until 2020, reaching an all time high of 12.12 percent in the third quarter of 2020 and a record low of -14.27 percent in the first quarter of 2020. This page provides - Nigeria GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.
GDP Growth Rate in Nigeria is expected to be -4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Nigeria to stand at -15.30 in 12 months time. In the long-term, the Nigeria GDP Growth Rate is projected to trend around 4.00 percent in 2022 and 6.00 percent in 2023, according to our econometric models.