Posted on Tue 21 Nov 2017, 08:05 AM

The  National Bureau of Statistics on Monday said Nigeria’s economic growth accelerated in the third quarter as oil output increased.

Oil production increased to 2.03m barrels a day in the third quarter from a revised 1.87m barrels a day.

The crude sector contributed 10.04% to real GDP.

The gross domestic product expanded 1.4% in the 3 months through September from a year earlier, compared with a revised 0.72%  in the 2nd quarter.

 

Posted on Wed 11 Oct 2017, 08:25 AM

The International Monetary Fund has predicted that Nigeria’s economy will grow faster than South Africa’s in 2017.

This is a reverse from the fund’s earlier projection in July that South Africa’s economy will grow by 1% in 2017 while Nigeria will experience a 0.8% economic expansion.

This was revealed by Maurice Obstfeld, IMF’s chief economist, on Tuesday during the unveiling of the World Economic Outlook report at the organisation’s headquarters in Washington.

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