• About
  • Advertise
  • Careers
  • Contact Us
Tuesday, June 24, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Economy Finance

Nigeria’s 2022 Q1 Economic Growth Slows

by Yinka Okeowo
May 24, 2022
in Finance
0
UBA
Advertisements

Nigeria’s Gross Domestic Product (GDP) grew 3.11 percent in the first quarter of 2022, slower than in the previous quarter, as a fall in oil production hit the rest of the economy.

TechEconomy analyses of the report released by the National Bureau of Statistics (NBS) on Monday show that 3.11 percent economic growth lacks inclusiveness and is way behind the country’s population growth.

Nigeria’s GDP in the fourth quarter of 2021 grew by 3.98 percent compared to 3.11 percent in the first quarter of 2022. In the first three months of 2021, the growth rate was 0.51 percent.

The Q4 2021 growth rate was higher than the 0.11 percent growth rate recorded in Q4 of 2020 by 3.87 percent points and lower than the 4.03 percent recorded in Q3 of 2021 by 0.05 percent points.

Further, Nigeria’s real Gross Domestic Product (real GDP) stood at N17.57 trillion, N3.1 trillion short of N20.67 trillion reported in the last quarter (Q4) of last year.

According to the NBS, it was the sixth consecutive quarter of growth, with non-oil sectors helping Nigeria bounce back from a harsh recession triggered by the COVID-19 pandemic.

It noted that the economy has been on the path of growth for five quarters, signifying an exit from the recession experienced by the country in 2020.

The full-year GDP figure for 2021 showed the fastest growth in seven years.

He highlighted the recent performance of the economy over the last five quarters to include growth recorded: 0.11% (Q4 2020), 0.51% (Q1 2021), 5.01% (Q2 2021), 4.03% (Q3 2021), and 3.98% (Q4 2021).

“I am pleased to announce to you that the economy maintained this positive trend for the sixth consecutive quarter, recording an output growth of 3.11% in the first quarter of 2022 on a year-on-year basis,” said Semiu Adeniran, Statistician-General of the Federation.

Loading

Advertisements
MTN ADS

Author

  • Yinka Okeowo
    Yinka Okeowo

    View all posts
0Shares
Tags: EconomyFinanceGDPNBS
Yinka Okeowo

Yinka Okeowo

Next Post

Edutech: South Africa’s FoondaMate Raises $2 Million to Spread Limitless Education

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

AgriConnect Nigeria at World Technovation

Technovation: Four Port Harcourt Girls to Represent Nigeria in the United State

12 months ago

HP, Nigerian authorities confiscate over 5000 fake print products, close facilities

3 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.