The National Bureau of Statistics says Nigerian economy has appreciated by thirty nine per cent year-on-year in real terms in the fourth quarter of 2021.
The Statistician General of the Federation, Simon Harry disclosed this at a news conference in Abuja.
He said the 3.98 per cent growth in Gross Domestic Product shows a sustained positive growth since the recession witnessed in 2020 when output contracted by minus six point one per cent and minus three point six per cent in the second and third quarters of 2020.
The Statistician General said the fourth quarter growth indicates a steady economic recovery accounting for an annual growth of 3.40 per cent in 2021.
The NBS boss also noted that in the quarter under review, aggregate GDP stood at N49.27trillion in nominal terms which according to him is higher when compared to the fourth quarter of 2020 that recorded aggregate GDP of N43.56trillion, indicating a year-on-year nominal growth rate of 13.11 per cent.
He however, indicated that growth rate of non-oil sector in third quarter of 2021 performed better at 5.44 per cent.
