Estimated Reading Time: <1
Nigeria’s Gross Domestic Product (GDP) has contracted by 3.62% in the third quarter of 2020, officially indicating that Nigeria has fallen into recession as the oil sector dipped by 13.89% (year-on-year) in real term.
This is according to the Gross Domestic Product (GDP) report, released by the National Bureau of Statistics (NBS).
The contraction in the oil sector represents 7.26% points lower than the growth recorded in the previous quarter (Q2 2020, -6.63%) while the non-oil sector contracted by 2.51% in the review quarter.
kindly donate to the work we do using our interim PAYPAL https://www.paypal.me/NewsWireNGR
- I can count 187 times President Buhari has said he will end banditry without results – Fayose
- ‘Amotekun will be deployed to protect COVID-19 vaccines in Ogun’ says Governor Dapo Abiodun
- Shortly after the release of school girls, terrorists abduct over 60 – burn Zamfara town
- Ogun State deputy speaker impeached over thuggery allegations
- Federal Government says States that have not met the criteria for vaccine safety will not get doses
- Just in: Buhari, Osinbajo to be publicly vaccinated on Saturday
- Jangebe schoolgirls: Reunion turns violent as security operatives shoot protesters
- Zamfara Government imposes curfew on Jangebe community
- COVID-19: Federal Government extends work-from-home directive
- Veteran actor and broadcaster, Sadiq Daba has died