Lagos - Nigeria’s economy grew by 6.21 percent in the first quarter of 2014, up from 4.45 percent in the same period in 2013, a new figure from the National Bureau of Statistics (NBS) has shown.
The growth was, however, lower than 6.77 percent recorded in the fourth quarter of 2013, reports Daily Independent.
Nominal Gross Domestic Product (GDP) for the period stood at N20.169 trillion, up from N18.295 trillion recorded in the corresponding quarter of 2013.
The report revealed that the oil sector recorded a negative real growth rate of 6.60 percent, indicating a better performance compared to the negative growth of 11.40 percent recorded in the corresponding period of 2013 .
Read more at Daily Independent.
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