Nigeria’s GDP grew 5% in Q2. Nigeria’s gross domestic product (GDP)) grew by 5.01 percent in the second quarter of 2021, the highest since 2014, thanks to the easing of COVID -19 restrictions that limit growth last year.

This growth also makes three consecutive quarters of growth following the negative growth rates recorded in the second and third quarters of 2020.

‘’The steady recovery observed since the end of 2020, with the gradual return of commercial activity as well as local and international travel, accounted for the significant increase growth in performance relative to the second quarter of 2020 when nationwide restrictions took effect’’, the report stated.

The road transport sector emerged as the best performing sector in quarter two 2021, growing 92.38% compared to a contraction of 23.75% in quarter 1 in 2021 and a contraction of 51.37% in the second quarter of 2020.

(Source: (Business Day)

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