Official: Nigeria’s 2013 Growth Rate Has Been Revised Down To 5.49% From 7.41%

Reuters reports Nigeria’s actual GDP growth rate for 2013 has been revised down to 5.49% from 7.41% previously estimated during a rebasing exercise, the statistics office said on Friday. In a surprise data release, the office also said GDP growth for 2012 had been revised down to 4.21 percent from a previous estimate of 6.5 […]

Reuters reports Nigeria’s actual GDP growth rate for 2013 has been revised down to 5.49% from 7.41% previously estimated during a rebasing exercise, the statistics office said on Friday.

In a surprise data release, the office also said GDP growth for 2012 had been revised down to 4.21 percent from a previous estimate of 6.5 percent.

The fact that our growth rate has been revised downward doesn’t surprise me that much considering the size of the increase in our GDP brought about by the rebasing.

However, Nigeria’s growth rate is still way ahead of the continent’s other giant, South Africa, whose GDP growth was 1.9 percent in 2013 as it suffered badly from strikes at major mines.

You can get the report here

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