According to a recent GDP report for Q2 2021 released by the National Bureau of Statistics (NBS), Nigeria recorded a GDP year-on-year growth of 5.01% in Q2 of 2021.
“The Q2 2021 growth rate was higher than the -6.10% growth rate recorded in Q2 2020 and the 0.51% recorded in Q1 2021 year-on-year, indicating the return of business and economic activity near levels seen prior to the nationwide implementation of COVID-19 related restrictions,” the report read.
Accordingly, the non-oil sector was stated to have contributed to over 90% of the newly recorded GDP growth thanks to growth in trade, telecommunications, manufacturing, transportation and agriculture.
