The
National Bureau of Statistics on Sunday released the Gross Domestic
Product figure for the fourth quarter of 2014, showing a drop in the
economic growth to 5.94 per cent from 6.22 per cent recorded in the third quarter.
A country’s GDP is the monetary value of
all the finished goods and services produced within its borders in a
specific period of time.
The GDP report, which was made available
to our correspondent in Abuja, also indicated the fourth quarter’s
figure of 5.94 per cent was lower by 0.83 percentage points from the
6.77 per cent recorded in the fourth quarter of 2013.
A further analysis of the report showed
the economy grew by 6.21 per cent in the first quarter, while the second
had a growth rate of 6.54 per cent.
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