The National Bureau of Statistics (NBS) has announced significant growth in Nigeria’s Gross Domestic Product (GDP).
According to its Report for Q1 2021, released on its website on Sunday in Abuja, the bureau noted that the GDP grew by 0.51 percent year-on-year, in spite of the slower pace of economic activities in the first quarter of the year.
This record marked two consecutive quarters of growth, following negative growth rates recorded in the second and third quarters of 2020. 
It added that the Q1 2021 growth rate was slower than the 1.87 per cent growth rate recorded in Q1 2020 but higher than 0.11 per cent recorded in Q4 2020, indicative of a slow but continuous recovery.
Also, the nominal GDP growth rate in Q1 2021 was higher, relative to 12.01 per cent growth recorded in the first quarter of 2020 as well as the 10.07 per cent growth recorded in the preceding quarter.
For the oil sector, in Q1, average daily oil production stood at 1.72 million barrels per day (mbpd)
Other drivers of the growth in GDP were agriculture (crop production), manufacturing (food, beverage and tobacco), real estate, construction, human health and social services.
