CBN expects 2.38% GDP growth by Q4

Uncategorized Faizah Kamal 10-Dec-2019

The Central Bank of Nigeria (CBN) expects to attain 2.38 per cent Gross Domestic Product (GDP) growth rate in the fourth quarter of this year.

Dr Hassan Mahmoud, the Deputy Director, Financial Policy and Regulation Department in CBN, stated this in Yola at the 2019 workshop for financial journalists. The workshop was sponsored by the Nigeria Deposit Insurance Corporation (NDIC).

Mahmoud explained that the GDP growth target would be an improvement over the third quarter growth rate of 2.28 per cent.

“If you are looking at the 1.1 per cent that we did in 2015/2016, and 2.28 per cent that we did in the third quarter of 2019, we will see that we have really moved substantially.”