…Economy expands 2.54% in third quarter; median est. was 2.85%
…Non-oil industry expands at its slowest pace since 2021
Nigeria’s economy grew less-than-anticipated in the third quarter as painful reforms instituted by President Bola Tinubu weighed on the non-oil sector, which expanded at its slowest pace since 2021.
Gross domestic product expanded 2.54% in the three months through September from a year earlier, compared with growth of 2.51% in the previous quarter, according to data released by the National Bureau of Statistics on Friday. The median estimate of seven economists in a Bloomberg survey was 2.85%.
Culled from Bloomberg
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