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Nigeria’s real Gross Domestic Product (GDP) contracted for the second consecutive quarter by 3.62 per cent in the third quarter of the year (Q3 2020) compared to a growth of -6.10 per cent, the National Bureau of Statistics (NBS) stated Saturday.
According to the Q3 2020 GDP report published Saturday, cumulative GDP for the first nine months of the year (January- September) also indicated a growth of -2.48 per cent.
With the latest performance, the country has officially entered into recession, though it expects a quick recovery by Q1 2021.
