Nigeria exits recession after the economy grew by 0.11% in the fourth quarter of 2020.

This was made know by the National Bureau of Statistics in a report released on Thursday, February 18.

The development comes after two consecutive quarters of negative growth which resulted in a recession.

”Q4 2020 Real GDP grew (after previous two consecutive contractions) by 0.11 percent (-6.10 percent in Q2 2020; -3.62 percent in Q3 2020; & 2.55 percent in Q4 2019) Cumulative GDP for the whole of 2020 stood at -1.92 percent (2.27 percent in 2019).” the NBS report states