Nigeria’s economy grew in 2021 at the fastest annual pace in eight years, relying more on the non-oil sector. While the Ministry of Finance predicted a 2.5 per cent growth rate for the year, the Central Bank of Nigeria projected 3.1 per cent. Compared to the third quarter of 2021, the last quarter grew 9.63 per cent. The performance of the economy found strength from the non-oil sector, mainly agriculture, which grew 4.73 per cent. The oil sector which contributed 7.24 per cent to the economy, declined by 8.06 per cent.

Source: The Guardian February 17, 2022 21:23 UTC