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Economy swells by 6.21 pct in Q1 2014

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Nigeria’s economy grew by 6.21 percent in the first quarter of 2014, up from 4.45 percent in the same period last year, lifted by its services sector, the National Bureau of Statistics said on Tuesday.

The services sector, which accounted for 52.99 percent of first quarter GDP, expanded by 7.20 percent during the first three months of 2014, compared with a growth rate of 6.70 percent in same period of 2013.

First-quarter crude production fell to 2.26 million barrels per day, down from 2.29 million barrels per day, according to the statistics office.

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