Nigeria's Gross Domestic Product grew 5.01 percent year-on-year in the second quarter, according to the National Bureau of Statistics.
NBS revealed this in its Second Quarter GDP Report released on Thursday.
According to the report, 5.01 percent marks three consecutive quarters of growth following the negative growth rates recorded in the second and third quarters of 2020.
The growth rate for the second quarter of 2021 was higher than the growth rate of -6.10% recorded in the second quarter of 2020 and the 0.51% recorded in the first quarter of 2021.
This is an indication of the return of business and economic activity close to levels seen prior to the nationwide implementation of COVID-19 related restrictions.
The report indicated that with the steady recovery seen since the end of 2020, the gradual return of commercial activity, as well as local and international travel, explained the significant increase in growth performance relative to the second quarter of 2020, when they entered restrictions are in force at the national level.
So far this year, real GDP grew by 2,70% in 2021 compared to -2,18% in the first half of 2020.