Nigeria GDP Grew By 3.19% In Q2, NBS Says

Nigeria GDP Grew By 3.19% In Q2, NBS Says

Nigeria’s Gross Home Product (GDP) grew by 3.19 % (year-on-year) in actual phrases within the second quarter of 2024, in line with a contemporary knowledge from the Nationwide Bureau of Statistics (NBS).

The expansion price is greater than the two.51% recorded within the second quarter of 2023 and better than 2.98% recorded within the first quarter of 2024.

The GDP efficiency within the second quarter of 2024 was pushed primarily by the providers sector, which recorded 3.79% development and contributed 58.76% to the combination GDP.

The agriculture sector grew by 1.41% from 1.50% recorded within the second quarter of 2023.

The expansion of the business sector was 3.53%, an enchancment from -1.94% recorded within the second quarter of 2023.

When it comes to share of the GDP, the business and providers sectors contributed extra to the combination GDP within the second quarter of 2024 in comparison with the corresponding quarter of 2023.

Within the quarter below assessment, mixture GDP at fundamental worth stood at N60,930,000.58 million in nominal phrases.

This efficiency is greater when in comparison with the second quarter of 2023 which recorded mixture GDP of N52,103,927.13 million, indicating a year-on-year nominal development of 16.94%.

The Nigerian financial system has been labeled broadly into the oil and non-oil sectors.