Nigeria’s GDP grew by 2.98% in a single 12 months

In a brand new report titled “Nationwide Gross Home Product Q1 2024” launched by the Nigerian Bureau of Statistics, it has been revealed that the nation’s economic system grew by 2.98% in a single 12 months.

The expansion fee is larger than the two.31% recorded within the first quarter of 2023 and decrease than the fourth quarter of 2023 progress of three.46%.

In response to NBS, the efficiency of the GDP within the first quarter of 2024 was pushed primarily by the companies sector which recorded a progress of 4.32% and contributed 58.04% to the combination GDP.

The agriculture sector grew by 0.18%, from the expansion of -0.90% recorded within the first quarter of 2023. The expansion of the trade sector was 2.19%, an enchancment from 0.31% recorded within the first quarter of 2023. 

From the report, the companies sector contributed extra to the combination GDP within the first quarter of 2024 in comparison with the corresponding quarter of 2023.