Nigeria’s economy showed signs of resilience in the second quarter of 2024, with the nation’s real Gross Domestic Product (GDP) growing by 3.19%, a slight increase from the 2.98% growth recorded in the first quarter of the year. This 0.21 percentage point rise was disclosed by the National Bureau of Statistics (NBS) in its latest GDP report released today.
The report highlighted that the Services sector was the primary driver of this growth, posting a robust 3.79% increase. The sector’s strong performance contributed significantly to the overall economy, accounting for 58.76% of the aggregate GDP in Q2 2024.
The report read;
“Nigeria’s Gross Domestic Product (GDP) grew by 3.19 percent (year-on-year) in real terms in Q2’24. This growth rate is higher than the 2.51 percent recorded in the second quarter of 2023 and higher than the Q1’24 growths of 2.98 percent.
“The performance of the GDP in the Q2’24 was driven mainly by the Services sector, which recorded a growth of 3.79 percent and contributed 58.76 percent to the aggregate GDP.
Share this story to friends