NIGERIA’S GDP ROSE BY 3.19% IN Q2’24 – NBS SAYS
The National Bureau of Statistics (NBS) reported that Nigeria’s Gross Domestic Product (GDP) increased by 3.19% in the second quarter of 2024.
In its Q2 2024 GDP Report released on Monday, the Bureau stated that Nigeria’s GDP increased year on year in real terms in the second quarter of 2024.
“This growth rate is higher than the 2.51% recorded in the second quarter of 2023 and higher than the first quarter of 2024 growth of 2.98%,” the NBS stated.
The NBS said the performance of the GDP in the second quarter of 2024 was driven mainly by the services sector, which recorded a growth of 3.79% and contributed 58.76% to the aggregate GDP.
“The agriculture sector grew by 1.41%, from the growth of 1.50% recorded in the second quarter of 2023. The growth of the industry sector was 3.53%, an improvement from -1.94% recorded in the second quarter of 2023.
“In terms of share of the GDP, the industry and services sectors contributed more to the aggregate GDP in the second quarter of 2024 compared to the corresponding quarter of 2023.
“In the quarter under review, aggregate GDP at basic price stood at N60,930,000.58 million in nominal terms.
“This performance is higher when compared to the second quarter of 2023 which recorded aggregate GDP of N52,103,927.13 million, indicating a year-on-year nominal growth of 16.94%,” the Bureau stated.
More Stories
POLICE ARREST PROPHETESS OVER DEATHS OF WOMAN, BABY AFTER CHILDBIRTH IN ONDO
The Ondo State Police Command on Tuesday confirmed the arrest of a prophetess, Folashade Adekola, following the deaths of a...
PRES. TINUBU RETURNS TO ABUJA AFTER ARAB-ISLAMIC SUMMIT IN SAUDI ARABIA
President Bola Tinubu has returned to Abuja after attending the Joint Arab-Islamic Summit in Riyadh, Saudi Arabia. The President...
FG PROMISES TO PAY OUTSTANDING PENSION ARREARS AS RETIREES PROTEST IN ABUJA
The Federal Government has promised to pay the outstanding pension arrears as it released only about 25 per cent of the...
NEWS: PDP GOVERNORS COMMEND TARABA COLLEAGUE FOR EXEMPLARY LEADERSHIP
The Peoples Democratic Party Governors’ Forum (PDP-GF) has congratulated Taraba State Governor, Dr. Agbu Kefas, for transforming the state within...
NEWS: EQUATORIAL GUINEA TO PROSECUTE BALTASAR ENGONGA FOR INAPPROPRIATE MISCONDUCT
The Government of Equatorial Guinea has initiated legal action against Baltasar Ebang Engonga, the former Director General of the National...
WORLD NEWS: COURT DELAYS DECISION ON SENTENCING TRUMP TO NOVEMBER 19
The judge in Donald Trump’s New York criminal case has delayed to November 19 a decision on potentially throwing out...