NIGERIA’S GDP GREW BY 3.46% IN Q4 2023 – NBS
The National Bureau of Statistics (NBS) says Nigeria’s Gross Domestic Product (GDP) grew by 3.46% (year-on-year) in real terms in the fourth quarter of 2023.
In its GDP Report for Q4 2023 released on Thursday, the NBS said this growth rate was lower than the 3.52% recorded in Q4 2022 and higher than the Q3 2023 growth of 2.54%.
“The performance of the GDP in the fourth quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 3.98% and contributed 56.55% to the aggregate GDP,” the Bureau stated.
“The agriculture sector grew by 2.10%, from the growth of 2.05% recorded in the fourth quarter of 2022. The growth of the industry sector was 3.86%, an improvement from -0.94% recorded in the fourth quarter of 2022.
“In terms of share of the GDP, industry, and the services sectors contributed more to the aggregate GDP in the fourth quarter of 2023 compared to the fourth quarter of 2022.
“On an annual basis, GDP grew by 2.74% in 2023 relative to 3.10% in 2022.”
More Stories
BREAKING: FIRE GUTS LAGOS FACTORY, DESTROYS GOODS
A fire outbreak in a factory in Lagos on Wednesday night destroyed some goods estimated to be worth billions of...
JUST IN: NNPC APPOINTS SEGUN CFO, NTIA AS EVP UPSTREAM
NNPC Limited on Wednesday announced a major shake up in its top management team with Mr. Adedapo Segun appointed as...
TRUMP NOMINATES MATT GAETZ AS ATTORNEY GENERAL
President-elect Donald Trump has selected Rep. Matt Gaetz (R-FL) to serve as the next U.S. attorney general. Gaetz, a staunch...
NEWS: NNPC SIGNS 10-YEAR DEAL TO SUPPLY 100MMSCF/D GAS TO DANGOTE REFINERY
The NNPC Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company Ltd. (NNPC Ltd.), has executed a...
(UPDATE) N70,000 MINIMUM WAGE: ZAMFARA GOVT UNCOVERS 20 GHOST MEDICAL DOCTORS
The Zamfara State Government has uncovered 20 medical doctors listed as ghost workers during an ongoing verification exercise aimed at...
EX GOV OF EDO STATE, OBASEKI EMBARKS ON POST-TENURE MEDICAL VACATION
Following the completion of his second tenure as the Governor of Edo State on the 11th of November 2024, His...