The Nigerian economy grew by 2.31 percent in the first quarter of 2023, according to a report by the National Bureau of Statistics (NBS) released in May 2023. However, compared to the fourth quarter’s GDP growth, which was 3.52 percent, this represents a fall of 1.21 percentage points. Compared to the first quarter’s economic growth of 3.11 percent the year before, GDP growth decreased by 0.80 percentage points annually.
June 6, 2023
Nigeria Economic Update (Issue 20)
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Nigeria Economic Review
This report provides a concise and timely analytical
overview of key aspects of the Nigerian economy. The report is an attempt to
track the developments in the relevant aspects of the economy over a
three-month period. It provides valuable insights into potential drivers of the
economic trends and outlines expectations for subsequent quarters of the year.
The areas of focus are Global Economic Performance, Domestic Economic
Performance, External Sector Performance, and Sectoral Performance.