According to the National Bureau of Statistics (NBS), Nigeria’s Gross Domestic Product (GDP) grew by 2.98 percent in Q1 2024, a decrease of 0.48 percentage points from the 3.46 percent growth rate recorded in Q4 2023. However, it is 0.67 percentage points higher than 2.31 percent growth rate recorded in Q1 2023. At the disaggregated level, in Q1 2024, services accounted for 58.04 percent of the GDP, the agricultural sector accounted for 21.07 percent, and the industrial sector contributed 20.89 percent.
June 5, 2024