GDP grows by 3.19% in Q2 2024

3 weeks ago 6

By Joseph Chibueze

26 August 2024 | 1:43 p.m.

Nigeria’s Gross Domestic Product (GDP) grew by 3.19 percent (year-on-year) successful existent presumption successful the 2nd 4th of 2024. The National Bureau of Statistics (NBS) reports that this maturation complaint is higher than the 2.51 percent recorded successful the 2nd 4th of 2023 and the 2.98 percent maturation successful the archetypal 4th of 2024. It…

Nigeria’s Gross Domestic Product (GDP) grew by 3.19 percent (year-on-year) successful existent presumption successful the 2nd 4th of 2024.

The National Bureau of Statistics (NBS) reports that this maturation complaint is higher than the 2.51 percent recorded successful the 2nd 4th of 2023 and the 2.98 percent maturation successful the archetypal 4th of 2024.

It said the show of the GDP successful the 2nd 4th of 2024 was driven chiefly by the Services sector, which recorded a maturation of 3.79 percent and contributed 58.76 percent to the aggregate GDP.

The agriculture sector, the NBS said, declined to 1.41 percent, from the maturation of 1.50 percent recorded successful the 2nd 4th of 2023. The astonishment maturation was recorded by the manufacture sector, which grew by 3.53 percent, an betterment from -1.94 percent recorded successful the 2nd 4th of 2023.

The study said that successful presumption of stock of the GDP, the manufacture and services sectors contributed much to the aggregate GDP successful the 2nd 4th of 2024 compared to the corresponding 4th of 2023.

“In the 4th nether review, aggregate GDP astatine basal terms stood astatine N60.93 trillion successful nominal terms. This show is higher compared to the 2nd 4th of 2023, which recorded an aggregate GDP of N52.1 trillion, indicating a year-on-year nominal maturation of 16.94 percent,” the study said.

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