Nigeria’s GDP grows by 3.46%

Abuja, Nov. 25, 2024 – Nigeria’s Gross Domestic Product (GDP) grew by 3.46% (year-on-year) in real terms in the third quarter of 2024.

The National Bureau of Statistics (NBS) reported this in its latest bulletin on Monday.

The growth rate is higher than the 2.54% recorded in the third quarter of 2023 and higher than the second quarter of 2024 growth of 3.19%.

According to NBS, the performance of the GDP in the third quarter of 2024 was driven mainly by the services sector, which recorded a growth of 5.19% growth and contributed 53.58% to the aggregate GDP.

The agriculture sector grew by 1.14% from the 1.30% growth rate recorded in the third quarter of 2023.

The industrial sector grew by 2.18%, an improvement over the 0.46% recorded in the third quarter of 2023. (GBN)

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