Abuja, Aug. 26, 2024 – Nigeria’s Gross Domestic Product (GDP) rose by 3.19% year-on-year in the second quarter of this year, according to the National Bureau of Statistics (NBS).
The NBS reported this in latest GDP statistics issued in Abuja on Monday.
The growth rate is higher than the 2.51% recorded in the second quarter of 2023 and the 2.98% recorded in the first quarter of 2024.
NBS said the growth was driven mainly by the Services sector, which recorded a growth of 3.79 percent and contributed 58.76 percent to the aggregate GDP.
“The agriculture sector grew by 1.41 percent from the growth of 1.5 percent recorded in the second quarter of 2023.
“The growth of the industry sector was 3.53 percent, an improvement from -1.94 percent recorded in the second quarter of 2023.
“In terms of share of the GDP, the industry and services sectors contributed more to the aggregate GDP in Q2’24 compared to the corresponding quarter of 2023.”
The oil sector grew by 10.15 percent during the period, while the non-oil sector’s growth was 2.8 percent. (GBN)
