December 10, 2024
Nigeria’s GDP Growth Accelerates to 3.46% in Q3 2024
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Nigeria’s GDP Growth Accelerates to 3.46% in Q3 2024

Nigeria’s GDP Growth Accelerates to 3.46% in Q3 2024

Nigeria’s economy grew by 3.46% in the third quarter of 2024, according to the National Bureau of Statistics (NBS). The latest figure marks an improvement from the 3.19% recorded in the previous quarter and significantly outpaces the 2.54% growth seen in the same period last year.  

The NBS attributed this performance to the services sector, which expanded by 5.19% and contributed 53.58% to the country’s aggregate GDP. This underscores the sector’s role as the backbone of Nigeria’s economic recovery and growth.  

Also Read: Lagos GDP has increased in the past 5 years says Gov. Sanwo-Olu

In nominal terms, the GDP for Q3 2024 stood at N71.13 trillion, reflecting the total market value of all goods and services produced in the economy before adjustments for inflation.

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