Nigeria’s gross domestic product (GDP) has witnessed a 2.54 percent growth in the third quarter (Q3) of the year 2023.
This was confirmed by the National Bureau of Statistics (NBS) in a statement on its X handle.
“Gross Domestic Product (GDP) grew by 2.54% (year-on-year) in real terms in the third quarter of 2023,” NBS posted.
“This growth rate is higher than the 2.25% recorded in the third quarter of 2022 and higher than the second quarter 2023 growth of 2.51%.”
The bureau further said that the performance of the GDP in the third quarter of 2023 was driven mainly by the Services sector.
According to the statement, the country’s Services sector recorded a growth rate of 3.99% and contributed 52.70% to the aggregate GDP.
The agriculture sector grew by 1.30%, up from the growth of 1.34% recorded in the third quarter of 2022.
The growth of the industry sector was 0.46%, an improvement from -8.00% recorded in the third quarter of 2022.
NBS added that in terms of share of the GDP, agriculture and the industry sectors contributed less to the aggregate GDP in the third quarter of 2023 compared to the third quarter of 2022.
