The National Bureau of Statistics says Nigeria’s Gross Domestic Product grew by 3.46 percent in the third quarter of 2024 on a year-on-year basis.
The National Bureau of Statistics said this in the Nigerian Gross Domestic Product Report Q3 2024 released in Abuja on Monday.
According to the report, this growth rate is lower than the 2.54 percent recorded in the third quarter of 2023 and higher than the second quarter of 2024 growth of 3.19 percent.
The report said 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 percent and contributed 53.58 percent to the aggregate GDP.
It said the agriculture sector grew by 1.14 percent in the third quarter, from the growth of 1.30 percent recorded in the third quarter of 2023.
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The report said the Industry sector witnessed a growth rate of 2.18 percent, an improvement from 0.46 percent recorded in the third quarter of 2023.
The NBS said in terms of share of the GDP, the services sector contributed more to the aggregate GDP in Q3 2024 compared to Q3 2023.
The report said in the third quarter of 2024, aggregate GDP stood at N71,131,091.07 million in nominal terms.
“This performance is higher when compared to the third quarter of 2023 which recorded aggregate GDP of N60,658,600.37 million, indicating a year-on-year nominal growth of 17.26 per cent,” the NBS said.
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