Nigeria’s GDP experienced a growth of 3.19% in the second quarter of 2024, according to the National Bureau of Statistics.
In the second quarter of 2024, Nigeria’s Gross Domestic Product (GDP) experienced a year-on-year growth of 3.19% in real terms.
The current growth rate surpasses the 2.51% observed in the second quarter of 2023 and exceeds the 2.98% growth recorded in the first quarter of 2024.
In the second quarter of 2024, the GDP performance was primarily fueled by the Services sector, which experienced a growth rate of 3.79% and accounted for 58.76% of the total GDP.
The agriculture sector experienced a growth of 1.41%, which is a slight decrease from the 1.50% growth noted in the second quarter of 2023.
The industrial sector experienced a growth rate of 3.53%, a notable increase from the decline of -1.94% observed in the second quarter of 2023.
