By Mariam Abeeb
The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) rate grew by 3.46 percent in the third quarter (Q3) of 2024.
The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.
The bureau said the growth rate is also higher than the 2.54 percent recorded in the third quarter of 2023.
According to the report, the performance of the GDP in the period reviewed was driven mainly by the services sector, which recorded a growth rate of 5.19 percent and contributed 53.58 percent to the aggregate GDP.
“The agriculture sector grew by 1.14%, from the growth of 1.30% recorded in the third quarter of 2023,” the statistics firm said.
“The growth of the industry sector was 2.18%, an improvement from 0.46% recorded in the third quarter of 2023.
“In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the third quarter of 2024 compared to the corresponding quarter of 2023.”
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