In the second quarter of 2024, Nigeria grew its Gross Domestic Product (GDP) by 3.19 percent on a year-on-year basis in real terms from the 2.51 percent posted in the same period of last year, and higher than the 2.98 percent achieved in the first quarter of this year.
The economic growth recorded by the country is lower than the 3.42 percent projected by a leading brokerage firm in Nigeria, Meristem Research.
The stats office noted that the performance of the GDP in the second quarter of 2024 was driven mainly by the Services sector, which recorded a growth of 3.79 percent and contributed 58.76 percent to the aggregate GDP.
It stated that the agriculture sector grew by 1.41 percent, from the growth of 1.50 percent recorded in the second quarter of 2023, noting that the growth of the industry sector was 3.53 percent, an improvement from -1.94 percent recorded in the second quarter of 2023.
