Nigeria’s Gross Domestic Product (GDP) has grown by 3.46 per cent in real terms in the third quarter (Q3) of 2024 on a year-on-year basis.
This is according to a Monday GDP report published by the National Bureau of Statistics (NBS) which showed that the growth represents a 3.19 percent increase from the one recorded in Q2 2024.
“Nigeria’s Gross Domestic Product (GDP) grew by 3.46% (year-on-year) in real terms in the third quarter of 2024,” the NBS said. “This growth rate is higher than the 2.54% recorded in the third quarter of 2023 and higher than the second quarter of 2024 growth of 3.19%.”
“In the quarter under review, aggregate GDP at basic price stood at N71,131,091.07 million in nominal terms,” the report read.
“This performance is higher when compared to the third quarter of 2023 which recorded an aggregate GDP of N60,658,600.37 million, indicating a year-on-year nominal growth of 17.26%.”
