Monday, April 15, 2024

Nigeria’s GDP Grew By 3.46% In Q4 2023, Says NBS

The National Bureau of Statistics (NBS) says Nigeria’s Gross Domestic Product (GDP) grew by 3.46% (year-on-year) in real terms in the fourth quarter of 2023.

In its GDP Report for Q4 2023 released on Thursday, the NBS said this growth rate was lower than the 3.52% recorded in Q4 2022 and higher than the Q3 2023 growth of 2.54%.

“The performance of the GDP in the fourth quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 3.98% and contributed 56.55% to the aggregate GDP,” the Bureau stated.

“The agriculture sector grew by 2.10%, from the growth of 2.05% recorded in the fourth quarter of 2022. The growth of the industry sector was 3.86%, an improvement from -0.94% recorded in the fourth quarter of 2022.


“In terms of share of the GDP, industry, and the services sectors contributed more to the aggregate GDP in the fourth quarter of 2023 compared to the fourth quarter of 2022.

“On an annual basis, GDP grew by 2.74% in 2023 relative to 3.10% in 2022.”

Signature TV
Signature TV
Signature TV is a multi-media company, owners and operators of and producers of The Signature Show on AIT and Corruption Tori. Our programmes are broadcast on the AIT Network and on Seven NTA stations across the country. We are content providers for a number of television networks and some State TV stations, with a respected 24/7, high online and offline followership. We are also Communications/Media Consultants to MacArthur Foundation, Ford Foundation and OSIWA.

Related Articles


Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Latest Articles