In the second quarter of 2023, Nigeria’s GDP growth rate stood at 2.51%, representing a decline from the Q2 2022 figure of 3.54%.
When compared to the first and second quarters of 2022, the growth rates for Q1 and Q2 of 2023 experienced reductions of 0.80% points and 1.03% points, respectively.
This is according to the Q2 GDP report from the National Bureau of Statistics (NBS).
On the positive side, the GDP growth rate for Q2 increased by 0.20% when compared to the 2.31% recorded in the first quarter of 2023.
