Nigeria’s Gross Domestic Product (GDP) experienced a year-on-year growth of 3.19% in real terms during the second quarter of 2024.
The GDP growth rate surpasses the 2.51% recorded in the second quarter of 2023 and the 2.98% growth seen in the first quarter of 2024.
The GDP performance in Q2 2024 was primarily driven by the Services sector, which grew by 3.79% and contributed 58.76% to the total GDP.
The Agriculture sector saw a growth of 1.41%, slightly down from the 1.50% growth recorded in Q2 2023.
The Industry sector improved significantly, with a growth of 3.53%, compared to the -1.94% decline observed in the second quarter of 2023.
