Nigeria’s gross domestic product (GDP) grew by 3.46 per cent in real terms in the third quarter (Q3) of 2024
The recorded growth is 0.92 percentage points higher than the rate recorded in Q3 2023 (2.54 per cent).
Statistician-general of the federation, Adeyemi Adeniran Adedeji, disclosed this in a statement on Monday.
The statement indicated that the quarter’s growth was higher by 0.27 percentage points relative to the 3.19 per cent recorded in the second quarter (Q2) of 2024, reflecting a higher growth rate when compared to the corresponding quarter in the previous year (Q3 2023) and the preceding quarter (Q2 2024).
The services sector, according to Adedeji, was the major driver of the economy, recording a growth of 5.19 per cent and contributing 53.58 per cent to the aggregate GDP.
The economic activity in real terms for Q3 2024 stood at N20.115 trillion, which is higher than the rates recorded in the preceding Q2 of 2024, which stood at N18.285 trillion and the corresponding quarter Q3 2023 which recorded N19.44 trillion.
