Nigeria’s economy grew at a faster pace in the second quarter of this year, compared to the previous quarter, official data released on Friday show.

Africa’s biggest economy saw its Gross Domestic Product (GDP) grow by 2.51 percent (year-on-year) in real terms in Q2 2023, from 2.31 percent in Q1 2023 and 3.54 percent in the same period last year, according to the National Bureau of Statistics (NBS).

“This growth rate is lower than the 3.54 percent recorded in the second quarter of 2022 and may be attributed to the challenging economic conditions being experienced,” it said.

It said the performance of the GDP in the second quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 4.42 percent and contributed 58.42 percent to the aggregate GDP.

The agriculture sector grew by 1.50 percent, an improvement from the growth of 1.20 percent recorded in the second quarter of 2022. The growth of the industry sector was -1.94 percent relative to -2.30% recorded in the second quarter of 2022.

In terms of share to the GDP, agriculture, and the industry sectors contributed less to the aggregate GDP in the second quarter of 2023 compared to the second quarter of 2022.

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naijaboy756:
Practically what is obtainable on the streets?


Imagine they said unemployment rate was about 4%

I thought lies and propaganda ended with Lai Mohammed

YouandiAllofus:
There's no correlation between these figures and the situation on ground. These recent stats from the NBS are far from reality and does not seem to represent the true picture of this very unpresidented times of economic harship on the populace

EwuuGambia:
Oluwole statistician is just churning out all manner of data.

naijaboy756:
Practically what is obtainable on the streets?


Imagine they said unemployment rate was about 4%

I thought lies and propaganda ended with Lai Mohammed

helinues:






Why not present your own verifiable data without hitting your head on the wall

FreeStuffsNG:
Nigeria on the forward march. Do your part today.

Others are making phenomenal progress legitimately here in Nigeria and so you can too if you quit your negative mind, entitlement mentality and laziness today.

One more thing, change your crowd of unpatriotic naysayers and losers who don't take responsibility for their personal failures and mistakes.

YouandiAllofus:
I even had to go through that post over and over again looking for the missing 4 to compliment the 44.1% unemployment rate which should reflect the reality on ground. Just how can buhari era with subsidy be about 33% high and tinubu era without subsidy be as low as 4%? When we have seen job loses and shut down of businesses occassioned by increase in petrol prices driving up the cost of production leaving more industries on a shaky table and verge of collapse. These stats are unsubstantiated

FreeStuffsNG:
Nigeria’s economy grows by 2.51% in Q2
Service sector leads growth by 4.42%
By Bunmi Bailey
Aug 25, 2023

Nigeria’s economy grew at a faster pace in the second quarter of this year, compared to the previous quarter, official data released on Friday show.

Africa’s biggest economy saw its Gross Domestic Product (GDP) grow by 2.51 percent (year-on-year) in real terms in Q2 2023, from 2.31 percent in Q1 2023 and 3.54 percent in the same period last year, according to the National Bureau of Statistics (NBS).

“This growth rate is lower than the 3.54 percent recorded in the second quarter of 2022 and may be attributed to the challenging economic conditions being experienced,” it said.

It said the performance of the GDP in the second quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 4.42 percent and contributed 58.42 percent to the aggregate GDP.

The agriculture sector grew by 1.50 percent, an improvement from the growth of 1.20 percent recorded in the second quarter of 2022. The growth of the industry sector was -1.94 percent relative to -2.30% recorded in the second quarter of 2022.

In terms of share to the GDP, agriculture, and the industry sectors contributed less to the aggregate GDP in the second quarter of 2023 compared to the second quarter of 2022.

https://businessday.ng/business-economy/article/nigerias-economic-growth-expands-marginally-in-q2-to-2-51/#google_vignette
Mynd44 nlfpmod

FreeStuffsNG:
Nigeria’s economy grows by 2.51% in Q2
Service sector leads growth by 4.42%
By Bunmi Bailey
Aug 25, 2023

Nigeria’s economy grew at a faster pace in the second quarter of this year, compared to the previous quarter, official data released on Friday show.

Africa’s biggest economy saw its Gross Domestic Product (GDP) grow by 2.51 percent (year-on-year) in real terms in Q2 2023, from 2.31 percent in Q1 2023 and 3.54 percent in the same period last year, according to the National Bureau of Statistics (NBS).

“This growth rate is lower than the 3.54 percent recorded in the second quarter of 2022 and may be attributed to the challenging economic conditions being experienced,” it said.

It said the performance of the GDP in the second quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 4.42 percent and contributed 58.42 percent to the aggregate GDP.

The agriculture sector grew by 1.50 percent, an improvement from the growth of 1.20 percent recorded in the second quarter of 2022. The growth of the industry sector was -1.94 percent relative to -2.30% recorded in the second quarter of 2022.

In terms of share to the GDP, agriculture, and the industry sectors contributed less to the aggregate GDP in the second quarter of 2023 compared to the second quarter of 2022.

https://businessday.ng/business-economy/article/nigerias-economic-growth-expands-marginally-in-q2-to-2-51/#google_vignette
Mynd44 nlfpmod

cucumbar:
seems like your job is to look for yeye news that does not tally with the realities on ground. E be like say You don mental o.
If there is hell fire after life, you’ll burn in the hottest part for this sort of wickedness, except you are doing this under some influence.
Ah! God can never forgive your sins against humanity.

cucumbar:
seems like your job is to look for yeye news that does not tally with the realities on ground. You don mental o.

gssdobi:
.


I want to assume, that the increase in

employment is due to the fact that, APC

employed more 30k per month

nairaland Ebola defenders.

Defending Ebola is harder than

defending Buhari. So the need for increased man power.

Even that werey DJ , of recent have

stopped dedicating Great Jams.

FreeStuffsNG:
Mynd44 nlfpmod