The latest report by the National Bureau of Statistic in its recent release on the state of the economy posted a 3.19 per cent growth in Nigeria’s Gross Domestic Product (GDP) real terms (year- on – year) in second quarter of 2024. This report has shown a consistent improvement in the figures posted. In Q1’2023 and Q2’2023 the real GDP recorded were 2.31 per cent and 2.51 per cent however, in the recent year and quarters recorded 2.98 and 3.19 per cent respectively.

The performance of the GDP in the second quarter of 2024 was driven mainly by the Services sector, which recorded a growth of 3.79 per cent and contributed 58.76 per cent to the aggregate GDP. The agriculture sector grew by 1.41 per cent, from the growth of 1.50 per cent recorded in the second quarter of 2023. The growth of the industry sector was 3.53 per cent, an improvement from -1.94 per cent recorded in the second quarter of 2023.