Breaking: Finally, NBS Releases Rebased GDP, Says Nigeria’s Economy Grew By 3.13% In Q1
After months of extensive data gathering and analysis, the National Bureau of Statistics on Monday released the Gross Domestic Product growth rate with the economy growing by 3.13 per cent in the first quarter of this year.
The 3.13 per cent growth rate represents an increase over the 2.27 per cent recorded in the corresponding period of 2024.
The Bureau said that the first quarter growth rate was mainly driven by the services sector, which grew by 4.33 per cent in the first quarter.
The sector, according to the NBS, contributed 57.5 per cent to the country’s GDP.
It said the agricultural sector grew by 0.07 per cent during the first quarter of this year, while the industries sector grew by 3.42 per cent during the period under review.
The rebasing exercise, according to the NBS, covered the period between 2019 and 2023. It used 2019 as the new base year due to the relative stability of the domestic economy.
Details to come…
Breaking: Finally, NBS Releases Rebased GDP, Says Nigeria’s Economy Grew By 3.13% In Q1 is first published on The Whistler Newspaper
