The Statistician General of the Federation, Adeyemi Adeniran, says Nigeria’s Gross Domestic Product, GDP, growth rate in real terms (constant price) rose by 3.46 percent in the third quarter (Q3) of 2024 on a year-on-year basis.
Adeniran made this known in a statement on Monday, saying the growth is 0.92 percentage points higher than the rate recorded in Q3 2023 (2.54%).
He added that the growth in the quarter was higher by 0.27 percentage points relative to the 3.19 percent recorded in the second quarter (Q2) of 2024.
“This reflects a higher growth rate when compared to the corresponding quarter (Q3 2023) and the preceding quarter (Q2 2024).
“The major driver of the economy is the Services sector, which recorded a growth of 5.19% and contributed 53.58% to the aggregate GDP.
“The economic activity in real terms for Q3 2024 stood at N20.1tr, which is higher than the rates recorded in the preceding Q2 2024 which stood at N18.2tr , and the corresponding quarter Q3 2023 which recorded N19.4tr,” Adeniran said
