The National Bureau of Statistics (NBS) says Nigeria’s gross domestic product (GDP) grew by 2.98 percent in the first quarter (Q1) of 2024.
The growth rate, the bureau said, is higher than the 2.31 percent recorded in the same quarter in 2023 but lower than the 3.46 percent recorded in the fourth quarter (Q4) of 2023.
NBS made this known on Friday in its GDP report for Q1 2024.
According to the bureau, the performance of the GDP in Q1 was driven mainly by the services sector, which recorded a growth of 4.32 percent and contributed 58.04 percent to the aggregate GDP.