May 25, 2024

Nigeria’s GDP Grew By 2.98% In One Year, Says NBS

The New Diplomat

Writer

The Jollof Rice Rivalry: From Banter to Collaborative Culinary Unity – An Analysis of a Proposal for Standardization

By Sonny Iroche Introduction The Jollof rice rivalry, a light-hearted yet fervent debate among West Africans, particularly between Nigerians, Ghanaians, and Senegalese, has transcended kitchens and spilled into social media, music, and even international diplomacy. At its core, this rivalry centers on claims of superiority in preparing Jollof rice, a vibrant, tomato-based rice dish flavored…

August 26, 2025 • Opinion

Atiku’s in-law, Haske, Cries Out: I’m not on the run, EFCC persecuting me for political reasons

By Obinna Uballa Bashir Abdullahi Haske, a businessman and a son-in-law of former Vice President Atiku Abubakar, has reacted to allegations by the Economic and Financial Crimes Commission (EFCC) linking him to a multi-million-dollar fraud scheme and accusing him of evading justice. In a statement issued by his media office in Abuja on Tuesday, Haske…

August 26, 2025 • News

‘Your bitterness Against Tinubu is well known,’ Lagos APC Blasts Obasanjo

By Obinna Uballa The Lagos State chapter of the All Progressives Congress (APC) has fired back at former President Olusegun Obasanjo for reportedly describing President Bola Tinubu’s administration as “competing with Buhari in incompetence.” Obasanjo made the remark in his new book, Nigeria: Past and Future, launched in March alongside Lest We Forget: Slavery, Slave…

August 26, 2025 • Politics

By Joel Okwara

The National Bureau of Statistics (NBS) said Nigeria’s Gross Domestic Product (GDP) grew by 2.98% in one year in real term first quarter 2024.
This was contained in its document titled: “National Gross Domestic Product Q1 2024.”

The document also said the growth rate is higher than the 2.31% recorded in the first quarter of 2023 and lower than the fourth quarter of 2023 growth of 3.46%.

NBS said: “Nigeria’s Gross Domestic Product (GDP) grew by 2.98% (year-on-year) in real terms in the first quarter of 2024.

“This growth rate is higher than the 2.31% recorded in the first quarter of 2023 and lower than the fourth quarter of 2023 growth of 3.46%.”

The report said the performance of the GDP in the first quarter of 2024 was driven mainly by the Services sector, which recorded a growth of 4.32% and contributed 58.04% to the aggregate GDP.

It said the agriculture sector grew by 0.18%, from the growth of -0.90% recorded in the first quarter of 2023.

The growth of the industry sector, said NBS, was 2.19%, an improvement from 0.31% recorded in the first quarter of 2023.

The Bureau said, in terms of share of the GDP, the services sector contributed more to the aggregate GDP in the first quarter of 2024 compared to the corresponding quarter of 2023.

Share this news

News