Home Business Five largest sectors in the Nigerian economy as of Q1 2024 .

Five largest sectors in the Nigerian economy as of Q1 2024 .

69
0

The five largest sectors in the Nigerian economy as of Q1 2024.

In the first quarter (Q1) of 2024, the Gross Domestic Product (GDP) of Nigeria increased by 2.98% on an annual basis. This indicates a 0.67 percentage point increase above the 2.31% growth rate observed in the first quarter of 2023.

However, compared to the 3.46% growth recorded in Q4 2023, the economy shrank on a quarter-over-quarter basis, as per data issued on Friday by the National Bureau of Statistics (NBS).

The services sector expanded by 4.32% during the quarter, accounting for 58.04% of the nation’s GDP.
Furthermore, the top five activities that contributed were

As of Q1 2024, the five largest sectors in the Nigerian economy are:

  1. Agriculture – 21.07%
  2. Information and Communication – 17.89%
  3. Trade – 15.70%
  4. Manufacturing – 9.98%
  5. Finance and Insurance – 6.81%

Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com

Join Our Social Media Channels:

WhatsApp: NaijaEyes

Facebook: NaijaEyes

Twitter: NaijaEyes

Instagram: NaijaEyes

TikTok: NaijaEyes

READ THE LATEST BUSINESS NEWS

LEAVE A REPLY

Please enter your comment!
Please enter your name here