Nigeria’s Gross Domestic Product (GDP) grew by 2.51% year-on-year in real terms in the second quarter of 2023, which is 0.2% points higher than 2.31% recorded in the previous quarter but 1.03% lower compared to 3.54% recorded in the corresponding period of 2022.

The GDP performance was announced by the National Bureau of Statistics (NBS) in its
report released on Thursday.
The performance of the GDP in the second quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 4.42% and contributed 58.42% to the aggregate GDP.