Business

Breaking: Nigeria’s GDP grows by 3.46% in Q4, falls to 2.74% for 2023- NBS 

Nigeria’s Gross Domestic Product (GDP) on an annual scale, the GDP expanded by 2.74% in 2023, a slight deceleration from the 3.10% growth rate achieved in 2022.


This represents the slowest growth since 2020 when the economy contracted by –1.92% due to the pandemic.


For Q4 2023, experienced a growth of 3.46% on a year-on-year basis in Q4 of 2023. This rate of expansion signifies a slight decrease from the 3.52% growth observed in Q4 of 2022, yet it marks an improvement over the 2.54% growth rate seen in Q3 of 2023.