Nigeria’s economy is showing signs of recovery, with the National Bureau of Statistics reporting a GDP growth of 3.19% in Q2 2024. This marks an improvement from 2.51% in the same quarter last year and 2.98% in Q1 2024.
The growth is largely driven by the services sector, which expanded by 3.79%, contributing 58.76% to the GDP. In nominal terms, Nigeria’s GDP rose to N60.93 trillion from N52.10 trillion in Q2 2023.
President Bola Tinubu welcomed the news, stating that the economy is on the right track towards recovery. Meanwhile, Finance Minister Wale Edun launched the Accelerated Stabilisation and Advancement Plan to further boost key economic sectors.
