Federal finance and statistics / National Bureau of Statistics

Nigerian Gross Domestic Product Report (Expenditure and Income Approach) (Q3, Q4 2023)

Summary In the third quarter of 2023, Nigeria's real GDP at basic prices grew by 2.54% on a year-on-year basis, showing a higher growth rate compared to the corresponding quarter of 2022 which was 2.25%. Growth of Q4 of 2023 GDP remained positive at 3.46%, lower compared to the Q4 of 2022 growth (3.52%). However, relative to Q3 and Q4 of 2022, the performances in 2023 indicate an increase of 0.30% points in the Q3 of 2023 growth rate and a fall of 0.05% points in Q4 of 2023. The annual growth rate of real GDP at basic prices stood at 2.74% in 2023 compared to 3.10% in 2022. Data source : Natio…