Federal finance and statistics / National Bureau of Statistics

Nigerian Gross Domestic Product Report (Q4 2022)

Overview of GDP Nigeria's Gross Domestic Product (GDP) grew by 3.52% (year-on-year) in real terms in the fourth quarter of 2022, following a growth of 2.25% in the third quarter of 2022 and 3.98% in the fourth quarter of 2021. The performance of the GDP in the fourth quarter of 2022 was driven mainly by the Services sector, which recorded a growth of 5.69% and contributed 56.27% to the aggregate GDP. Although the Agriculture sector grew by 2.05% in the reference period, its performance was significantly hampered by severe incidences of flood experienced across the country, accounting for lesse…