Nigeria’s Gross Domestic Product growth fell to 3.10 per cent in 2022 from 3.40 per cent in 2021 according to new GDP results from the National Bureau of Statistics.
The NBS stated that growth in the agriculture and industry sector of the economy reduced in 2022, while the performance of the service sector improved in the year that is being reported.
In the fourth quarter of 2022, GDP grew by 3.52 per cent (year-on-year) in real terms. This growth was driven by the services sector, which recorded a growth of 5.69 per cent and contributed 56.27 per cent to aggregate GDP.
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