The National Bureau of Statistics (NBS) indicated in a report released on Friday, November 24, 2023, that Nigeria recorded a low economic growth rate in the third quarter of 2023.

The growth of the Nigerian economy was limited to 2.54% in the third quarter of 2023, registering a very slight increase compared to the 2.51% rate recorded in the previous quarter. Indeed, the GDP performance between July 1 and September 30 of the current year was mainly driven by the services sector, which grew by 3.99% and contributed 52.7% to overall GDP. Agriculture and industry grew by 1.30% and 0.46% respectively. The growth of the Nigerian economy in the third quarter of 2023 marks the 12th consecutive positive quarterly evolution of the GDP of this West African country