The National Bureau of Statistics (NBS), says Nigeria’s Gross Domestic Product (GDP) grew by 3.52 per cent in the fourth quarter of 2022 on a year-on-year basis.
The NBS said this in the Nigerian Gross Domestic Product Report Q4 2022 released in Abuja on Friday.
According to the report, this followed a growth of 2.25 per cent in the third quarter of 2022 and 3.98 per cent in the fourth quarter of 2021.
The report said 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 per cent and contributed 56.27 per cent to the aggregate GDP.
It said although the agriculture sector grew by 2.05 per cent in the fourth quarter, its performance was significantly hampered by severe incidences of flood experienced across the country.
“This accounted for lesser growth relative to the fourth quarter of 2021 which was 3.58 per cent.’’
The report, however, said the Industry sector was still challenged, recording -0.94 per…
