Nigeria’s GDP Grows by 3.84% in Fourth Quarter of 2024, Marking Positive Economic Trend
The National Bureau of Statistics (NBS) has announced that Nigeria’s gross domestic product (GDP) experienced a notable increase of 3.84% in the fourth quarter of 2024. This growth rate surpasses the 3.46% recorded in the previous quarter, signaling a positive trend for the nation’s economy.
In comparison to the same period last year, the latest figure also reflects improvement over the 3.46% growth reported for the fourth quarter of 2023, highlighting a year-on-year economic recovery.
The Presidency has responded enthusiastically to the NBS report, expressing optimism about the future of Nigeria’s economy. In a television interview, Tope Fasua, Special Adviser to the President on Economic Affairs, attributed the GDP growth to various policies and reforms implemented by President Bola Tinubu’s administration.
Fasua noted that significant gains have been observed in the petroleum sector, particularly following the removal of fuel subsidies, which is expected to have a cascading effect on the broader economy.
As Nigeria navigates its economic landscape, these developments suggest a potential for sustained growth and resilience in the upcoming quarters.