By Gwurld4026 
The Rise of Nigeria’s Economy: GDP Grows by 3.46% in Third Quarter
Nigeria’s GDP grew by 3.46% in real terms in the third quarter of 2024, an improvement from the 2.54% recorded in Q3 2023 and the 3.19% in Q2 2024.
The growth was driven largely by the services sector, which expanded by 5.19% and contributed 53.58% to the total GDP.
In nominal terms, GDP stood at ₦71.1 trillion, reflecting a 17.26% year-on-year increase.
Key contributors included crop production, trade, telecommunications, and real estate.
The industry sector also showed significant recovery, growing by 2.18%, while the agriculture sector grew by 1.14%.
Nigeria’s average daily oil production increased slightly to 1.47 million barrels per day during the quarter.
This growth underscores improving economic activities, especially in the non-oil sector, which accounted for 94.43% of the GDP