Business

Non-oil sector contributed 95.30% to Nigeria’s GDP in Q4 2023 

The non-oil sector contributed around 95.30% to Nigeria’s GDP in the last three months of the year according to the Nigeria Bureau of Statistics 2023 fourth quarter GDP report.


This percentage is below the 95.66% recorded in the fourth quarter of 2022, yet it surpasses the 94.52% noted in the third quarter of 2023. 


In the quarter under review, the non-oil sector experienced a growth of 3.07% in real terms. This growth rate was 1.37% points lower than the growth rate observed in the same quarter of 2022 but it was 0.32% points higher than the growth seen in the third quarter of 2023.