• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, July 6, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

BREAKING: Nigeria’s GDP Drops To 2.51% In Q2 2023

by Mark Itsibor
2 years ago
in News
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

Nigeria’s Gross Domestic Product (GDP) growth rate in real terms was down by 2.51 per cent in the second quarter (Q2) of 2023 on a year-on-year basis, which is 1.03 per cent percentage points lower than the 3.54 per cent recorded in Q2 2022.

It ws, however, higher by 0.20 per cent percentage points relative to 2.31 per cent recorded in the first quarter (Q1) of 2023, according to latest data released by the National Bureau of Statistics (NBS).

The major driver of the economy between Q1 and Q2 was the services sector, which recorded a growth of 4.42% per cent and contributed 58.42 per cent to the aggregate GDP.

On a quarter-on-quarter, the real GDP growth decreased by 0.17 per cent in Q2 2023, reflecting a low production level than the preceding quarter of Q1 2023.

RELATED

Abia, NRCRI To Establish Agro-processing Zone

Abia Community Joins Protest Against Privatisation Of Cocoa Estate

2 hours ago

Association Decries Use Of Babies With Cleft Lips For Sacrifice

2 hours ago

The economic activity in real terms for Q2 2023 stood at ₦17,719,335.38 million, which is lower than the rates recorded in Q1 2023 ₦17,750,060.97 million but higher than Q2 2022 which stood at ₦17,285,882.91 million.

“This highlighted the shortfall in production level in the quarter under review when compared with the previous quarters of Q1 2023 but higher than the corresponding quarter of Q2 2022,” Statistician-general of the Federation and chief executive of National Bureau of Statistics (NBS), Adeniyi Adeniran, stated.

In nominal terms (current price), aggregate GDP stood at ₦52,103,927.13 million in Q2 2023, indicating a year-on-year nominal growth rate of 15.77 per cent. This is higher than the value of ₦45,004,520.89 million in Q2 2022 and ₦51,242,151.21 million in the preceding quarter.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


SendShareTweetShare
Previous Post

Gov Eno Orders Relocation Of Chinese Factory Over Pollution

Next Post

Don’t Waste Scarce Resources On Niger Republic’s Crisis, PRP Tells Tinubu

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

Abia, NRCRI To Establish Agro-processing Zone
News

Abia Community Joins Protest Against Privatisation Of Cocoa Estate

2025/07/06
News

Association Decries Use Of Babies With Cleft Lips For Sacrifice

2025/07/06
Villa Forces Prevented Osinbajo From Implementing Ideas– Galadima’s Daughter
News

Villa Forces Prevented Osinbajo From Implementing Ideas– Galadima’s Daughter

2025/07/06
Billionaire Kano Businessman, Aminu Dantata, Dies At 94
News

Dantata: Legacy Of A Philanthropist

2025/07/06
No Investment Too Much In Education, Says Barau
News

Constitution Amendment Will Fix Nigeria’s Challenges –Sen Barau

2025/07/06
We’re Working To Fulfil All Agreements With Labour – FG  
Education

How We’re Handling Security Challenges – Varsities, Others

2025/07/06
Leadership Conference advertisement

LATEST

Abia Community Joins Protest Against Privatisation Of Cocoa Estate

Association Decries Use Of Babies With Cleft Lips For Sacrifice

Villa Forces Prevented Osinbajo From Implementing Ideas– Galadima’s Daughter

Dantata: Legacy Of A Philanthropist

Constitution Amendment Will Fix Nigeria’s Challenges –Sen Barau

How We’re Handling Security Challenges – Varsities, Others

2027: Coalition Leaders Relocate To Regions, Begin Mobilisation

Naval Gunboat Capsizes In Delta, 3 Officers, 3 Others Die, 3 Missing

New Constitution: Take Your Requests To State Assemblies, NASS Tells Nigerians

ICC Under Fire Over ‘Bias’ Against Africa

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.