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The performance of the GDP in the first quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 4.35% and contributed 57.29% to the aggregate GDP. The agriculture sector grew by -0.90%, lower than the growth of 3.16% recorded in the first quarter of 2022. Although the growth of the industry sector improved to 0.31% ...
•The marginal growth in GDP by 2.5% in Q2 2023 from 2.3% in Q1 2023 was caused by the lingering effect of the cash crunch. PwC projects 2.8% growth rate for Nigeria in 2023 and 3% in 2024. This marginal growth projection may be due to the emerging effects of the implementation domestic
The growth of the global economy in 2023 is nothing short of a tale of resilience as elevated inflation unprecedented in decades and several other headwinds dampened global growth, pushing the world economy closer to its pre-pandemic growth level. Headwinds from elevated price levels which caused significant drag in consumer demand, sustained ...
June 2023 8.3% Previous Oil Production 1.3mbpd 1.2mbpd Period M -o M% July 27 2023 3.8% Previous FX Reserves $35.6bn $34.3bn Period M -o M% July 27 2023 8.9% Previous Market Capitalisation ₦35.6tn ₦32.7tn July 2023 1.8% Previous Inflation 22.8% 22.4 % NB: The cut off date is as of July 27, 2023 ₦ $ Source: NBS, CBN, NGX, PwC Analysis ...
Jun 8, 2023 · KPMG Analysis: GDP Growth Rate by 2026. This week we highlight the reported decision of the World Bank to retain its 2023 GDP growth forecast for Nigeria at 2.80% from 3.3% recorded in 2022. The World Bank’s 2023 forecast is in line with KPMG’s revised forecast of 2.85% (from 3.0% earlier stated), following the release of Nigeria’s Q1 ...
Feb 24, 2023 · 2023 still shoulders some of the burdens in 2022 and is set toface its ripple effects. With the ongoing Russia-Ukraine war, oilprices are expected to remain at a relatively high price above itspeak in 2021. Although, this is supposed to be an advantage toNigeria due to its status as the largest oil producer in Africa,the Nigerian oil sector has ...
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13. Other Services. Coverage of Annual Real Gross Domestic Product commenced 1981. Coverage of Quarterly Real Gross Domestic Product commenced 1st Quarter of 2010. Choose year to display. Mallam Adamu Ciroma:Mallam Adamu Ciroma was appointed the third Nigerian Governor of the Central Bank of Nigeria, from September 23rd, 1975 to June 27th, 1977.
