By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: Service Sector Boosts Nigeria’s GDP to 3.19% in Q2
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | Service Sector Boosts Nigeria’s GDP to 3.19% in Q2

Business

Service Sector Boosts Nigeria’s GDP to 3.19% in Q2

Olaitan Sodiq
Olaitan Sodiq
Published: June 1, 2025
Last updated: June 1, 2025
1 Min Read
Share
Service Sector Boosts Nigeria's GDP to 3.19% in Q2 | Daily Report Nigeria
SHARE

 

Nigeria’s Gross Domestic Product (GDP) has recorded a growth rate of 3.19% in the second quarter of 2024, driven by the services sector, which grew by 3.79% and contributed 58.76% to the total GDP.

The National Bureau of Statistics (NBS) released the GDP report on Monday, indicating a modest four basis points improvement from the Q1 2024 level of 2.98%.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

The services sector’s growth was driven by financial and insurance, information and communication, agriculture, trade, and manufacturing.

President Bola Tinubu welcomed the latest GDP report, stating, “Our economy is recovering. Sooner than later, Nigerians will begin to feel, see, and enjoy the impact of his administration’s economic re-engineering efforts.”

However, Professor Uche Uwaleke noted that the aggressive hike in monetary policy rate in the early part of the year took a toll on output in Q2 2024. “This may explain the decline recorded in major contributors to GDP, such as manufacturing, trade, ICT, and real estate.”

 

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:GDP growth rateGDP reportmonetary policy impactNigeria's economic recoveryservices sector contributionTop Stories
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

Taiwo Awoniyi Buys 50% Stake in Kwara Kiddies League, Becomes Chairman | Daily Report Nigeria
Taiwo Awoniyi Buys 50% Stake in Kwara Kiddies League, Becomes Chairman
Sports
UAE Slams Fresh Visa Restrictions on Nigerians, Bans Transit Visas | Daily Report Nigeria
UAE Slams Fresh Visa Restrictions on Nigerians, Bans Transit Visas
News
NECO Releases 2025 BECE Results, Sets Date for Re-sit Exams | Daily Report Nigeria
NECO Releases 2025 BECE Results, Sets Date for Re-sit Exams
News
Nigeria's Oil Production Jumps to 1.7m bpd as Tantita Intensifies Fight Against Oil Theft
Tantita Coordinators Commend UPU’s Retraction, Warn Sponsored Blackmailers
News
Ahmed Musa Denies Gifting Cars to Kano Pillars Officials, Players | Daily Report Nigeria
Ahmed Musa Denies Gifting Cars to Kano Pillars Officials, Players
Sports

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

BREAKING: Tinubu Offers 12m Households N8,000 for 6 Months | Daily Report Nigeria
News

BREAKING: Tinubu Offers 12m Households N8,000 for 6 Months

June 13, 2025
EFCC Secures Largest Asset Recovery in Nigeria | Daily Report Nigeria
Business

EFCC Secures Largest Asset Recovery in Nigeria

June 2, 2025
President Tinubu Didn’t Present Empty Budget Box – Doguwa | Daily Report Nigeria
News

President Tinubu Didn’t Present Empty Budget Box – Doguwa

June 13, 2025
FACT FILE: Prominent Nigerians That Died in January 2022
Fact File

FACT FILE: Prominent Nigerians That Died in January 2022

June 14, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?