Nigeria’s GDP Grows by 2.25%

Nigeria’s gross domestic product, GDP, grew by 2.25% year-on-year in Q3 2022, marking the slowest growth since the Covid-19 pandemic.

According to the National Bureau of Statistics, the Q3 2022 growth rate decreased by 1.78% points from the 4.03% growth rate recorded in Q3 2021 and 1.29% points relative to 3.54% in Q2 2022.

It added that the slow growth is attributable to the base effects of the recession and the challenging economic conditions that have impeded productive activities.