• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Nigeria’s economy up 2.54% on services sector growth

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
51
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Nigeria’s economy up 2.54% on services sector growth

Nigeria’s economy grew marginally in the third quarter of this year largely on the back of the services sector, official data released on Friday show.

Africa’s biggest economy saw its Gross Domestic Product (GDP) grow by 2.54 percent (year-on-year) in real terms in Q3 2023, compared to 2.51 percent in Q2 and 2.25 percent in the same period last year, according to the National Bureau of Statistics (NBS).

“The performance of the GDP in Q3 was driven mainly by the services sector, which recorded a growth of 3.99 percent and contributed 52.70 percent to the aggregate GDP,” the report said.

It said the agriculture sector grew by 1.30 percent, from the growth of 1.34 percent recorded in the third quarter of 2022 and that the growth of the industry sector was 0.46 percent, an improvement from -8.00 percent recorded in Q3 of 2022.

“In terms of share of the GDP, agriculture, and the industry sectors contributed less to the aggregate GDP in Q3 compared to the third quarter of 2022.”

Economists widely hol that service-led growth may be termed as a sign of a mature economy, indicating that the country is shifting from a reliance on manufacturing and agriculture to a focus on providing intangible goods and services. This shift can be driven by a number of factors, including rising incomes, urbanisation, and technological advancements.

RelatedPosts

Businesses Flock to Ethiopia’s Newly-Opened Banking Market

Among Africa’s Top Performing Currencies — the Zambian Kwacha

PIAC Urges Increased Investment in Petroleum Sector as Ghana Projected to Capture 20% of West Africa’s $80bn Oil and Gas Market by 2033

Tags: NigeriaNigeria’s economy up 2.54% on services sector growth
No Result
View All Result

Highlights

BoG Reviewing Consumer Recourse Mechanism to Address Gaps in Complaint Redress System, Says 2nd Deputy Governor

A Look at the Opportunities and Challenges as North America Gears Up for the 2031 Women’s World Cup

Black Stars Nominated for National Team of the Year at 2025 CAF Awards

Parliament to Hold Special Hearings on Extractive Industries’ Impact on Jobs and National Development

Ghana’s Economy Ranked Among 14 African Economies at High Risk of Short-Term and Commercial Vulnerability

Dangote Plans Refinery Upgrade to Dethrone India and Lead the Global Refining Market

Trending

Business

Businesses Flock to Ethiopia’s Newly-Opened Banking Market

October 22, 2025

Businesses Flock to Ethiopia's Newly-Opened Banking Market Ethiopia is opening its banking sector to foreign players for...

Among Africa’s Top Performing Currencies — the Zambian Kwacha

October 22, 2025

PIAC Urges Increased Investment in Petroleum Sector as Ghana Projected to Capture 20% of West Africa’s $80bn Oil and Gas Market by 2033

October 22, 2025

BoG Reviewing Consumer Recourse Mechanism to Address Gaps in Complaint Redress System, Says 2nd Deputy Governor

October 22, 2025

A Look at the Opportunities and Challenges as North America Gears Up for the 2031 Women’s World Cup

October 22, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.