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BREAKING: Nigeria’s GDP Grew By 3.46% In Q4 2023 — NBS

Nigeria’s Gross Domestic Product grew by 3.46 per cent year-on-year in real terms in the fourth quarter of 2023, the National Bureau of Statistics has disclosed.
In its ‘Nigerian Gross Domestic Product Report (Q4, 2023),’ released on Thursday, the NBS said the growth rate is lower than the 3.52 per cent recorded in the fourth quarter of 2022 and higher than the third quarter of 2023 growth of 2.54 per cent
It added that the service industry was responsible for the growth in the quarter.
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Both the IMF and World Bank expected Nigeria’s economy to grow by 2.9 per cent in 2023.
The report read, “Nigeria’s Gross Domestic Product (GDP) grew by 3.46 per cent (year-on-year) in real terms in the fourth quarter of 2023.
“This growth rate is lower than the 3.52 per cent recorded in the fourth quarter of 2022 and higher than the third quarter of 2023 growth of 2.54 per cent.
“The performance of the GDP in the fourth quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 3.98 per cent and contributed 56.55 per cent to the aggregate GDP”
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In terms of share of the GDP, industry, and the services sectors contributed more to the aggregate GDP in the fourth quarter of 2023 compared to the fourth quarter of 2022.
“The agriculture sector grew by 2.10 per cent, from the growth of 2.05 per cent recorded in the fourth quarter of 2022. The growth of the industry sector was 3.86 per cent, an improvement from -0.94 per cent recorded in the fourth quarter of 2022. In terms of share of the GDP, industry, and the services sectors contributed more to the aggregate GDP in the fourth quarter of 2023 compared to the fourth quarter of 2022. On an annual basis, GDP grew by 2.74 per cent in 2023 relative to 3.10 per cent in 2022,” the report added.
More details soon…
News
JUST IN: Police Deal Off PDP National Secretariat

Operatives of the Nigeria Police on Wednesday sealed the National Secretariat of the Peoples Democratic Party, PDP, at Wadata Plaza, Abuja.
The development is linked to the face-off between two factions of the party on Tuesday.
Pandemonium broke out at the facility on Tuesday when the Saminu Turaki-led faction clashed with members loyal to the Minister of the Federal Capital Territory, Nyesom Wike.
Governor Seyi Makinde of Oyo State and his Bauchi counterpart, Bala Mohammed, were teargassed during the confrontation.
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DAILY POST observed on Wednesday that barbed wire was used to create a barrier to prevent anyone from gaining access to the premises.
None of the leaders of the two warring groups was sighted at the secretariat, as only a handful of policemen were on the ground.
However, supporters of the faction led by Kabiru Turaki opposed the decision of the police to barricade the premises.
News
JUST IN: Insecurity: Tinubu Suspends Trip To G20, AU-EU Summit

President Bola Ahmed Tinubu has put off his scheduled trip to Johannesburg, South Africa and Luanda, Angola, as he awaits further security briefings on the kidnapped Kebbi schoolgirls and the attack on Christ Apostolic Church worshippers in Eruku, Kwara State.
This was contained in a statement released by his Special Adviser on Information and Strategy, Bayo Onanuga, on Wednesday in Abuja.
The statement said Tinubu has ordered the deployment of more security operatives to Eruku and the entire Ekiti Local Government Area of the state, and directed the police to go after the bandits who attacked worshippers.
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The President Tinubu was scheduled to leave Abuja on Wednesday to attend the 20th G20 Summit of leaders in South Africa and thereafter proceed to Luanda to attend the 7th AU-EU Summit.
“Disturbed by the security breaches in Kebbi State and Monday’s attack by bandits against worshippers at Christ Apostolic Church, Eruku, President Tinubu decided to suspend his departure.
“He now awaits reports from Vice President Kashim Shettima, who paid a sympathetic visit to Kebbi on his behalf, as well as reports from the police and the Department of State Services regarding the attack in Kwara,” the statement said.
According to the statement, the President reiterated his directive to the security agencies to do everything possible to rescue the 24 schoolgirls abducted by the bandits and bring the girls back home safe.
News
IPF Holds Annual Ijaw Media Conference December

The Ijaw Publishers’ Forum has announced the second edition of its annual Ijaw Media Conference.
The conference themed “Safeguarding Oil and Gas Natural Resources for Future Generations in the Niger Delta” will take place on December 11, 2025, at KFT Place, beginning at 12 noon.
In a statement signed by the IPF National President, Comrade Ozobo Austin, the Forum noted that the conference is intended to strengthen public understanding of the dangers of oil theft, unchecked exploitation, and environmental pollution.
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The statement highlighted the severe harm these practices inflict on the region, affecting both ecological systems and human communities and hindering long-term development.
The 2025 planning committee, chaired by Arex Akemotubo, has Tare Magbei as Secretary. The committee is charged with the responsibility of a successful programme.
Other members of the committee are:
Francis Abai, Financial Secretary while
Ezekiel Kagbala, Sunday Daniel; Mike Ugedi, Dr Kegbe, Sam Dogitimi,
Tam Okumbiri, serve as members.
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The Forum urged leaders, stakeholders, and young people to work with relevant authorities and security groups to support continued public awareness efforts aimed at protecting the region’s natural resources and the wellbeing of its inhabitants.
The IPF also called for sponsorship and invites all stakeholders and the wider public to attend the conference on December 11, 2025
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