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JUST IN: Nigeria Records 2.98% GDP Growth In Q1’24

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Nigeria recorded a 2.98 percent growth in Gross Domestic Product, GDP, in the first quarter of the year (Q1’24).

This represents a 0.48 percentage point quarter -on-quarter decline in GDP growth when compared with 3.46 percent growth recorded in Q4’23.

The National Bureau of Statistics, NBS, disclosed this today in its Nigeria GDP report for Q1’24.

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NBS said, “Nigeria’s GDP grew by 2.98 percent (year-on-year) in real terms in the first quarter of 2024.

“This growth rate is higher than the 2.31 percent recorded in the first quarter of 2023 and lower than the fourth quarter of 2023 growth of 3.46 percent.”

READ ALSO: ‘Nigeria’s Poverty Level Alarming,’ Sowore Slams Tinubu

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According to the bureau, the performance of the GDP in the first quarter of 2024
was driven mainly by the Services Sector, which recorded a growth of 4.32 percent and contributed 58.04 percent to the aggregate GDP.

“The agriculture sector grew by 0.18 percent,from the growth of -0.90 percent recorded in the first quarter of 2023.

“The growth of the industry sector was 2.19 percent, an improvement from 0.31 percent recorded in the first quarter of 2023.

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“In terms of share of the GDP, the services sector contributed more to the aggregate GDP in Q1’24 compared to the corresponding Q1’23”, it added.

The Nigerian economy has been classified broadly into the oil and non-oil sectors.

READ ALSO: Tinubu’s First Year In Office Tragedy – Elder Statesman

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On oil sector, NBS noted that the nation in Q1’24 recorded an average daily oil production of 1.57 million barrels per day (mbpd), higher than the daily average production of 1.51. mbpd recorded in the same quarter of 2023 by 0.06 mbpd and higher than the fourth quarter of 2023 production volume of 1.55 mbpd by 0.02 mbpd.

It added, “The rea growth of the oil sector was 5.7 percent (year-on-year) in Q1’24, indicating an increase of 9.91 percentage points relative to the rate recorded in the corresponding quarter of 2023(4.21 percent).

“Growth decreased by 6.41 percentage points when compared to Q4’ 2023 which was 12.11 percent.

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“On a quarter-on-quarter basis, the oil sector recorded a growth rate of 13.77 percent in Q1’ 24.

“The Oil sector contributed 6.38 percent to the total real GDP in Q12024, up from the figure recorded in the corresponding period of 2023 and up from the preceding quarter, where it contributed 6.21 percent and 4.70 percent respectively.”

READ ALSO: Protesters Lay Siege To Villa, N’Assembly Over Sanusi’s Reinstatement

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On non oil sector, NBS stated: “The non-oil sector grew by 2.8 percent in real terms during the reference quarter (Q1’24).

“This rate was higher by 0.02 percentage points compared to the rate recorded in the same quarter of 2023 and 0.28 percentage points lower than the fourth quarter of 2023.

“This sector was driven in the first quarter of 2024 mainly by Financial and Insurance (Financial Institutions); Information and Communication (Telecommunications); Agriculture(Crop production); Trade; and Manufacturing (Food, Beverage, and Tobacco), accounting for positive GDP growth.

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“In real terms, the non-oil sector contributed 93.62 percent to the nations GDP in the Q1’24,
lower than the share recorded in the first quarter of 2023 which was 93.79 percent and lower than the fourth quarter of 2023 recorded as 95.3 percent.”

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NAF Launches Attack On Terrorists In Borno

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The Nigerian Air Force, NAF, operating as part of the joint task force of Operation Hadin Kai, has carried out a coordinated air interdiction at AbbagaJiri in the Timbuktu Triangle, Borno State.

According to Air Commodore Ehimen Ejodame, Director of Public Relations and Information of NAF, the air strikes successfully paved the way for ground troops.

He explained that the operation was based on actionable intelligence from multiple sources, which confirmed the presence of terrorists, their structures, and concealed logistics facilities in the area.

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Ejodame stated that NAF air assets were deployed in integrated surveillance and precision strike roles to target identified threats.

READ ALSO:NAF Hits Bandit Logistics Hub, Neutralises Many In Zamfara

The operation aimed to degrade terrorist capabilities, deny them sanctuary, and shape the battlefield for ground forces, all while strictly adhering to rules of engagement and protecting civilians.

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He added, “The Identified terrorist structures were decisively engaged and destroyed, denying the terrorists freedom of action, while a follow-up engagement neutralised armed elements observed converging on the location.”

Subsequent advances by ground troops into the area confirmed the effectiveness of the air strikes and validated the success of the joint air–land operation.”

Speaking on the mission, Chief of the Air Staff (CAS), Air Marshal Sunday Aneke, said, “The success of the mission reflects the NAF’s resolve to dominate the air domain in support of joint operations.

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READ ALSO:NAF Hits Bandit Logistics Hub, Neutralises Many In Zamfara

Aneke further emphasized that the operation highlighted the service’s commitment to providing precise and decisive air power in support of ground forces.

In his words, “We will continue to deny terrorists freedom of movement, sanctuary, and logistics wherever they seek to hide. Air operations will remain relentless and intelligence-driven.”

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“Our operations are carefully planned and intelligence-led, ensuring maximum effect on hostile elements while safeguarding innocent civilians.”

READ ALSO:NAF Announces Two-hour Road Closure In Abuja For 10km Walk

The Nigerian Air Force will sustain pressure until terrorist networks are completely dismantled.”

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He further noted that the operation showcased NAF’s aggressive stance, precision employment of airpower, and dedication to sustained joint operations.

Aneke added that such missions play a crucial role in enabling ground troops to maintain momentum and deliver decisive outcomes against terrorist networks threatening lives, property, and Nigeria’s national security.

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Lagos Parks To Close For Maintenance – State Govt

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The Lagos State Parks and Gardens Agency, LASPARK, has announced that all public parks under its management across the state will be temporarily closed for routine maintenance and upgrades.

In a statement released on January 9 and shared via its official platforms early Saturday, LASPARK said, “All parks under our management will be closed to the public from January 12 to January 31, 2026.

“This follows increased visitor activity during the recent festive season.”

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The agency listed several popular recreational spots that will be affected, including “Ndubisi Kanu Park, Alausa JJT Park, Dr. Finnih Abayomi Park in Oregun, and all other LASPARK-managed parks across Lagos State.”

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Explaining the reason for the closure, LASPARK added, “The temporary shutdown is necessary to carry out essential landscaping, facility repairs, and general upgrades to ensure that our parks remain safe, clean, and enjoyable for residents and visitors.”

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The agency also stressed that the exercise aligns with its broader mandate, noting, “This maintenance programme is part of our commitment to providing well-maintained green spaces that promote relaxation, wellness, and environmental sustainability.”

LASPARK assured residents that “all parks will reopen at the end of the maintenance period.”

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PAP Sends Additional 34 Foreign Post-graduate Scholarship Beneficiaries To UK Varsities

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The Presidential Amnesty Programme (PAP) has deployed an additional 34 foreign post-graduate scholarship beneficiaries to various universities in the United Kingdom for the 2025-2026 academic year.

This was contained in a statement made available to newsmen in Warri by Mr Igoniko Oduma, Special Assistant on Media to Dr. Dennis Otuaro, the Administrator, PAP.

According to the statement, the scholars’ programmes include data science, fintech analytics, cyber security, international energy law and policy, construction project management, public health, agri-food technology, electrical and petroleum engineering, among others.

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The statement added that more foreign post-graduate scholars will be sent to UK universities in the current academic session.

“In December 2025, nine students, who were the first set of offshore post-graduate scholarship developments by the PAP Administrator, Dr Dennis Otuaro, for the 2024-2025 academic year, graduated from their various programmes in UK universities.

READ ALSO:PAP Scholarship Scheme Vehicle For Better Future For Niger Delta —Otuaro

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“Otuaro has deployed over 9000 students to universities within and outside Nigeria for different industry-relevant programmes since he assumed office in March 2024,” the statement partly reads.

Speaking at the pre-departure orientation programme for the scholars at the PAP headquarters in Abuja, on Thursday, Otuaro said that the large-scale deployment was aimed at making the Niger Delta a knowledge-driven region.

He said that his leadership reinvigorated the programme to give it a new momentum in service delivery to the people of the region based on the mandate of President Bola Tinubu.

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Otuaro said, “We are sending all of you for post-graduate studies in various universities in the United Kingdom.

“The PAP now has a new momentum and direction because of the repositioning and broad reforms that we carried out in line with the mandate of His Excellency, President Bola Ahmed Tinubu GCFR.

READ ALSO:Otuaro Tasks Media On Objective Reportage

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The objective behind the huge scholarships deployment is to ensure that we develop the needed human capital to transform the Niger Delta and generate knowledge-wealth.

“We want to develop relevant manpower in critical disciplines for our region and by extension, the country, because you are expected to contribute your quota to national development after successful graduation.”

The PAP boss, who was represented at the event by his Technical Assistant, Mr Edgar Biu, advised the scholars to study hard to achieve academic excellence in their various fields of research.

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According to him, the scholars have an obligation to justify the Federal Government’s investment in their education and future.

READ ALSO:I’m Not Distracted By Anti-Niger Delta Elements, Says PAP Boss, Otuaro

He reiterated his warning that beneficiaries should not take for granted the opportunity to further their academic pursuits in the interest of the Niger Delta and indeed the country.

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Otuaro expressed appreciation to President Tinubu for his “enormous interest and support for the Programme”, particularly the approval of an upward review of the programme’s budget from N65billion to N150billion.

He also expressed gratitude to the National Security Adviser, Mallam Nuhu Ribadu, for his impeccable guidance and supervision of the programme’s initiatives.

Otuaro, therefore, cautioned the scholars to obey their host country’s laws and the rules and regulations of their various institutions, stressing that they are ambassadors of Nigeria, the Niger Delta and their communities and families.

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Highpoint of the orientation programme was the presentation of laptops to the scholars to help them in their studies.

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