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

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.
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.”
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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.
“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.
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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.
“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.”
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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.
“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.”
News
Back To School: Lions Club Distributes Educational Materials In Edo Schools
The Benin Etete Unique and Edo Heritage Lions of the International Association of Lions Club on Friday jointly distributed educational materials to two schools in Benin City as part of the association corporate services to humanity.
The two clubs in District 404-A4 Lions Nigeria, jointly carried out the distribution of notebooks, maths sets, school bags and sandals, pens and other writing materials to excited pupils in Ivbioba Primary School and Oghede-Ivioba Primary School, Ugbighoko, Egor Local Government Area, and Evbiyenava Primary School, in Ikpoba-Okha Local Government Area of Edo State.
Themed, Back to School Project, pupils were also engaged in Reading Action Program (RAP) and Spelling Bee Competition, after which winners were presented with special prizes.
In their remarks, Lions Darlington Uyi and Franca Nikoro, presidents of Benin Etete Unique and Edo Heritage Lions Clubs stated that the vision of the Lions International is to serve humanity.
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They, therefore, tasked pupils on commitment to their studies in order to attain their fullest potentials in life.
“Emulate Lions in your visions for tomorrow. We have various professionals as members, and if you are committed to your studies, obedient to your parents and teachers, you will attain great heights,” Lion Uyi Darlinton Stated.
“Our vision is to serve, and we are here like we do every period to ensure Literacy is inculcated in pupils to enable them to attain their full potential. It is our earnest desire that you grow into well rounded personalities. Literacy is important in order to actualize that aspiration,” Franca Nikoro stated.
Earlier, in his address, Lion Sir Dede Henry Idemudia, Zone 6A Chairperson, tasked the pupils on good conduct, honour to parents and guardians and obedience to instructions of school authority.
News
NAFDAC Gives Nigerian Food Companies 18 Months To Cut Trans Fats
The National Agency for Food and Drug Administration and Control has set an 18-month grace period, effectively giving food companies until early 2026 before facing full enforcement of regulations to eliminate industrially produced Trans-Fatty Acids (TFA).
The initiative, launched as a comprehensive strategy and roadmap for TFA regulation, moves Nigeria from simply having the policy to enforcing its world-class standard: a regulatory limit of no more than two grams of industrially produced trans fat per 100 grams of total fat or oil.
The Director-General of NAFDAC, Professor Mojisola Adeyeye, emphasised that the roadmap moves the country beyond policy creation to aggressive enforcement and implementation.
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This was contained in the NAFDAC DG’s keynote speech posted on the agency’s official X (formerly Twitter) on Friday.
Adeyeye stressed the moral imperative of the Agency’s mission.
“The removal of industrially produced trans fats from the food chain is not only a technical achievement, but a moral imperative.
“Eliminating industrially produced trans fats is possible, achievable, necessary, and urgent,” Adeyeye stated, calling for national collaboration.
The moratorium period is designed to allow manufacturers to exhaust existing stock with outdated labels and reformulate their products to comply with the legal limit.
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NAFDAC’s action targets a dangerous dietary risk factor strongly linked to cardiovascular disease, stroke, and premature death globally.
Adeyeye emphasised the significance of the move beyond technical compliance, noting, “The removal of industrially produced trans fats from the food chain is not only a technical achievement, but a moral imperative.”
This aggressive step builds upon Nigeria’s existing reputation; the country was recognised by the World Health Organisation in 2023 for adopting best-practice TFA elimination policies.
The new roadmap is key to securing WHO validation of Nigeria’s full TFA elimination programme, establishing the nation as a regional leader in public health interventions.
News
Mohbad’s Father Urges Lagos AG To Prosecute Wife, Nurse, Others
Joseph Aloba, the father of late singer Mohbad, has urged the Lagos State government to initiate criminal proceedings against individuals named in the coroner’s inquest into his son’s death.
Mohbad passed away on September 12, 2023, following an injection administered by auxiliary nurse Feyisayo Ogedengbe.
Despite being buried the next day, public outcry and ongoing investigations led to the exhumation of his body on September 21, 2023, for an autopsy.
In a letter dated October 3 and addressed to the attorney general of Lagos State through his lawyers, Aloba demanded that criminal charges be filed against those indicted within 14 days.
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“Specifically, we refer to persons indicted by the coroner’s verdict hereunder: Miss Ogedengbe Fisayo, indicted for unlawful medical practice and gross medical negligence; and Mrs. Omowunmi Aloba, indicted for negligence,” the letter reads.
“This includes Ibrahim Owodunni, a.k.a. Prime Boy, and others who either facilitated the invitation of the auxiliary nurse or refused to take him promptly to a recognised medical facility for treatment.”
Mohbad’s father said he was concerned that despite the coroner’s clear verdict, no prosecutorial steps had been taken against those indicted nearly three months after the judgment.
He asked the attorney general to exercise prosecutorial powers within the 14 days, or, in the alternative, grant him and his legal team a fiat to prosecute the matter on behalf of the state.
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“Our Client, as a bereaved father desirous of ensuring that justice is done and seen to be done, is deeply concerned that notwithstanding the clear indictments contained in the Coroner’s Verdict, no prosecutorial steps have been taken against the aforementioned persons since the delivery of the Verdict on 11th July, 2025,” the letter reads.
“The judicial observations amount to clear indictments warranting the prosecution of the said individuals in order to give full effect to the Coroner’s findings and recommendations, and to ensure that justice is manifestly and adequately served in this matter.
“We request that you exercise your prosecutorial power on the above subject matter within 14 Days Next, in view of the high sensitivity of this matter and the public attention and outrage it has generated.”
In October 2023, Naira Marley and Sam Larry were arrested over allegations linking them to Mohbad’s death, but were released on bail after five weeks in detention.
By February 2025, a magistrate court cleared them of any involvement in the singer’s demise.
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