As the Nigerian economy grew slower in the first quarter of 2024, estimates show that the country may not meet the 3.3 per cent Gross Domestic Product (GDP) forecast for the year with first quarter estimates putting the GDP at 3.0 per cent.
According to data by the Africa Export Import Bank (AFREXIM), Nigeria is one of four countries on the continent that has, so far, released estimates and one of the three that did not meet the target. Data provided by AFREXIM showed that only Mozambique is so far on target, with an estimate of 5.0 per cent growth.
The data showed that South Africa which is expected to grow by 0.9 per cent, has estimated a -0.1, while Tunisia which has a forecast of 1.9 per cent has a Q1 estimate of 0.2 per cent GDP growth.
Data by the National Bureau of Statistics (NBS) show that Nigeria’s GDP) growth rate slowed to 2.98 per cent, in real terms in the first quarter of the year compared to 3.46 percent in the preceding quarter, the National Bureau of…
Source: Leadership Newspaper
