Nigeria’s GDP Expands 3.8% in Q4 2024, Driven by Services Sector

• GDP growth reaches 3.4% for the year, surpassing the World Bank’s 3.3% forecast
• Telecoms, banking, and trade fuel expansion, while oil & gas lags behind

Lagos, Nigeria – Nigeria’s economy grew by 3.8% year-on-year in the fourth quarter of 2024, buoyed by strong expansion in the services sector, according to data released by the National Bureau of Statistics on Tuesday.