Nigeria Tasso di Crescita annuale del PIL

Nigeria's annual economic growth accelerated to 3.46% in the fourth quarter of 2023, up from 2.54% in the prior period, surprising analysts who expected it at 2.4%. It marks the 13th consecutive quarter of economic expansion and the strongest in a year, driven mainly by the non-oil sector (3.07% vs 2.75% in Q3). Notably, the services sector recorded a growth of 3.98%, contributing 56.55% to the aggregate GDP, primarily due to finance & insurance (+29.8%) and information & communication (+6.3%). Meanwhile, the key oil sector experienced a sharp rebound (12.1% vs -0.83%), ending over three years of contraction, as production increased to 1.55 million barrels per day, from 1.34 million barrels a year earlier. On a quarterly basis, the GDP jumped by 12% in Q4. Considering the entire year of 2023, Nigeria's economic growth reached 2.74%, compared to 3.10% a year earlier. President Tinubu’s administration is targeting a growth rate of about 3.8% in 2024 and 6% or more in the coming years.