GDP grows by 3.54% in Q2 2022 – NBS

The National Bureau of Statistics says Nigeria’s Gross Domestic Product grew by 3.54 per cent in the second quarter of 2022 on a year-on-year basis.

This is contained in a statement issued by the Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics, Prince Semiu Adeniran, on the Nigerian Gross Domestic Product Report Q2, 2022 in Abuja on Friday.

Semiu said in nominal terms, aggregate GDP stood at N45 trillion in the second quarter of 2022.

According to him, this performance is higher when compared to the second quarter of 2021 which recorded N39.12 trillion, indicating a year-on-year nominal growth rate of 15.03 per cent.

He said the nominal GDP in the preceding quarter of Q1 2022 stood at N45.32 trillion.

Adeniran said that in terms of real GDP, the second quarter of 2022 was recorded at N17.29 trillion.

“This is higher by N591.22 billion than the N16.69 trillion recorded in the second quarter of 2021.

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