The National Bureau of Statistics NBS reported that Nigeria's economic growth was primarily driven by the services sector, which contributed 53.58 to the overall GDP, with a growth rate of 5.19. This sector includes industries such as telecommunications, finance, and trade.
Despite the positive GDP figures, challenges like high inflation, unemployment, and currency devaluation continue to affect Nigeria's economic health. The NBS's report offers some hope, indicating potential recovery. However, sustained growth requires addressing structural issues and implementing policies that promote job creation, investment, and sustainable development.
