Nigeria’s Industrial Sector Reports a GDP Contraction of -8%

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Nigeria’s industrial sector shrank to its lowest value as a contribution to GDP in 7 years.

Data from the National Bureau of Statistics, NBS, revealed that Nigeria’s Industrial sector reported a GDP contraction of -8% in the third quarter of 2022.

This is the 6^th consecutive quarterly recession having recorded another contraction in the third quarter of 2022.

Written by: Helen Obih

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