GDP Growth Reduced to 3.10 percent in 2022

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Reports say severe incidences of flooding in 2022 slowed Nigeria’s Gross Domestic Product growth to 3.10 per cent in 2022 from 3.40 per cent in 2021.

According to GDP results from the National Bureau of Statistics, reduced growth in the agriculture and industrial sector of the economy slowed GDP growth in 2022.

It stated that the overall growth rate of the agriculture sector fell from 2.13 per cent in 2021 to 1.88 per cent in 2022.
The overall performance of the agriculture and industry sector fell in 2022 compared to 2021, while the performance of the service sector improved in 2022.

Written by: Helen Obih

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