Nigeria’s economy grew by 3.84% in the last quarter of 2024, reaching ₦22.61 trillion. This was driven by strong growth in financial services, trade, and technology, while the electricity sector declined due to higher tariffs and grid issues.
The oil sector grew slowly at 1.48% as crude prices fell, but increased production helped limit the impact. Meanwhile, the non-oil sector expanded by 3.96%, contributing most of the growth.
Financial services, digital expansion, and improved logistics boosted the economy. The CBN expects more growth in 2025 but warns of risks from oil prices and inflation.
