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Nigeria’s GDP slows to 2.31% in Q1’23 - VANGUARD

MAY 25, 2023

By Elizabeth Adegbesan

Nigeria’s Gross Domestic Product, GDP, slowed to 2.31 per cent in the first quarter of 2023 (Q1’23) due to the effect of the cash crunch experienced during the quarter.

The National Bureau of Statistics,NBS, disclosed this today in its GDP report for Q1’23.

The NBS said that GDP grew by 2.31 per cent year-on-year in real terms in the reviewed period from 3.52 per cent in Q4 2022 and 3.11 per cent in the corresponding period of 2022.

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