Nigeria’s Gross Domestic Product (GDP) grew by 3.98% in the third quarter of the year, according to fresh data released by the National Bureau of Statistics (NBS). The bureau explained that the growth shows steady improvement in economic activities across many sectors. This rise is also higher than what was recorded in the previous quarter, signalling a positive trend for the nation’s economy.

Experts say the growth was driven mainly by improvements in services, agriculture, and the telecom sector. These industries saw increased productivity and stronger market demand, helping to push the overall GDP upward. The NBS report noted that while some sectors are still facing challenges, the overall performance reflects resilience.

Economists believe the Q3 performance may boost investor confidence, especially as the government continues to implement reforms aimed at stabilising the economy. They noted that sustained growth could help reduce unemployment, encourage business expansion, and improve national revenue in the long run.

Despite the positive results, analysts warn that Nigeria must address inflation, insecurity, and rising production costs to maintain consistent growth. They added that stronger policies and improved infrastructure will be needed to support the momentum going into the next quarter.