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Nigeria’s nominal GDP has grown by over 80%, but real GDP has grown by only 6%
  • Real GDP grew from ₦205.1 trillion in 2019 to ₦217.8 trillion in 2024, a modest 6% rise.
  • Nominal GDP jumped from ₦205.1 trillion to ₦372.8 trillion over the same period, an 82% increase.
  • The gap between nominal and real GDP widened sharply after 2021, reaching ₦155 trillion in 2024.
  • Nominal GDP has grown year-on-year, with the steepest jump between 2023 (₦314.0 trillion) and 2024 (₦372.8 trillion).
  • Inflationary pressures have driven nominal gains, masking subdued real economic expansion.

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