Nigeria's economy has shown signs of growth, with a real GDP growth rate of 3.46% year over year in Q3 2024, slightly higher than the 3.19% growth rate in the previous quarter. However, not all sectors have contributed equally to this growth, with some experiencing sluggish expansion.

According to the Gross Domestic Product (Q3 2024) report by the National Bureau of Statistics (NBS), the top 10 sectors with the least growth in GDP contribution in Q3 2024 have been identified. The Textile, Apparel, and Footwear sector ranks number one on the list, with a nominal GDP growth rate of just 0.23%. Other sectors that made the list include Basic Metal, Iron and Steel, Pulp, Paper and Paper Products, and Fishing, among others.

While Nigeria's overall GDP growth in Q3 2024 reflects progress, addressing the slow growth in key sectors is essential for inclusive and sustainable economic development. The country's issues with unemployment, inflation, and unpredictable oil prices only underscore the need for diversified economic growth.

Despite these challenges, certain businesses have grown rapidly, demonstrating their potential to move the economy toward sustainability and diversification. However, the slow growth in certain sectors highlights the need for targeted interventions to address the underlying issues hindering their growth.

The National Bureau of Statistics' report provides valuable insights into sectoral contributions to Nigeria's economic growth. By understanding the sectors that are lagging behind, policymakers and stakeholders can develop targeted strategies to stimulate growth and promote inclusive economic development.

In conclusion, Nigeria's economy has shown signs of growth, but the slow growth in certain sectors is a cause for concern. Addressing these issues will be crucial to achieving sustainable and inclusive economic development in Africa's largest economy.