The Organisation of the Petroleum Exporting Countries (OPEC) has hinged Nigeria’s economic growth in the third quarter of 2023 which “exceeded expectations” on strong activities in the non-oil sectors.
OPEC, in its Monthly Oil Market Report (MOMR) for December 2023 recently released disclosed that the country’s economy registered a robust 3.1 per cent year-over-year increase in the third quarter of last year, surpassing the 2.6 per cent y-o-y growth in Q2 2023 and 2.4 per cent y-o-y in Q1 due to strong activity in the non-oil sectors, especially in services and agriculture.
However, OPEC expressed concern about inflationary pressure in the country.
