Infrastructural activities in the Construction and Real estate sector reduced by 7.4 per cent in its contribution to Nigeria’s
For the real estate sector, the statistics agency recorded a relative decline of 4.46 per cent compared to 5.62 per cent contributed in the fourth quarter of 2022.
“On a quarter-on-quarter, the sector growth rate was -28.39 per cent. The contribution to nominal GDP in Q1 2023 stood at 4.46 per cent, relative to 4.92 per cent recorded in the first quarter of 2022 and 5.62 per cent in the fourth quarter of 2022. The PUNCH reports that housing experts before the data release had predicted a reduction in the sector’s GDP contribution.
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