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Services, petrol refining sectors pilot GDP growth to 3.84%

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By Kayode Sanni-Arewa

This is fastest growth rate in three years, says Edun
Yusuf: economy on track
Uwaleke: real sector still slow
Experts last night expressed optimism about the economy with the 3.84 per cent year-on-year Gross Domestic Product (GDP) growth.

The government also renewed its commitment to faithfully implementing its economic policies which it credited for this development.

Tuesday, the National Bureau of Statistics (NBS) released the 2024 fourth quarter GDP outcome – 3.84 per cent, compared to the 3.46 per cent of Q4 2023.

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Services and petrol refining sectors were the key drivers of the growth, according to the report.

Statistician-General of the Federation, Prince Adeyemi Adeniran, said the growth was 0.38 per cent points higher than the 3.46 per cent of Q4 2023.

Adeniran said: “The Gross Domestic Product (GDP) growth rate in real terms (Constant price) grew by 3.84 per cent in the fourth quarter (Q4) of 2024 on a year-on-year basis, which is 0.38 per cent points higher than the rate recorded in Q4 2023 (3.46 per cent

“The annual contributions of the economic sector showed that agriculture contributed 24.64 per cent in 2024, which is lower compared to its contributions which stood at 25.18 per cent in 2023.

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“Similarly, the industry sector’s annual contribution was 18.47 per cent, which is also lower than the figure recorded for 2023 (18.65%).

“However, the services sector contributions for 2024 were 56.89 per cent, which exceeded the 56.18 per cent recorded for 2023.

The oil GDP grew by 1.48 per cent in Q4 2024, which showed a decline compared to 12.11 per cent recorded in Q4 2023, and the previous quarter of Q3 2024 which stood at 5.17 per cent.

“The oil sector accounted for 4.60 per cent during the quarter under review.

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“The annual oil GDP for 2024 grew by 5.54 per cent, which is 7.75 per cent higher than the annual GDP recorded for 2023 (-2.22 per cent). while the annual contribution of oil stood at 5.51 per cent in 2024 higher than its contribution in Q4 2023 (5.40 per cent)

The fourth quarter of 2024 recorded an average daily oil production of 1.54 million barrels per day (mbpd), lower than the daily average production of 1.56 mbpd recorded in the same quarter of 2023 by 0.03 mbpd.

“On the contrary, the fourth quarter of 2024 production volume was higher than the third quarter of 2024 (1.47 mbpd) by 0.06 mbpd.

“The non-oil sector contributes 95.40 per cent to the GDP in Q4 of 2024 in real terms.

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“This shows an increase on a year-on-year basis when compared to the same period of Q4 2023 which recorded 95.30 per cent.

“Similarly, the quarter under review exceeds the 94.43 per cent recorded in Q3 2024.

“The economic performance of the non-oil sector in Q4 2024 is attributed to the growth recorded in some economic activities, including rail transport & pipelines, metal ores, financial institutions, road transport, quarrying and other minerals, and insurance,

“On an annual basis, the non-oil grew by 3.27 per cent in 2024, which is higher than the rate recorded in 2023 which stood at 3.04 per cent, while in terms of aggregate contributions, the non-oil contributed 94.49 per cent in 2024, which is lower than the 94.60 per cent reported in 2023.”

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Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, expressed his satisfaction with the report, which indicates that the economy has achieved its fastest growth rate in three years.

In a statement for the ministry, Edun lauded the positive indicators, which he attributed to the effectiveness of President Bola Tinubu’s Renewed Hope Agenda and the resilience of the Nigerian economy.

We are pleased to see the continued growth momentum, both from a quarterly and annual standpoint.

“The expansion of the services sector and our ongoing efforts to strengthen food security through agricultural investments are yielding positive results,” the minister stated.

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He assured of the government’s commitment to ensuring that economic growth translates into tangible improvements in the living standards of all Nigerians.

In pursuit of this goal, the Federal Government is actively implementing various initiatives, including the direct benefit transfer scheme aimed at providing immediate economic relief and support to the vulnerable.

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Osun Election: Police Release DIG, CP and Emergency Contact Numbers

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As preparations intensify for the forthcoming Osun State Governorship Election, the Nigeria Police Force has urged members of the public to promptly report emergencies, security concerns and other election-related incidents through designated contact lines.

The public can reach the police through the following numbers:

📞 DIG Election: 08139235585
📞 CP Election: 08134277587
📞 Control Room: 08108756818

Members of the public who wish to report cases of police misconduct can contact the Complaint Response Unit on:

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📞 08057000001
📞 08057000002
📞 08057000003

The police urged residents to remain vigilant, peaceful and law-abiding, stressing that timely reporting of incidents would help security agencies respond effectively and maintain a safe environment before, during and after the election.

Your voice matters. Report promptly. Stay peaceful. Help keep Osun safe.

Major Candidates in Osun Governorship Election

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The 2026 Osun State Governorship Election is shaping up as a closely contested race, with 14 candidates on the ballot. However, the contest has largely centred on three major candidates — Governor Ademola Adeleke of the Accord Party, APC candidate Bola Oyebamiji, and ADC candidate Najeem Salaam.

Ademola Adeleke — Accord Party

Ademola Adeleke is seeking re-election for a second term as governor of Osun State.

Adeleke, who won the 2022 governorship election on the platform of the Peoples Democratic Party (PDP), is now contesting under the Accord Party.

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His campaign is anchored on his administration’s record in office, with the governor seeking to retain the state’s top political position for another four years.

Bola Oyebamiji — APC

The All Progressives Congress (APC) is represented by Munirudeen Bola Oyebamiji, a former Commissioner for Finance in Osun State and former Managing Director of the National Inland Waterways Authority (NIWA).

Oyebamiji emerged as the APC candidate and is regarded as one of the strongest challengers to Adeleke.

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The APC is banking on its political structure and support base across the state to return the party to power in Osun.

Najeem Salaam — ADC

Najeem Salaam, the candidate of the African Democratic Congress (ADC), is another prominent contender in the election.

Salaam is a former Speaker of the Osun State House of Assembly and has considerable political experience in the state.

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His candidacy has also attracted attention as the ADC seeks to strengthen its presence in Osun and across the country ahead of the wider political contests leading to the 2027 general elections.

The Three-Way Contest

With the election approaching, the race is increasingly being viewed as a three-way contest involving Adeleke, Oyebamiji and Salaam, although other candidates are also participating.

The election will therefore test the strength of the incumbent governor’s political machinery, the APC’s efforts to reclaim Osun and the ADC’s growing influence in the state’s political landscape.

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With voters across the state expected to decide who will govern Osun for the next four years, security, voter turnout, electoral integrity and the ability of the candidates to mobilise supporters peacefully are expected to be critical factors in determining the outcome.

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Army Opens Application For Short Service Combatant Commission Course 50/2027

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The Nigerian Army has opened applications for eligible Nigerians seeking commission into the force under the Short Service Combatant Commission (SSCC) Course 50/2027.

The Army announced the commencement of the recruitment exercise in a statement released on Tuesday, saying the application is open to qualified civilians and serving military personnel who meet the required conditions.

Successful applicants will undergo training and, upon commissioning, serve as SSCC officers in the Combat Arms, including the Infantry and Armour Corps, as well as Combat Support Arms comprising the Artillery, Engineers, Signals and Intelligence Corps.

Prospective applicants are required to visit the official Nigerian Army recruitment portal at nashortservice.army.mil.ng and select the SSCC option.

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Applicants are expected to carefully follow the instructions provided on the portal when completing their applications.

The Nigerian Army urged members of the public to disregard any recruitment portal or announcement claiming that applications were opened before the official publication.

The Army also advised prospective applicants to rely only on information published through its official channels.

Applicants and members of the public were further encouraged to watch for official recruitment jingles on television and radio stations following the announcement.

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The deadline for applications is Saturday, October 17, 2026.

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Osun Gov Election: APM Candidate Withdraws, Backs Adeleke

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The governorship candidate of the Allied People’s Movement (APM) in the Osun State governorship election, Hon. Adebayo Simon Adewale, has withdrawn from the race and declared his support for the incumbent governor and Accord Party candidate, Senator Ademola Jackson Nurudeen Adeleke.

Adewale announced his decision at a press conference on Thursday, August 13, saying he had reached the decision after deep reflection and extensive consultations with party leaders, supporters and other stakeholders.

He described his withdrawal as a “conscious choice to place the interest of Osun State above personal ambition,” urging members of the APM and his supporters across the state to vote for Adeleke in Saturday’s election.

According to him, the decision was motivated by his conviction that Adeleke deserves another term to consolidate the achievements of his administration.

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“Having carefully assessed the situation, I believe Governor Ademola Adeleke deserves another term to consolidate the progress his administration has recorded,” Adewale said.

He added that his decision was not influenced by pressure or personal interest, but was based on what he described as the collective interest of Osun State.

Adewale said politics should ultimately be about serving the people, stressing that his decision was aimed at promoting peace, stability, development and the overall wellbeing of the state.

“Accordingly, I hereby declare my full support for the re-election of His Excellency, Senator Ademola Jackson Nurudeen Adeleke, and I call on all my supporters, members of the Allied People’s Movement, and the good people of Osun State to join me in supporting his re-election,” he said.

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The APM candidate also directed members of his party and his supporters to back Adeleke at the polls scheduled for Saturday.

He concluded by calling for unity and a focus on the future of Osun State, saying his decision was taken in the belief that it would best serve the people.

“Politics should always serve the people, and today, I have chosen the path that I believe will best advance peace, stability, development, and the collective interest of our state,” he added.

The development comes less than 48 hours before Osun State voters are expected to elect their next governor.

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