Forecast: Wholesale, Retail Trade, Restaurants and Hotels Contribution to GDP in Nigeria

Over the past decade, the contribution of Wholesale, Retail Trade, Restaurants, and Hotels to Nigeria's GDP has shown a consistent upward trajectory, increasing steadily from 17.92 in 2013 to 23 in 2023. Significant year-on-year variations include a 1.33% increase from 2022 to 2023 and a cumulative 2.92% growth from 2021 to 2023. The Compound Annual Growth Rate (CAGR) over the past five years has averaged 0.92%. Forecasts predict continued growth, reaching 24.37 by 2028, representing an overall growth rate of 4.68% over the next five years.

Future trends to watch for include the impact of accelerating digital transformation and e-commerce growth, consumer spending patterns influenced by economic policies, and potential shifts due to global economic factors. Monitoring these will be crucial for strategic decisions in this sector.