Nigeria’s real Gross Domestic Product (GDP) surged by 4.23% year-on-year in the second quarter of 2025, according to the latest GDP Report released by the National Bureau of Statistics (NBS).
The new growth figure marks a notable improvement from the 3.48% recorded in Q2 2024 and the 3.13% posted in Q1 2025, underscoring renewed momentum in Africa’s largest economy.
The NBS attributed the stronger performance to a combination of factors, including the recent rebasing of national accounts, a rebound in crude oil production, and the resilience of the non-oil sector.
“Following the rebasing of the GDP with 2019 as the base year, historical quarterly estimates were benchmarked against the new series. This alignment provided a refreshed GDP trajectory, with Q2 2025 growth reaching 4.23% in real terms,” the report noted.
Sectoral Breakdown
Agriculture grew by 2.82%, up from 2.60% in the same quarter of 2024, reflecting steady improvements in crop production and related activities.
Industry recorded the sharpest expansion, growing by 7.45%, more than double the 3.72% growth of Q2 2024, buoyed by improved oil output and stronger manufacturing activity.
Services maintained positive momentum with a 3.94% growth rate, slightly higher than the 3.83% posted a year earlier.
Contribution to GDP
The Industry sector’s share of GDP rose to 17.31% in Q2 2025, up from 16.79% in Q2 2024, signaling its increasing role in driving economic expansion.
Meanwhile, Nigeria’s aggregate nominal GDP at basic prices stood at ₦100.73 trillion in Q2 2025, compared to ₦84.48 trillion in Q2 2024—representing a robust 19.23% year-on-year nominal growth.
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