Nigeria’s economy grew by 4.23 percent year-on-year in real terms in the second quarter of 2025, according to the National Bureau of Statistics (NBS). The figure represents an improvement over the 3.48 percent growth recorded in the same quarter of 2024.
The NBS, in its Nigerian Gross Domestic Product (GDP) Report Q2 2025 released on Monday, said the performance was largely driven by higher output in the industry and oil sectors, alongside steady contributions from services and agriculture.
“The aggregate GDP at basic price stood at ₦100,730,501.10 million in nominal terms. This performance is higher when compared to the second quarter of 2024, which recorded an aggregate GDP of ₦84,484,878.46 million, indicating a year-on-year nominal growth of 19.23 percent,” the bureau said.
Agriculture expanded by 2.82 percent in Q2 2025, slightly above the 2.60 percent growth in the corresponding quarter of 2024. The industry sector recorded the sharpest growth at 7.45 percent, compared with 3.72 percent in the same period last year. The services sector grew by 3.94 percent, up from 3.83 percent in Q2 2024.
In terms of GDP share, the industry sector contributed 17.31 percent in the quarter under review, an increase from 16.79 percent in the same quarter of 2024.
The oil sector played a decisive role in the overall performance. Average daily crude oil production rose to 1.68 million barrels per day (mbpd), up from 1.41 mbpd in Q2 2024 and slightly higher than the 1.62 mbpd recorded in the first quarter of 2025.
“The real growth of the oil sector was 20.46 percent year-on-year in Q2 2025, indicating an increase of 10.38 percentage points relative to the rate recorded in the corresponding quarter of 2024,” the NBS reported.
It added that quarter-on-quarter, the sector grew by 6.01 percent and contributed 4.05 percent to real GDP, up from 3.51 percent in Q2 2024.
The non-oil sector, which accounts for the bulk of the economy, grew by 3.64 percent in real terms, compared with 3.26 percent in the same quarter of 2024 and 3.19 percent in Q1 2025.
“This sector was driven in the second quarter of 2025 mainly by agriculture (crop production); information and communication (telecommunications); real estate; financial and insurance (financial institutions); trade; construction; and electricity, gas, steam and air conditioning supply, accounting for positive GDP growth,” the bureau said.
Despite the improvement, the NBS noted that the non-oil sector’s share of GDP dropped slightly to 95.95 percent, down from 96.49 percent in Q2 2024 and 96.03 percent in Q1 2025.
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