NIGERIA: Nigeria’s GDP Grows by 4.23% in Q2 2025 – NBS

By Ameenat Hamzat, Lagos, Nigeria 

Nigeria’s real Gross Domestic Product (GDP) grew by 4.23 per cent year-on-year in the second quarter of 2025, according to the National Bureau of Statistics (NBS).

The Q2 2025 GDP Report, released on Monday on the bureau’s website, showed an improvement compared to 3.48 per cent recorded in the same quarter of 2024 and 3.13 per cent in the first quarter of 2025.

The report noted that the growth was driven by a rebound in oil production, a resilient non-oil sector, and the recent rebasing of the GDP using 2019 as the base year.

The NBS stated: “Following the rebasing of the Gross Domestic Product using 2019 as the base year, previous quarterly GDP estimates were benchmarked to the rebased annual estimates to align the old series with the new rebased estimates. This procedure provided a new quarterly GDP series, which is compared to the 2025 second quarter estimates. Gross Domestic Product grew by 4.23% (year-on-year) in real terms in the second quarter of 2025.”

According to the report, the agriculture sector recorded a growth of 2.82 per cent, higher than 2.60 per cent in the corresponding quarter of 2024. The industry sector grew significantly at 7.45 per cent, up from 3.72 per cent in Q2 2024, while the services sector recorded a growth of 3.94 per cent compared to 3.83 per cent in the same period last year.

In terms of contribution to the GDP, the industry sector accounted for 17.31 per cent in Q2 2025, higher than the 16.79 per cent recorded in Q2 2024.

The NBS further reported that aggregate GDP at basic prices stood at N100.73 trillion in nominal terms, compared to N84.48 trillion in Q2 2024, representing a nominal year-on-year growth of 19.23 per cent.