Nigeria’s economy recorded a stronger performance in the second quarter of 2025, with the Gross Domestic Product (GDP) growing by 4.23 per cent year-on-year, according to the latest data from the National Bureau of Statistics (NBS).
The figure surpasses the 3.48 per cent growth posted in the same quarter of 2024, underscoring the nation’s continued economic recovery and resilience.
Sectoral Breakdown
- Agriculture: Grew by 2.82%, up from 2.60% in Q2 2024.
- Industry: Expanded sharply by 7.45%, compared to 3.72% in the previous year.
- Services: Rose modestly by 3.94%, slightly higher than 3.83% a year earlier.
The industry sector’s share of GDP climbed to 17.31% in Q2 2025, against 16.79% in the same quarter of 2024.
In nominal terms, the economy was valued at ₦100.73 trillion, up from ₦84.48 trillion in Q2 2024—representing a 19.23% nominal growth.
Oil Sector Drives Growth
The oil sector was a major growth driver during the quarter.
- Average daily crude oil production: 1.68m barrels/day, up from 1.41m bpd in Q2 2024 and 1.62m bpd in Q1 2025.
- Real GDP growth (oil sector): 20.46%, a sharp rise from 10.08% in Q2 2024 and 1.87% in Q1 2025.
- Contribution to GDP: 4.05% in Q2 2025, compared with 3.51% a year earlier.
Mining & Quarrying
The mining and quarrying subsector expanded by 20.86%, driven by:
- Quarrying & other minerals: +50.41%
- Coal mining: +32.59%
Its GDP share rose to 4.23%, up from 3.64% in Q2 2024.
Non-Oil Sector Performance
The non-oil sector maintained steady growth, advancing by 3.64% in Q2 2025 compared to 3.26% in Q2 2024 and 3.19% in Q1 2025.
Key growth drivers included agriculture (crop production), ICT (telecoms), real estate, financial services, trade, construction, and electricity.
However, its share of GDP dipped slightly to 95.95%, down from 96.49% in Q2 2024 and 96.03% in Q1 2025.
The NBS said the latest numbers highlight stronger activity across major sectors, particularly oil and industry, reinforcing Nigeria’s upward growth trajectory.
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2025-09-22