Nigeria’s GDP Grows by 4.23% in Q2 2025: A Closer Look

Nigeria’s GDP Grows by 4.23% in Q2 2025: A Closer Look

Nigeria’s economy has shown resilience and growth, with the National Bureau of Statistics (NBS) reporting a 4.23% year-on-year growth in the second quarter of 2025. This marks an improvement from the 3.48% growth recorded in the same quarter of 2024 and the 3.13% growth in Q1 2025 .

Agriculture: Grew by 2.82% in real terms, up from 2.60% in Q2 2024, driven by crop production.
Industry: Showed strong performance, growing by 7.45%, compared to 3.72% in Q2 2024, with notable gains in oil production and industrial output.
Services:Recorded a real growth of 3.94%, slightly up from 3.83% in Q2 2024, driven by telecommunications, real estate, and financial institutions .

Oil Sector Performance

The oil sector played a key role in driving growth, with:
– Average daily crude oil production: Rising to 1.68 million barrels per day, 0.27 million barrels higher than Q2 2024.
-Real GDP growth:20.46% in the oil sector, up significantly from 10.08% in Q2 2024.Contribution to GDP:4.05% in Q2 2025, up from 3.51% in Q2 2024 .

Non-Oil Sector Performance

The non-oil sector also recorded steady progress, growing by 3.64% in real terms, driven by:
Agriculture:Crop production.
And Information and communication.Telecommunication
Real estate: Financial institutions.
Construction:Electricity, gas, steam, and air conditioning supply.

The overall economic performance reflects stronger activity across key sectors, with notable gains in oil production and industrial output supporting the country’s growth trajectory. The NBS report provides insight into Nigeria’s macroeconomic stability and may influence future policy and investment decisions .