Nigeria’s Gross Domestic Product grew by 4.23 per cent year-on-year in real terms in the second quarter of 2025, according to the National Bureau of Statistics (NBS).
This growth trajectory significantly outpaced the 3.48% recorded in the corresponding quarter of 2024, positioning Nigeria among Africa’s stronger-performing economies.
The industry sector emerged as the primary growth engine, surging 7.45% compared to 3.72% in Q2 2024.
Agriculture showed steady improvement, growing 2.82% versus 2.60% in the previous year’s quarter, while services maintained consistent momentum at 3.94% growth from 3.83%.
The industry sector’s contribution to aggregate GDP increased to 17.31% in Q2 2025 from 16.79% in the same period of 2024.
Nigeria’s aggregate GDP at basic prices reached N100.73 trillion in nominal terms during the quarter under review.
This represents a substantial increase from N84.48 trillion recorded in Q2 2024, translating to impressive year-on-year nominal growth of 19.23%.
According to the NBS, the figures reflect the new rebased 2019 benchmark year.
Oil Sector
Nigeria pumped an average of 1.68 million barrels per day in Q2 2025, up from 1.41 mbpd a year earlier and slightly higher than Q1’s 1.62 mbpd.
The sector expanded 20.46% year-on-year, compared with 10.08% in Q2 2024 and 1.87% in Q1. On a quarterly basis, growth was 6.01%. Oil contributed 4.05% to GDP, rising from 3.51% a year ago and 3.97% in Q1.
Non-Oil Sector
The non-oil economy grew 3.64% year-on-year, outpacing the 3.26% recorded in Q2 2024 and Q1’s 3.19%.
Key drivers included agriculture, telecoms, real estate, finance, trade, construction, and utilities.
The sector accounted for 95.95% of GDP, down from 96.49% a year ago and 96.03% in Q1.
Mining & Quarrying
The industry expanded 20.86% year-on-year, compared with 7.51% in Q2 2024 and 2.97% in Q1 2025. Quarter-on-quarter growth came in at 3.92%. Its GDP share rose to 4.23% from 3.64% a year earlier, broadly flat against Q1’s 4.22%.
Agriculture
Agriculture grew 2.82% year-on-year, edging up from 2.60% a year earlier and rebounding sharply from Q1’s 0.07%. Quarterly growth surged 16.40%.
The sector contributed 26.17% to GDP, down from 26.53% in Q2 2024 but up from 23.33% in Q1.
Manufacturing
The sector grew 1.60% year-on-year, slightly faster than Q2 2024 but weaker than Q1’s 1.69%. On a quarterly basis, output fell 15.81%. Manufacturing made up 7.81% of GDP, down from 8.01% a year ago and 9.62% in Q1.
Information & Communication
The sector grew 6.61% year-on-year, up from 4.38% in Q2 2024. Quarter-on-quarter, it expanded 9.58%.
Its GDP share stood at 11.18%, compared with 10.93% a year earlier and 10.59% in Q1.
Real Estate
Growth slowed to 3.79% year-on-year, down from 7.34% in Q2 2024 and 4.61% in Q1. The sector contracted 0.17% from Q1. Real estate contributed 12.80% of GDP, versus 12.85% a year earlier and 13.30% in Q1.
Finance and Insurance
The sector grew 16.13% year-on-year, up sharply from 0.30% in Q2 2024. Growth eased from 17.22% in Q1, with output falling 7.13% quarter-on-quarter. Contribution to GDP was 3.23%, compared with 2.89% a year earlier and 3.60% in Q1.
