Nigeria’s real Gross Domestic Product (GDP) grew by 4.23% year-on-year in the second quarter of 2025, according to the latest GDP Report released by the National Bureau of Statistics (NBS) on Monday.
The new figure reflects a stronger economic performance compared to 3.48% growth recorded in Q2 2024 and 3.13% in Q1 2025, signaling steady recovery supported by the recent GDP rebasing, a rebound in oil output, and sustained resilience in the non-oil sector.
“Following the rebasing of the Gross Domestic Product using 2019 as the base year, previous quarterly GDP estimates were benchmarked to align with the new rebased series,” the NBS explained in the report. Agriculture grew by 2.82%, up from 2.60% in the corresponding period of 2024. Industry recorded the strongest improvement, expanding by 7.45%, compared to 3.72% in Q2 2024. Services rose by 3.94%, slightly higher than the 3.83% posted a year earlier.
In terms of contribution to GDP, the Industry sector accounted for 17.31% of the economy in Q2 2025, up from 16.79% in the same quarter of 2024.
The NBS also reported that aggregate GDP at current basic prices stood at ₦100.73 trillion in Q2 2025, compared with ₦84.48 trillion in Q2 2024. This represents a 19.23% year-on-year nominal growth rate.
The bureau noted that the improved performance underscores a positive trajectory for the economy, though challenges remain in sustaining growth momentum.
