Nigeria’s real Gross Domestic Product (GDP) grew by 4.23% year-on-year in the second quarter of 2025, according to the National Bureau of Statistics (NBS) Q2 2025 GDP report.
The figure marks a notable improvement from the 3.48% growth recorded in Q2 2024 and the 3.13% growth in Q1 2025.
The Telegraph highlights that this growth reflects a strengthening economy, supported by recent GDP rebasing, a rebound in oil production, and resilience in the non-oil sectors.
The NBS report explains, “Following the rebasing of GDP using 2019 as the base year, previous quarterly estimates were benchmarked to align with the new series, providing updated quarterly GDP data for comparison.”
In real terms, GDP expanded by 4.23% in Q2 2025, outperforming the 3.48% growth of the same quarter in 2024. Sector-wise, agriculture grew by 2.82%, up from 2.60% in Q2 2024.
The industry sector showed significant acceleration, expanding by 7.45% compared to 3.72% in Q2 2024, while the services sector grew modestly by 3.94%, slightly higher than 3.83% in the previous year.
In terms of contribution to GDP, the industry sector accounted for 17.31% in Q2 2025, up from 16.79% in Q2 2024.
Nominal GDP at basic prices stood at ₦100.73 trillion in Q2 2025, a 19.23% increase from ₦84.48 trillion recorded in the same period last year.
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