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The National Bureau of Statistics (NBS) has announced that Nigeria’s economy recorded a growth rate of 4.23% in the second quarter of 2025. This was disclosed in a report published on the NBS website on Monday.
According to the report, the figure reflects an improvement compared to the 3.48% recorded in the second quarter of 2024 and the 3.13% growth reported in the first quarter of 2025.
The non-oil sector was the primary driver of the growth, contributing 95.95% to the total Gross Domestic Product (GDP). It expanded by 3.64% in Q2 2025, indicating that sectors such as agriculture, industry, and services are becoming increasingly central to the country’s economic development.
An analysis of sectoral performance showed that the services sector accounted for 56.53% of the GDP, recording a growth of 3.94%. The agriculture sector contributed 26.17% to GDP with a growth of 2.82%, while the industrial sector made up 17.31% of GDP, registering a notable growth rate of 7.45%.
The report states, "Following the rebasing of the Gross Domestic Product using 2019 as the base year, previous quarterly GDP estimates were benchmarked to the rebased annual estimates to align the old series with the new rebased estimates." "This procedure provided a new quarterly GDP series, which is compared to the 2025 second quarter estimates. Gross Domestic Product grew by 4.23% (year-on-year) in real terms in the second quarter of 2025."
"This growth rate is higher than the 3.48 percent recorded in the second quarter of 2024. During the quarter under review, agriculture grew by 2.82%, an improvement from the 2.60% recorded in the corresponding quarter of 2024."
The NBS also stated, "The growth of the industry sector stood at 7.45% from 3.72% recorded in the second quarter of 2024, while the services sector recorded a growth of 3.94% from 3.83% in the same quarter of 2024."
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