Nigeria’s GDP Grows by 4.23% in Q2 2025 – NBS

Nigeria’s economy recorded a stronger performance in the second quarter of 2025, with real Gross Domestic Product (GDP) growing by 4.23% year-on-year, according to the latest GDP Report released by the National Bureau of Statistics (NBS) on Monday.

The new growth figure marks a significant improvement compared to 3.48% in Q2 2024 and 3.13% in Q1 2025, signaling a strengthening economy driven by a rebound in oil production, robust non-oil activity, and the recent rebasing of the GDP series.

The NBS explained that following the rebasing of GDP using 2019 as the new base year, previous quarterly estimates were aligned with the rebased annual figures to provide a fresh quarterly GDP series.

According to the NBS, Agriculture grew by 2.82%, up from 2.60% in Q2 2024, Industry expanded by 7.45%, a sharp rise from 3.72% in the same quarter of 2024, and Services posted 3.94% growth, compared to 3.83% a year earlier.

In terms of contribution, the Industry sector accounted for 17.31% of aggregate GDP, higher than 16.79% in Q2 2024.

On a nominal basis, aggregate GDP stood at N100.73 trillion, compared to N84.48 trillion in Q2 2024, representing a year-on-year nominal growth of 19.23%.

Analysts say the positive growth trend could ease investor concerns over Nigeria’s fiscal outlook while boosting confidence in ongoing economic reforms.