Nigeria’s non-oil economic system, lengthy thought to be the anchor of progress, noticed its dominance barely eroded within the second quarter of 2025 as oil output rebounded strongly.
Based on the newest Gross Home Product report for the second quarter of 2025 launched by the Nationwide Bureau of Statistics (NBS), the non-oil sector accounted for 95.95% of actual GDP in Q2 2025, down from 96.49% in the identical interval of 2024 and 96.03% in Q1 2025.
The report learn, “In actual phrases, the non-oil sector contributed 95.95% to the nation’s GDP within the second quarter of 2025, decrease than the share recorded within the second quarter of 2024, which was 96.49% and decrease than the primary quarter of 2025 recorded as 96.03%.”
Whereas the change seems marginal, it’s vital within the context of Nigeria’s progress construction.
The oil sector’s share rose as crude manufacturing improved, displaying how oil efficiency can nonetheless shift the steadiness of the economic system regardless of years of diversification efforts.
Oil sector rebounds sharply
Common every day crude oil manufacturing climbed to 1.68 million barrels per day in Q2 2025, up from 1.41 mbpd in Q2 2024 and 1.62 mbpd in Q1 2025.
This pushed the oil sector’s actual GDP progress to twenty.46% year-on-year, in contrast with simply 1.87% within the earlier quarter. Consequently, oil’s share of GDP rose to 4.05%, up from 3.51% a 12 months earlier.
The NBS famous, “The nation within the second quarter of 2025 recorded a mean every day oil manufacturing of 1.68 million barrels per day (mbpd), increased than the every day common manufacturing of 1.41 mbpd recorded in the identical quarter of 2024 by 0.27 mbpd and better than the primary quarter of 2025 manufacturing quantity of 1.62 mbpd by 0.06mbpd.
“The true progress of the oil sector was 20.46 (year-on-year) in Q2 2025, indicating a rise of 10.38% factors relative to the speed recorded within the corresponding quarter of 2024 (10.08%). Development elevated by 18.59% factors when in comparison with Q1 2025, which was 1.87%. On a quarter-on-quarter foundation, the oil sector recorded a progress price of 6.01% in Q2 2025.
“The Oil sector contributed 4.05% to the entire actual GDP in Q2 2025, up from the determine recorded within the corresponding interval of 2024 at 3.51%. and up from the previous quarter, the place it contributed 3.97%.”
Non-oil sector nonetheless dominant
The non-oil sector expanded by 3.64% in Q2 2025, sooner than the three.26% progress in Q2 2024 and the three.19% recorded in Q1 2025. However as a result of the oil sector grew a lot sooner, the non-oil share of GDP declined.
The NBS report learn, “The non-oil sector grew by 3.64% in actual phrases throughout the reference quarter (Q2 2025). This price was increased by 0.38% factors in comparison with the speed recorded in the identical quarter of 2024, which was 3.26% and better than the three.19% recorded within the first quarter of 2025.
“This sector was pushed within the second quarter of 2025 primarily by Agriculture (Crop manufacturing); Data and Communication (Telecommunications); Actual Property; Monetary and Insurance coverage (Monetary Establishments); Commerce; Development; and Electrical energy, Fuel, Steam & Air Conditioning Provide, accounting for constructive GDP progress.”
Agriculture grew by 2.82% year-on-year, with crop manufacturing remaining the principle driver. Its contribution to GDP was 26.17%, barely under 26.53% a 12 months earlier.
The providers sector, which makes up the majority of non-oil output, grew by 3.94%. Commerce, the only largest providers subsector, contributed 18.28% to GDP however was down from 18.81% in Q2 2024. Data and communication grew by 6.61%, lifting its share to 11.18% from 10.93% a 12 months earlier. Finance and insurance coverage expanded by 16.13% and accounted for 3.23% of GDP, up from 2.89%.
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