Nigeria’s Gross Home Product (GDP) grew by 3.98% year-on-year in actual phrases within the third quarter of 2025, edging above the three.86% recorded in the identical quarter of 2024.
That is in response to recent knowledge launched by the Nationwide Bureau of Statistics (NBS).
In its Q3 GDP report, the NBS highlighted broad-based enhancements throughout key sectors:
“Gross Home Product (GDP) grew by 3.98% (year-on-year) in actual phrases within the third quarter of 2025. This progress charge is increased than the three.86% recorded within the third quarter of 2024. Throughout the quarter beneath assessment, agriculture grew by 3.79%, an enchancment from the two.55% recorded within the corresponding quarter of 2024.
“The expansion of the Trade sector stood at 3.77% from 2.78% recorded within the third quarter of 2024, whereas the Companies sector recorded a progress of 4.15% from 4.97% in the identical quarter of 2024. When it comes to share of the GDP, the companies sector contributed extra to the mixture GDP within the third quarter of 2025 at 53.02% in comparison with the corresponding quarter of 2024 at 52.93%,” NBS acknowledged.
The Companies sector remained the economic system’s largest contributor, accounting for 53.02% of whole GDP—barely increased than the 52.93% recorded a 12 months earlier.
Mixture nominal GDP rose considerably to N113.59 trillion in Q3 2025, in comparison with N96.16 trillion in Q3 2024, representing a nominal year-on-year progress of 18.12%.
Oil sector information modest features
Nigeria recorded a median day by day oil manufacturing of 1.64 million barrels per day (mbpd) in Q3 2025, an enchancment from 1.47 mbpd in the identical interval of 2024, although barely decrease than the 1.68 mbpd produced in Q2 2025.
Actual progress within the oil sector stood at 5.84%, marginally increased than the 5.66% recorded in Q3 2024. Nevertheless, progress slowed sharply when in comparison with the 20.46% recorded within the earlier quarter, dropping by 14.62 share factors. Quarter-on-quarter, the sector contracted by 5.53%.
The oil sector contributed 3.44% to actual GDP in Q3 2025—increased than 3.38% in the identical quarter of 2024 however decrease than 4.05% in Q2 2025.
The non-oil sector
The non-oil sector grew by 3.91% in actual phrases, surpassing the three.79% progress recorded in Q3 2024 and the three.64% posted in Q2 2025. Progress was pushed by:
- Agriculture (particularly crop manufacturing)
- Telecommunications
- Actual Property
- Monetary Establishments
- Commerce
- Development
- Manufacturing
The non-oil economic system accounted for 96.56% of actual GDP—barely decrease than the 96.62% recorded in Q3 2024 however increased than 95.95% in Q2 2025.
The Mining and Quarrying sector, which incorporates crude petroleum, coal mining, metallic ores, and different minerals, contracted sharply in nominal phrases, declining by 41.08% year-on-year.
Agriculture
The agricultural sector grew by 3.18% in nominal phrases in Q3 2025, though this was 14.87 share factors decrease than Q3 2024. In comparison with the earlier quarter, progress improved by 1.34 share factors.
Crop manufacturing remained dominant, accounting for 65.99% of the sector’s whole nominal worth.
Manufacturing
Manufacturing GDP grew by 1.25% year-on-year, increased than the expansion recorded in Q3 2024. Nevertheless, the determine represents a slight decline of 0.34 share factors in comparison with Q2 2025.
What it’s best to know
In Q2 2025, NBS reported that Nigeria’s GDP grew by 4.23% year-on-year in actual phrases within the second quarter of 2025.
This marks a stronger efficiency than the three.48% recorded within the corresponding interval of 2024.
The report reveals that mixture GDP at primary costs stood at N100.73 trillion in nominal phrases, in contrast with N84.48 trillion in Q2 2024, representing a nominal progress of 19.23% year-on-year.
Be First to Comment