Nigeria’s GDP Grows By 4.23% In Q2 2025
THECONSCIENCE NG reports that the National Bureau of Statistics (NBS) has revealed that Nigeria’s economy grew by 4.23% in the second quarter of 2025.
According to a report released on the NBS website on Monday, the growth rate is higher than the 3.48% recorded in the second quarter of 2024 and the 3.13% recorded in the first quarter of 2025.
The non-oil sector played a significant role in driving this growth, contributing 95.95% to the total GDP. This sector grew by 3.64% in Q2 2025, underscoring the country’s increasing reliance on agriculture, industries, and services to fuel economic expansion.
A breakdown of the sectoral contributions reveals that the services sector accounted for 56.53% of the overall GDP, with a growth rate of 3.94%. Agriculture contributed 26.17% to the GDP, growing by 2.82%, while industries accounted for 17.31% of the GDP with a notable growth rate of 7.45%.
The report reads, “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 per cent 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 further disclosed that “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.”
