Nigeria’s economy expanded by 4.23% year-on-year in the second quarter of 2025, according to the latest GDP report released by the National Bureau of Statistics (NBS) on Monday.
The growth marks a notable improvement compared to 3.48% recorded in Q2 2024 and 3.13% in Q1 2025, signaling stronger economic performance supported by the recent GDP rebasing, higher oil production, and a resilient non-oil sector.
“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. Gross Domestic Product grew by 4.23% (year-on-year) in real terms in the second quarter of 2025,” the NBS explained.
The report showed that agriculture posted a growth of 2.82% in Q2 2025, up from 2.60% in the same period last year. The industry sector recorded the strongest performance, growing 7.45% compared to 3.72% in Q2 2024, while services rose 3.94%, slightly higher than 3.83% in the corresponding quarter of 2024.
In terms of GDP contribution, industry accounted for 17.31% of output in Q2 2025, an increase from 16.79% in Q2 2024.
The NBS added that Nigeria’s aggregate GDP at basic prices stood at ₦100.73 trillion in nominal terms for the period, up from ₦84.48 trillion in Q2 2024, representing a 19.23% year-on-year nominal growth.
