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Nigeria’s GDP rate grows by 4.23% in Q2 2025
This was contained in a report released by the Bureau on Monday.
The NBS said this growth rate is higher than the 3.48 per cent recorded in the second quarter of 2024.
During the quarter under review, the statistics office said agriculture grew by 2.82 per cent, an improvement from the 2.60 per cent recorded in the corresponding quarter of 2024.
It explained that the growth of the industry sector stood at 7.45 per cent from 3.72 per cent recorded in the second quarter of 2024, while the services sector recorded a growth of 3.94 per cent from 3.83 per cent in the same quarter of 2024.
In terms of share of the GDP, the bureau said the industry sector contributed more to the aggregate GDP in the second quarter of 2025 at 17.31 per cent compared to the corresponding quarter of 2024 at 16.79 per cent.
“In the quarter under review, aggregate GDP at basic price stood at N100,730,501.10 million in nominal terms. This performance is higher when compared to the second quarter of 2024, which recorded an aggregate GDP of N84,484,878.46 million, indicating a year-on-year nominal growth of 19.23 per cent,” the NBS said.
The bureau noted that the nation in the second quarter of 2025 recorded an average daily oil production of 1.68 million barrels per day (mbpd), higher than the daily average production of 1.41 mbpd recorded in the same quarter of 2024 by 0.27 mbpd and higher than the first quarter of 2025 production volume of 1.62 mbpd by 0.06mbpd.
It said the real growth of the oil sector was 20.46 (year-on-year) in Q2 2025, indicating an increase of 10.38 percentage points relative to the rate recorded in the corresponding quarter of 2024 (10.08 percentage points).
According to the NBS, growth increased by 18.59 percentage points compared to Q1 2025, which was 1.87 percentage points.
“On a quarter-on-quarter basis, the oil sector recorded a growth rate of 6.01 per cent in Q2 2025. The oil sector contributed 4.05 per cent to the total real GDP in Q2 2025, up from the figure recorded in the corresponding period of 2024 at 3.51 per cent. and up from the preceding quarter, where it contributed 3.97 per cent,” it said.
The non-oil sector grew by 3.64 per cent in real terms during the reference quarter (Q2 2025).
The NBS said this rate was higher by 0.38 percentage points compared to the rate recorded in the same quarter of 2024, which was 3.26 per cent and higher than the 3.19 per cent recorded in the first quarter of 2025.
“This sector was driven in the second quarter of 2025 mainly by agriculture (crop production); information and communication (telecommunications); real estate; financial and insurance (financial institutions); trade; construction; and electricity, gas, steam & air conditioning supply, accounting for positive GDP growth.”
In real terms, the bureau said the non-oil sector contributed 95.95 per cent to the nation’s GDP in the second quarter of 2025, lower than the share recorded in the second quarter of 2024, which was 96.49 per cent and lower than the first quarter of 2025, which was 96.03 per cent.
