Nigeria’s Economy Grows 4.23% in Q2 of 2025

By Adedapo Adesanya

Nigeria’s economy grew by 4.23 per cent in the second quarter of 2025 compared with the 3.13 per cent growth it recorded in the first quarter, according to the latest Gross Domestic Product (GDP) data released by the National Bureau of Statistics (NBS).

The report showed that real GDP during the three-month period stood at N51.20 trillion, while nominal GDP was estimated at N100.73 trillion. This marks a continued improvement in the country’s economic performance following a series of modest growth figures in 2024.

The oil sector contributed 4.05 per cent to GDP in Q2 of 2025, slightly higher than the 3.97 per cent contribution recorded in the previous quarter.

Average daily oil production stood at 1.68 million barrels per day, a growth of 3.7 per cent from 1.62 million barrels per day in the first quarter of 2025.

The steady rise in output oil comes after production has been affected by theft, pipeline sabotage, and underinvestment in recent times, leaving Africa’s top producer pumping well below its quota by the Organisation of the Petroleum Exporting Countries (OPEC). However, recent improvements has seen the country meet the target.

Meanwhile, the non-oil sector maintained its dominance with a 95.95 per cent contribution, underscoring the country’s growing reliance on agriculture, industries, and services to drive growth.

The stronger performance of the non-oil sector, especially services, remains a critical driver of resilience, signaling opportunities for diversification and sustainable development.

The services sector accounted for the largest share of real GDP at 56.53 per cent, followed by agriculture with 26.17 per cent, and industries with 17.31 per cent . The data also shows that services maintained a consistent edge in quarterly contributions throughout 2024 and into the first half of 2025.

The stats office figures indicate a steady upward trajectory for the Nigerian economy, with quarterly growth improving from 2.27 per cent in Q1 2024 to 4.23 per cent in Q2 2025. On a yearly basis, GDP growth stood at 3.38 per cent in 2024, following 3.04 per cent in 2023 and 4.32 per cent in 2022.