Nigeria’s GDP Surges 4.32% in Q2 2025 as Oil and Non-Oil Sectors Drive Growth
Nigeria’s economy has demonstrated strong resilience in the second quarter of 2025, with Gross Domestic Product (GDP) growing by 4.32% year-on-year, according to the latest data from the National Bureau of Statistics (NBS). This marks a significant improvement from the 3.48% growth recorded in Q2 2024 and the 3.13% seen in Q1 2025, signaling a steady upward trend in economic performance.
The growth was broad-based across key sectors, with agriculture rising by 2.82%, up from 2.60% in the same period last year. The industry sector saw the most notable increase, expanding by 7.45% compared to 3.72% in Q2 2024, while the services sector recorded a moderate growth of 3.94%, slightly higher than the 3.83% achieved a year earlier. Industry also accounted for a larger share of GDP at 17.31%, compared to 16.79% in Q2 2024.
In nominal terms, Nigeria’s aggregate GDP at basic prices stood at N100.73 trillion in Q2 2025, reflecting a 19.23% increase from the N84.48 trillion recorded in the corresponding quarter of 2024. Breaking the economy into oil and non-oil components, the non-oil sector grew by 3.64% in real terms, driven primarily by agriculture, telecommunications, real estate, financial services, trade, construction, and utilities. Despite this strong growth, the non-oil sector’s contribution to GDP slightly decreased to 95.95% from 96.49% in Q2 2024.
Meanwhile, the oil sector posted a remarkable 20.46% year-on-year growth in Q2 2025, a sharp rise from 10.08% in the same period last year and a significant jump from 1.87% in Q1 2025. The sector’s contribution to total GDP increased to 4.05%, up from 3.51% in Q2 2024, supported by an average daily oil production of 1.68 million barrels per day, compared to 1.41 mbpd a year ago.
Overall, the data highlights a diversified growth pattern across Nigeria’s economy, with both oil and non-oil sectors contributing to the country’s improved GDP performance. Analysts note that sustained investment in industry and strategic expansion in oil production could further strengthen the economy, offering optimism for continued growth throughout 2025.
source: leadership