Nigeria’s economy expanded by 4.23% year-on-year in the second quarter of 2025, according to data from the National Bureau of Statistics (NBS).
This represents a notable improvement from the 3.13% growth in Q1 2025 and 3.48% recorded in the same period in 2024. Analysts attribute the growth to a rebound in oil production, a resilient non-oil sector, and updated GDP data that reflects structural changes in the economy.
The services sector grew by 3.94%, slightly above the 3.83% recorded in Q2 2024, while the industry sector surged by 7.45%, compared with 3.72% a year earlier. Agriculture also posted positive growth, rising by 2.82% from 2.60% in Q2 2024.
In nominal terms, Nigeria’s GDP reached ₦100.73 trillion, up from ₦84.48 trillion in Q2 2024, reflecting a year-on-year nominal increase of 19.23%. The oil sector contributed 4.05% to GDP, supported by an average daily production of 1.68 million barrels, up from 1.62 million barrels per day in Q1 2025.
The positive economic performance aligns with President Bola Tinubu’s goal of achieving a 7% annual growth by 2027. Government reforms, particularly in infrastructure and investment promotion, are expected to sustain growth in the coming quarters.
