Nigeria’s economy grew by 4.23 per cent in the second quarter of 2025, according to the latest data released by the National Bureau of Statistics (NBS) on Monday.
The NBS report showed that the country’s Gross Domestic Product (GDP), measured in real terms, recorded higher growth compared to the 3.48 per cent posted in the corresponding quarter of 2024.
Sectoral performance indicated broad-based improvements.
Agriculture expanded by 2.82 per cent, up from 2.60 per cent in Q2 2024. The industry sector posted a strong 7.45 per cent growth, more than doubling the 3.72 per cent recorded in the same period last year. Services also improved slightly, rising by 3.94 per cent compared to 3.83 per cent in Q2 2024.
The report further revealed that industry contributed more to the GDP in the quarter under review, accounting for 17.31 per cent of total output compared to 16.79 per cent in the corresponding quarter of 2024.
In nominal terms, aggregate GDP at basic prices stood at ₦100.73 trillion in Q2 2025, significantly higher than the ₦84.48 trillion recorded in the second quarter of 2024. This represents a year-on-year nominal growth of 19.23 per cent.
The figures were released following the rebasing of the GDP using 2019 as the new base year.
