Nigeria’s Gross Domestic Product expanded by 4.23 per cent in the second quarter of 2025, according to the latest figures released by the National Bureau of Statistics.
The Q2 2025 GDP Report, published on Monday, showed a stronger economic performance compared to the 3.48 per cent growth posted in the same period last year and 3.13 per cent recorded in the first quarter of 2025.
The statistics agency attributed the growth to improved oil production, a vibrant non-oil sector, and the rebasing of the national accounts.
“The Nigerian economy maintained a steady growth path in the second quarter of 2025, with GDP rising by 4.23 per cent in real terms, year-on-year,” the report stated. “This outturn reflects the positive impact of policy reforms, sectoral resilience, and increased investment flows.”
Sectoral breakdown revealed that agriculture grew by 2.82 per cent, up from 2.60 per cent in Q2 2024. Industry recorded a significant leap, expanding by 7.45 per cent compared to 3.72 per cent in the same quarter of 2024.
The services sector also grew by 3.94 per cent against 3.83 per cent in the previous year.
According to the NBS, the industry sector’s contribution to overall GDP rose to 17.31 per cent, from 16.79 per cent in Q2 2024. In nominal terms, aggregate GDP stood at ₦100.73 trillion, representing a 19.23 per cent increase from the ₦84.48 trillion recorded in the corresponding quarter of 2024.
An Abuja-based economist, Dr. Ifeanyi Okoye, described the figures as “an encouraging signal that reforms are gradually yielding results,” but cautioned that inflationary pressures and high unemployment could undermine the gains.
Similarly, financial analyst, Fatima Hassan, noted: “The impressive growth in the industry sector is a clear indication of recovery in oil and gas. However, sustaining this momentum will depend on government’s ability to tackle insecurity and stabilize foreign exchange.”
The Q2 GDP figures, experts say, place Nigeria on a firmer footing as the government pursues its goal of achieving a $1 trillion economy in the coming years.
