Nigeria’s economy expanded by 4.23 percent in the second quarter of 2025, according to new data released by the National Bureau of Statistics (NBS).
The growth reflects the recently rebased national accounts, which now use 2019 as the base year, bringing quarterly estimates in line with the revised annual series.
The Q2 performance marked an improvement on multiple fronts. It was 1.1 percentage points higher than the 3.13 percent recorded in Q1 2025 and stronger than the 3.48 percent posted in Q2 2024, underscoring a positive trajectory in output.
Sectoral contributions showed that Industry led growth with a 7.45 percent expansion, more than double the 3.72 percent recorded in the same quarter of 2024.
Agriculture followed with a 2.82 percent rise, slightly above the 2.60 percent growth seen a year earlier. Services maintained steady performance, growing by 3.94 percent compared with 3.83 percent in Q2 2024.
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In terms of structure, Services remained the dominant sector, contributing 55.43 percent of GDP. Agriculture accounted for 23.21 percent, while Industry’s share rose to 17.31 percent from 16.79 percent a year earlier.
The oil sector contributed 4.05 percent to GDP, reflecting ongoing challenges in crude output and global price shifts.
The non-oil sector retained its dominance at 95.95 percent, further highlighting the growing importance of non-oil activities in sustaining economic growth.
Analysts note that the stronger industrial performance was driven by improvements in manufacturing, solid minerals, and construction, supported by increased domestic demand and the naira’s depreciation, which has made Nigerian goods more competitive abroad.
However, they warn that persistent infrastructure gaps, high inflation, and energy supply constraints continue to pose risks to sustained growth.
The NBS report emphasized that the rebasing exercise was necessary to capture evolving dynamics in the Nigerian economy, particularly in emerging industries and services, ensuring that official data more accurately reflects the country’s productive base.
