Nigeria’s economy grew by 4.23 percent year-on-year in real terms in the second quarter of 2025, up from 3.48 percent recorded in the same period of 2024, the National Bureau of Statistics (NBS) has reported.

The latest Nigerian Gross Domestic Product (GDP) Report, released on Monday, attributed the growth to stronger performance in the industry and oil sectors, alongside steady contributions from services and agriculture.

According to the NBS, aggregate GDP at basic prices stood at ₦100.73 trillion in nominal terms, compared with ₦84.48 trillion in Q2 2024, reflecting a year-on-year nominal growth of 19.23 percent.

Agriculture grew by 2.82 percent in Q2 2025, slightly higher than the 2.60 percent recorded a year earlier.

Industry posted the strongest growth at 7.45 percent, more than double the 3.72 percent expansion in Q2 2024. The sector contributed 17.31 percent to GDP, up from 16.79 percent in the same quarter of 2024.

Services grew by 3.94 percent, edging up from 3.83 percent in Q2 2024.

The oil sector played a pivotal role in the improved performance. Average daily crude oil production rose to 1.68 million barrels per day (mbpd), up from 1.41 mbpd in Q2 2024 and slightly higher than 1.62 mbpd in Q1 2025.

Real growth in the oil sector stood at 20.46 percent year-on-year in Q2 2025, an increase of 10.38 percentage points compared with Q2 2024. Quarter-on-quarter, the sector grew by 6.01 percent, contributing 4.05 percent to real GDP — up from 3.51 percent in Q2 2024.
The non-oil sector, which continues to dominate Nigeria’s economy, expanded by 3.64 percent in real terms, compared with 3.26 percent in Q2 2024 and 3.19 percent in Q1 2025.

Growth in this sector was driven mainly by agriculture (particularly crop production); information and communication (telecommunications); real estate; financial and insurance services; trade; construction; and electricity, gas, steam, and air conditioning supply.

Despite the expansion, the non-oil sector’s share of GDP dipped slightly to 95.95 percent, from 96.49 percent in Q2 2024 and 96.03 percent in Q1 2025.