Nigeria’s Gross Home Product (GDP) grew by 4.23 per cent year-on-year in actual phrases within the second quarter of 2025, the Nationwide Bureau of Statistics (NBS) has mentioned.
The NBS mentioned this development charge is larger than the three.48 per cent recorded within the second quarter of 2024.
The statistics bureau mentioned this in its “Nigerian Gross Home Product (GDP) Report Q2 2025” launched on Monday.
In the course of the quarter beneath evaluation, the statistics workplace mentioned agriculture grew by 2.82 per cent, an enchancment from the two.60 per cent recorded within the corresponding quarter of 2024.
It defined that the expansion of the trade sector stood at 7.45 per cent from 3.72 per cent recorded within the second quarter of 2024, whereas the providers sector recorded a development of three.94 per cent from 3.83 per cent in the identical quarter of 2024.
By way of share of the GDP, the bureau mentioned the trade sector contributed extra to the mixture GDP within the second quarter of 2025 at 17.31 per cent in comparison with the corresponding quarter of 2024 at 16.79 per cent.
“Within the quarter beneath evaluation, combination GDP at primary worth stood at N100,730,501.10 million in nominal phrases. This efficiency is larger when in comparison with the second quarter of 2024, which recorded an combination GDP of N84,484,878.46 million, indicating a year-on-year nominal development of 19.23 per cent,” the NBS mentioned.
Oil sector
The bureau famous that the nation within the second quarter of 2025 recorded a median each day oil manufacturing of 1.68 million barrels per day (mbpd), larger than the each day common manufacturing of 1.41 mbpd recorded in the identical quarter of 2024 by 0.27 mbpd and better than the primary quarter of 2025 manufacturing quantity of 1.62 mbpd by 0.06mbpd.
It mentioned the true development of the oil sector was 20.46 (year-on-year) in Q2 2025, indicating a rise of 10.38 proportion factors relative to the speed recorded within the corresponding quarter of 2024 (10.08 proportion factors).
In accordance with the NBS, development elevated by 18.59 proportion factors in comparison with Q1 2025, which was 1.87 proportion factors.
“On a quarter-on-quarter foundation, the oil sector recorded a development charge of 6.01 per cent in Q2 2025. The oil sector contributed 4.05 per cent to the whole actual GDP in Q2 2025, up from the determine recorded within the corresponding interval of 2024 at 3.51 per cent. and up from the previous quarter, the place it contributed 3.97 per cent,” it mentioned.
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Non-oil sector
The non-oil sector grew by 3.64 per cent in actual phrases through the reference quarter (Q2 2025).
The NBS mentioned this charge was larger by 0.38 proportion factors in comparison with the speed recorded in the identical quarter of 2024, which was 3.26 per cent and better than the three.19 per cent recorded within the first quarter of 2025.
“This sector was pushed within the second quarter of 2025 primarily by agriculture (crop manufacturing); data and communication (telecommunications); actual property; monetary and insurance coverage (monetary establishments); commerce; development; and electrical energy, fuel, steam & air-con provide, accounting for optimistic GDP development.”
In actual phrases, the bureau mentioned the non-oil sector contributed 95.95 per cent to the nation’s GDP within the second quarter of 2025, decrease than the share recorded within the second quarter of 2024, which was 96.49 per cent and decrease than the primary quarter of 2025, which was 96.03 per cent.
