The National Bureau of Statistics (NBS) says Nigeria’s Gross Domestic Product (GDP) rate in real terms grew by 4.23 per cent in the second quarter of 2025 on a year-on-year basis.
The NBS said this in the Nigerian Gross Domestic Product Report Q2 2025 released on Monday, September 22.
The bureau said the growth rate was higher than the 3.48 per cent recorded in the second quarter of 2024.
It stated that it was higher than the 3.13 per cent recorded in the first quarter of 2025.
According to the NBS, the agriculture sector grew by 2.82 per cent in the second quarter of 2025, an increase from the 2.60 per cent recorded in the second quarter of 2024.
The bureau noted that the industry sector witnessed a growth rate of 7.45 per cent, an improvement from the 3.72 per cent recorded in the second quarter of 2024.
The NBS disclosed that the services sector recorded a 3.94 per cent increase in growth rate compared to the 3.83 per cent recorded in Q2 2024.
“In terms of share of the GDP, the Industry sector contributed more to the aggregate GDP in Q2 2025 at 17.31 per cent compared to the 16.79 per cent recorded in Q2 2024,” it said.
The NBS noted that in the second quarter of 2025, aggregate GDP at basic price stood at N100.73 trillion in nominal terms.
Report: How Trump’s aide accepted $50,000 bribe from FBI agent
“This performance is higher when compared to the second quarter of 2024 which recorded aggregate GDP of N84.48 trillion, indicating a year-on-year nominal growth of 19.23 per cent,” the bureau added.
The NBS said the oil sector witnessed a growth rate of 6.01 per cent in Q2 2025 on a quarter-on-quarter basis.
It revealed that the oil sector contributed 4.05 per cent of the total real GDP in Q2 2025, an increase from the 3.51 per cent recorded in Q2 2024 and 3.97 per cent in Q1 2025.
The bureau said Q2 2025 recorded an average daily oil production of 1.68 million barrels per day (mbpd), higher than the daily average production of 1.41 mbpd recorded in Q2 2024 by 0.27 mbpd.
“Similarly, the production volume for Q2 2025 was higher than Q1 2025, which recorded 1.62 mbpd by 0.06 mbpd,” it added.
The NBS said the non-oil sector contributed 95.95 per cent to the GDP in Q2 2025 in real terms.
“This shows a decrease from the contribution recorded in Q2 2024 at 96.49 per cent and Q1 2025 at 96.03 per cent,” it said.
Motorists and commuters across Lagos are facing rising transportation costs following another increase in the…
The Oyo State Government has launched a new initiative aimed at tackling open defecation through…
Governor Uba Sani is poised to surpass his own infrastructure milestone once the 36-kilometre Bagoma–Gagumi…
Meta is planning sweeping layoffs that could affect 20% or more of the company, three…
United States President Donald Trump has rebuffed efforts by Middle Eastern allies to start diplomatic…
A 74-year-old man, Ikwuakalom Nwakoro Emeka, has been arrested by the operatives of the National…
This website uses cookies.