The National Bureau of Statistics (NBS) has confirmed that Nigeria’s economy expanded by 4.23 percent year-on-year in the second quarter of 2025, signaling one of the country’s strongest growth performances in recent times.
The official GDP report, released on Monday, showed clear improvement when compared with 3.48 percent growth in Q2 2024 and 3.13 percent in Q1 2025. Analysts interpret this as evidence of an economy benefiting from policy shifts, oil sector recovery, and non-oil resilience.
According to the statistical office, “Following the rebasing of the Gross Domestic Product using 2019 as the base year, previous quarterly GDP estimates were benchmarked to the rebased annual estimates to align the old series with the new rebased estimates. This procedure provided a new quarterly GDP series, which is compared to the 2025 second quarter estimates. Gross Domestic Product grew by 4.23% (year-on-year) in real terms in the second quarter of 2025.”
Sector-by-sector data highlights significant momentum in industry, which recorded 7.45 percent growth, compared to just 3.72 percent in Q2 2024. Agriculture also posted stronger results with 2.82 percent growth, up from 2.60 percent in the corresponding quarter of last year. The services sector advanced at 3.94 percent, narrowly surpassing its 3.83 percent growth in Q2 2024.
The industrial sector’s weight in the economy climbed to 17.31 percent, an improvement from 16.79 percent last year, while overall nominal GDP hit N100.73 trillion, representing a 19.23 percent rise over the N84.48 trillion reported in Q2 2024.
Experts believe this consistent pattern of expansion could bolster Nigeria’s investment attractiveness in global markets and sustain the momentum for stronger macroeconomic performance by year-end.
0 Comments