Steady Year-on-Year Growth
Nigeria’s Gross Domestic Product (GDP), grew by 3.98 per cent (year-on-year), in real terms in the third quarter of 2025 — slightly higher than the 3.86 per cent recorded in Q3 2024. The latest GDP report released by the National Bureau of Statistics (NBS), highlights continued economic resilience despite softening global and domestic conditions.
Quarter-on-Quarter Moderation
On a quarter-on-quarter basis, GDP growth eased from 4.23 per cent in Q2 2025 to 3.98 per cent in Q3.
Real GDP climbed to N57.03 trillion, up from N54.85 trillion a year earlier, while nominal GDP surged by 18.12 per cent to N113.59 trillion, reflecting higher prices and ongoing expansion across several industries.
Services Sector Leads Economic Activity
The services sector retained its position as the economy’s engine room, contributing 53.02 per cent of total output.
Agriculture followed with 31.21 per cent, supported by strong crop production. Key bright spots within services included:
-
ICT
-
Financial services
-
Real estate
-
Trade
These sectors continued to fuel our national transition toward a more service-oriented economic structure.
Non-Oil Sector Remains the Growth Anchor
The non-oil sector expanded by 3.91 per cent, outperforming its growth rates in both Q3 2024 and Q2 2025.
ICT grew by 5.78 per cent, lifting its GDP share to 9.10 per cent, while trade expanded by 1.98 per cent, pointing to rising market activity and consumer demand.
Oil Sector Shows Modest Recovery
The oil sector posted a slight improvement, recording 5.84 per cent growth year-on-year. This was supported by an increase in crude oil output to 1.64 million barrels per day, up from 1.47 million barrels per day in the same quarter last year.
Despite this improvement, oil contributed just 3.44 per cent to GDP and experienced a minor quarter-on-quarter dip, signalling Nigeria’s continued shift away from oil dependence.
Mixed Performance Across Industries
Sectoral performance varied:
-
Manufacturing: Slowed to 1.25 per cent
-
Construction: Expanded by 5.57 per cent
-
Real Estate: Grew 3.50 per cent in real terms and surged 89 per cent nominally
-
Education: Up 2.51 per cent
-
Health: Increased 2.89 per cent
These figures reflect uneven but broad-based growth across the economy.
NBS: Growth Driven by Improved Data and Sectoral Strength
Statistician-General, Prince Adeyemi Adeniran noted that the Q3 2025 growth reflects improved data quality and strong performance across multiple sectors, reaffirming the positive trajectory of the Nigerian economy.
