Nigeria’s Gross Domestic Product (GDP) has seen a notable growth of 4.23% year-on-year in the second quarter of 2025, as revealed by the National Bureau of Statistics (NBS). This marks a significant improvement from 3.48% recorded in the same period last year, and a positive trend compared to the 3.13% recorded in the first quarter of 2025.
The NBS attributes this growth to a combination of factors, including a rebased GDP using 2019 as the base year, a resurgence in oil production, and a resilient non-oil sector. The report further states that, “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, aligning the old series with the new ones.”
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The agricultural sector experienced a growth of 2.82%, showing an improvement from the 2.60% growth in the second quarter of 2024.
The industry sector saw a substantial growth of 7.45%, up from 3.72% in the same quarter last year. Meanwhile, the services sector grew by 3.94%, slightly better than the 3.83% recorded in Q2 2024.
In terms of sectoral contributions, the industry sector contributed 17.31% to the overall GDP, up from 16.79% in the corresponding quarter of the previous year. The nominal GDP for the second quarter of 2025 stood at N100,730,501.10 million, showing a significant year-on-year nominal growth of 19.23% from N84,484,878.46 million in Q2 2024.
