Nigeria’s economy recorded a major rebound in 2025, with the country’s dollar-denominated Gross Domestic Product rising by 22 per cent to approximately $307bn, according to a report by Quartus Economics.
The report stated that the increase was driven by stronger economic output and a more stable naira, as nominal GDP expanded by 18.43 per cent while the local currency appreciated by about three per cent during the year.
Nigeria’s GDP reportedly grew from about $252bn in 2024 to $307.5bn in 2025, pushing the economy back above the $300bn threshold after previous declines.
According to the analysis, nominal GDP increased from N372.8tn in 2024 to N441.5tn in 2025, while the average exchange rate improved from N1,479/$ to N1,436/$, helping to boost the country’s dollar value.
The report noted that Nigeria outperformed the average growth recorded across Sub-Saharan Africa and surpassed several major African economies, including South Africa, Egypt, Algeria, Kenya, Morocco, and Angola. Ghana was the only African country reported to have achieved stronger growth during the period.
Nigeria was also said to have contributed nearly 28 per cent of Africa’s total GDP growth in dollar terms in 2025, strengthening its economic standing on the continent.
On individual income levels, the report revealed that Nigeria’s GDP per capita rose by 19.5 per cent to $1,295 in 2025 from $1,083 recorded in 2024, as economic growth exceeded population growth.
The report linked the improvements to currency stability, stronger production levels, and slower population growth compared to previous years.
It further stated that economic expansion was increasingly being supported by real sector activities, with recommendations for greater focus on industrialisation and manufacturing to sustain long-term growth.
Despite the positive performance, the report cautioned that Nigeria’s GDP and income levels remain below historical highs and still lag behind several competing economies, stressing the need for continued economic reforms and productivity growth.
