According to the National Bureau of Statistics (NBS), Nigeria’s Gross Domestic Product (GDP) increased by 4.23% year-on-year in the second quarter of 2025, as outlined in a report released on Monday. This marks an improvement from the 3.48% growth recorded in Q2 2024.
The agriculture sector grew by 2.82%, up from 2.60% in Q2 2024, while the industry sector saw significant growth of 7.45%, compared to 3.72% in the same period last year. The services sector recorded a growth of 3.94%, slightly higher than the 3.83% in Q2 2024.
The industry sector’s contribution to GDP rose to 17.31% in Q2 2025 from 16.79% in Q2 2024. In nominal terms, aggregate GDP reached N100.73 trillion, reflecting a 19.23% year-on-year increase from N84.48 trillion in Q2 2024.
Oil production averaged 1.68 million barrels per day (mbpd) in Q2 2025, up by 0.27 mbpd from 1.41 mbpd in Q2 2024 and 0.06 mbpd higher than Q1 2025’s 1.62 mbpd. The oil sector’s real growth surged to 20.46% year-on-year, a 10.38 percentage point increase from 10.08% in Q2 2024 and an 18.59 percentage point rise from 1.87% in Q1 2025. It contributed 4.05% to real GDP in Q2 2025, up from 3.51% in Q2 2024 and 3.97% in Q1 2025.
The non-oil sector grew by 3.64% in real terms, surpassing the 3.26% in Q2 2024 and 3.19% in Q1 2025. Key drivers included agriculture (crop production), telecommunications, real estate, financial institutions, trade, construction, and electricity, gas, steam, and air conditioning supply. However, its contribution to GDP slightly declined to 95.95% in Q2 2025 from 96.49% in Q2 2024 and 96.03% in Q1 2025.
