Shiktra Shalangwa, Lagos
The National Bureau of Statistics (NBS) has reported that Nigeria’s Gross Domestic Product (GDP) grew by 4.23% year-on-year in real terms in the second quarter of 2025, an improvement on the 3.48% growth recorded in the same period of 2024.
According to the Q2 2025 GDP report, agriculture expanded by 2.82%, up from 2.60% in Q2 2024. The industry sector grew by 7.45%, compared to 3.72% in the corresponding period last year, while the services sector posted growth of 3.94%, slightly higher than the 3.83% recorded in Q2 2024.
In terms of contribution to the economy, the industry sector accounted for 17.31% of aggregate GDP in Q2 2025, compared with 16.79% in the same quarter of 2024.
Aggregate GDP at basic prices in nominal terms stood at ₦100.73 trillion in Q2 2025, higher than the ₦84.48 trillion recorded in Q2 2024, representing a year-on-year nominal growth of 19.23%.
On oil sector performance, Nigeria recorded an average daily crude oil production of 1.68 million barrels per day (mbpd) in Q2 2025.
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This was higher than both the 1.41 mbpd recorded in Q2 2024 and the 1.62 mbpd recorded in Q1 2025.
The oil sector posted real growth of 20.46% year-on-year in Q2 2025, compared with 10.08% in Q2 2024. It also marked a sharp increase from the 1.87% growth recorded in Q1 2025.
On a quarter-on-quarter basis, the oil sector grew by 6.01%. Overall, the oil sector contributed 4.05% to total real GDP in Q2 2025, up from 3.51% in Q2 2024 and 3.97% in Q1 2025.
Meanwhile, the non-oil sector grew by 3.64% in real terms in Q2 2025, compared with 3.26% in Q2 2024 and 3.19% in Q1 2025.
Growth in this sector was driven mainly by crop production, telecommunications, real estate, financial institutions, trade, construction, and electricity, gas, steam and air-conditioning supply.
In real terms, the non-oil sector contributed 95.95% of total GDP in Q2 2025, lower than the 96.49% recorded in Q2 2024 and the 96.03% recorded in Q1 2025.