By Peace Udugba
Nigeria’s economy has shown significant growth, with the Gross Domestic Product (GDP) increasing by 4.23% in the second quarter of 2025. This growth rate surpasses the 3.48% recorded in Q2 2024 and the 3.13% recorded in Q1 2025. According to the National Bureau of Statistics (NBS), this upward trend validates the effectiveness of President Bola Tinubu’s economic reforms.
Non-oil sector: Contributed 95.95% to the GDP, growing by 3.64% in Q2 2025, driven by agriculture, industries, and services.
Industry sector: Grew by 7.45%, with notable gains in oil production and industrial output.
Services sector: inRecorded a growth of 3.94%, with significant contributions from telecommunications, real estate, and financial institutions.
Agriculture: Expanded by 2.82%, up from 2.60% in Q2 2024, highlighting the sector’s resilience.
Aggregate GDP: N100.73 trillion in nominal terms, representing a 19.23% year-on-year growth.
– Oil sector: Grew by 6.01% in Q2 2025, with average daily oil production reaching 1.68 million barrels per day.
The NBS’s latest report suggests that Nigeria’s economy is on a recovery path, driven by stronger activity across key sectors. With the current growth momentum, it’s likely that Q3 will deliver even stronger performance.
Nigeria’s GDP Growth Hits 4.23% in Q2 2025, Outperforming Previous Quarters
