Nigeria’s GDP Grows By 4.23%
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Nigeria’s Gross Domestic Product (GDP) grew by 4.23% (year-on-year) in real terms in the second quarter of 2025.
This was disclosed by the National Bureau of Statistics (NBS) in figures released on Monday, 22nd September.
According to the NBS, the growth rate is higher than the 3.48% recorded in the second quarter of 2024 and the 3.13% recorded in Q1 2025.
Naija News reports that during the quarter under review, agriculture grew by 2.82%, an improvement from the 2.60% recorded in the corresponding quarter of 2024.
The growth of the industry sector stood at 7.45% from 3.72% recorded in the second quarter of 2024, while the Services sector recorded a growth of 3.94% from 3.83% in the same quarter of 2024.
“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 to align the old series with the new rebased estimates.
“This procedure provided a new quarterly GDP series, which is compared to the 2025 second quarter estimates. Gross Domestic Product (GDP) grew by 4.23% (year-on-year) in real terms in the second quarter of 2025.
“This growth rate is higher than the 3.48% recorded in the second quarter of 2024. During the quarter under review, agriculture grew by 2.82%, an improvement
from the 2.60% recorded in the corresponding quarter of 2024.
“The growth of the industry sector stood at 7.45% from 3.72% recorded in the second quarter of 2024, while the Services sector recorded a growth of 3.94% from 3.83% in the same quarter of 2024.
“In terms of share of the GDP, the Industry sector contributed more to the aggregate GDP in the second quarter of 2025 at 17.31% compared to the corresponding quarter of 2024 at 16.79%.
“In the quarter under review, aggregate GDP at basic price stood at N100,730,501.10 million in nominal terms. This performance is higher when compared to the second quarter of 2024, which recorded an aggregate GDP of N84,484,878.46 million, indicating a year-on-year nominal growth of 19.23%,” the NBS disclosed.
