Nigeria’s Gross Domestic Product (GDP) grew by 4.23% year-on-year in real terms in the second quarter of 2025, according to data released by the National Bureau of Statistics (NBS).
The growth rate exceeded the 3.48% recorded in the corresponding quarter of 2024, an indication of stronger performance in both the oil and non-oil sectors.
Aggregate GDP Performance
Aggregate GDP at basic prices stood at N100.73 trillion in nominal terms during the quarter, compared to N84.48 trillion in the second quarter of 2024. This represents a year-on-year nominal growth of 19.23%.
The NBS noted that the figures have been rebased to 2019 as the new base year, aligning previous quarterly estimates with the updated series for comparability.
Oil Sector Performance
The oil sector posted a strong rebound, recording 20.46% growth year-on-year in Q2 2025, up from 10.08% in the same quarter of 2024.
This represented a sharp increase of 18.59 percentage points compared with Q1 2025, which saw growth of just 1.87%.
Average daily crude oil production stood at 1.68 million barrels per day (mbpd), higher than the 1.41 mbpd recorded in Q2 2024 and above the 1.62 mbpd recorded in Q1 2025.
On a quarter-on-quarter basis, the oil sector grew by 6.01% with its contribution to total real GDP rising to 4.05%, compared with 3.51% in Q2 2024 and 3.97% in Q1 2025.
Non-Oil Sector Performance
The non-oil sector grew by 3.64% in real terms during Q2 2025, above the 3.26% growth recorded in Q2 2024 and the 3.19% in Q1 2025.
Growth was driven mainly by Agriculture (crop production), Information and Communication (telecommunications), Real Estate, Financial and Insurance (financial institutions), Trade, Construction, and Electricity, Gas, Steam & Air Conditioning Supply.
Despite its slower growth compared with the oil sector, the non-oil sector remained the dominant contributor to GDP, accounting for 95.95% in Q2 2025. This share was lower than the 96.49% recorded in Q2 2024 and the 96.03% in Q1 2025.
Sectoral Contributions
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Agriculture grew by 2.82% compared with 2.60% in Q2 2024.
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Industry expanded by 7.45%, significantly higher than 3.72% in Q2 2024, supported by oil and gas activities.
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Services recorded a growth rate of 3.94% compared to 3.83% in Q2 2024.
In terms of contribution to GDP, the Industry sector accounted for 17.31% in Q2 2025, up from 16.79% in Q2 2024, reflecting improved oil production and related activities.
Outlook
The Q2 2025 GDP performance highlights a broad-based improvement in Nigeria’s economy, supported by oil sector recovery, steady growth in agriculture and services, and expansion across key non-oil industries.
With inflation slowing and crude oil output stabilizing, analysts expect continued momentum into the second half of the year, though structural challenges such as insecurity, infrastructure deficits, and foreign exchange constraints remain risks to sustained growth.