Recent data from the National Bureau of Statistics reveals that Nigeria’s economy continues to demonstrate robust growth and resilience, with the Gross Domestic Product (GDP) expanding by 4.23% year-on-year in real terms during the second quarter of 2025.
This growth rate surpasses the 3.48% recorded in Q2 2024 and also exceeds the 3.13% growth seen in the first quarter of 2025.
Examining sectoral performance, the agricultural sector experienced a 2.82% increase, improving from 2.60% in the same quarter last year.
The industrial sector showed remarkable progress, growing by 7.45% compared to 3.72% in Q2 2024, while the services sector expanded by 3.94%, slightly up from 3.83% in the corresponding period of the previous year.
Regarding contributions to the overall GDP, the industrial sector’s share rose to 17.31% in Q2 2025, up from 16.79% in Q2 2024, highlighting its growing influence on the economy.
In nominal terms, the aggregate GDP at basic prices reached N100.73 trillion during the quarter, a significant increase from N84.48 trillion recorded in Q2 2024, reflecting a nominal year-on-year growth of 19.23%.
For analytical clarity, the Nigerian economy is broadly segmented into oil and non-oil sectors.
The non-oil sector recorded a real growth rate of 3.64% in Q2 2025, marking a 0.38 percentage point increase from 3.26% in the same quarter of 2024 and surpassing the 3.19% growth in Q1 2025.
This expansion was primarily fueled by key industries such as crop production within agriculture, telecommunications under information and communication, real estate, financial services including insurance, trade, construction, and utilities like electricity, gas, steam, and air conditioning supply.
Despite this growth, the non-oil sector’s contribution to the nation’s GDP slightly declined to 95.95% in Q2 2025 from 96.49% in Q2 2024 and 96.03% in Q1 2025.
Conversely, the oil sector experienced a substantial real growth of 20.46% year-on-year in Q2 2025, an increase of 10.38 percentage points compared to 10.08% in Q2 2024, and a significant jump of 18.59 percentage points from 1.87% in Q1 2025.
On a quarter-to-quarter basis, the oil industry grew by 6.01% in Q2 2025.
The oil sector’s share of total real GDP rose to 4.05% in Q2 2025, up from 3.51% in the same quarter last year and 3.97% in the previous quarter.
During this period, Nigeria’s average daily oil production reached 1.68 million barrels per day (mbpd), an increase of 0.27 mbpd from 1.41 mbpd in Q2 2024 and 0.06 mbpd higher than the 1.62 mbpd recorded in Q1 2025.
