Economy: Nigeria’s GDP grows by 4.23 percent Q2 2025 with non-oil sector’s significant contribution –NBS

*The National Bureau of Statistics discloses the Nigerian economy grew by 4.23 percent in the Second Quarter (Q2) of 2025, emphasising the non-oil sector of the economy played a significant role in driving this growth, contributing 95.95 percent to the West African country’s total Gross Domestic Product  

Isola Moses | ConsumerConnect

The National Bureau of Statistics (NBS) has said the Nigerian economy grew by 4.23 percent in the Second Quarter (Q2) of 2025.

The NBS disclosed this development in a report released on its corporate Web site Monday, September 21, 2025, the growth rate is higher than the 3.48% recorded in Q2 2024 and the 3.13% recorded in First Quarter (Q1) 2025.

According to the Bureau, the non-oil sector of the Nigerian economy played a significant role in driving this growth, contributing 95.95 percent to the country’s total Gross Domestic Product (GDP).

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This sector grew by 3.64% in Q2 2025, underscoring the country’s increasing reliance on agriculture, industries, and services to fuel economic expansion.

A breakdown of the sectoral contributions further indicated that the Services sector accounted for 56.53% of the overall GDP, with a growth rate of 3.94%.

Also, Agriculture contributed 26.17% to the GDP, growing by 2.82%, while industries accounted for 17.31% of the GDP with a notable growth rate of 7.45%, according to NBS.

The report also stated: “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.”

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The Bureau said: “Gross Domestic Product grew by 4.23% (year-on-year) in real terms in the second quarter of 2025.”

The report noted: “This growth rate is higher than the 3.48 percent 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 NBS as well revealed that “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.”

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