NBS announces Nigeria’s GDP rose by 3.98 percent Q3 2025

*Nigeria’s National Bureau of Statistics announces the country’s Gross Domestic Product rate, in real terms, increased by 3.98 percent in the Third Quarter 2025, on a year-on-year basis

Alexander Davis | ConsumerConnect

Nigeria’s National Bureau of Statistics (NBS) has announced the country’s Gross Domestic Product (GDP) rate in real terms increased by 3.98 percent in the Third Quarter (Q3) 2025, on a year-on-year basis.

The NBS disclosed this in the Nigerian Gross Domestic Product (GDP) Report Q3 2025 released Monday, December 1, 2025, in Abuja, FCT.

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The report said the growth rate was higher than the 3.86 percent recorded Third Quarter of 2024.

The Bureau, however, noted it was lower than the 4.23 percent recorded in quarter two of 2025.

It said the Agriculture sector grew by 3.79 percent in the Third Quarter of 2025, an increase from the 2.55 percent recorded in the Third Quarter last year.

The report also indicated the industry witnessed a growth rate of 3.77 percent, an improvement from the 2.78 percent recorded in the Third Quarter of 2024.

The Services sector recorded a growth rate of 4.15 percent, a decrease from the 4.97 percent recorded Q3 2024.

The NBS said in terms of share of the GDP, the services sector contributed more to the aggregate GDP Q3 2025 at 53.02 percent compared to the 52.93 percent recorded Q3 2024.

The report said in the Third Quarter of 2025, aggregate GDP at basic price stood at N113.59 trillion in nominal terms.

The NBS further stated: “This performance is higher when compared to the third quarter of 2024 which recorded aggregate GDP of N96.160 trillion, indicating a year-on-year nominal growth of 18.22 per cent.”

The report said the oil sector witnessed a growth rate of 5.84 percent in Q3 2025 on a year-on-year basis, showing an increase of 0.18 percent points compared to the 5.66 percent recorded in Q3 2024.

It noted: “However, growth decreased in the oil sector by 14.62 percent points when compared to the 20.46 percent recorded in Q2 2025.”

The report as well noted the oil sector contributed 3.44 percent to the total real GDP Q3 2025, an increase from the 3.38 percent recorded in Q3 2024 and a decrease from the 4.05 percent it contributed Q2 2025.

The report said Q3 2025 recorded an average daily oil production of 1.64 million barrels per day (mbpd), higher than the daily average production of 1.47 mbpd recorded in Q3 2024 by 0.17 mbpd.

“However, the production volume for Q3 2025 was lower than Q2 2025, which recorded 1.68 mbpd by 0.04 mbpd,” it said.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) September this year, had reported that crude oil production dropped to 1.58 mbpd in the downstream petroleum sector.

According to NUPRC, the decline was primarily due to the three-day industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

The Commission said the strike had led to the shutdown of several production and export facilities.

Besides, the scheduled maintenance at two major production facilities further contributed to the drop.

The NBS said the non-oil sector contributed 96.56 percent to the GDP Q3 2025 in real terms.

The report said: “This shows a decrease from the contribution recorded in Q3 2024 at 96.62 per cent and an increase in Q2 2025 recorded at 95.95 percent.”

The report said the non-oil sector Q3 2025 was driven mainly by agriculture(crop production); information and communication (telecommunication), real estate; finance and insurance(financial institutions); trade; construction and manufacturing, all accounting for positive GDP growth.

It is equally noted that the NBS rebased Nigeria’s GDP with 2019 as the base year due to the relative stability of the economy.

The NBS said 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 compared to the 2025 third-quarter estimates, the Bureau stated.

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