UPDATED: Nigeria’s GDP grew by 3.98% in Q3 2025, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that Nigeria’s Gross Domestic Product (GDP) grew by 3.98per cent (year-on-year) in real terms in the third (Q3) quarter of 2025.
According to the latest NBS report, the growth rate is higher than the 3.86per cent recorded in the third quarter of 2024.
“During the quarter under review, agriculture grew by 3.79per cent , an improvement from the 2.55per cent recorded in the corresponding quarter of 2024.
“The growth of the Industry sector stood at 3.77per cent from 2.78per cent recorded in the third quarter of 2024, while the Services sector recorded a growth of 4.15per cent from 4.97per cent in the same quarter of 2024. In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the third quarter of 2025 at 53.02per cent compared to the corresponding quarter of 2024 at 52.93per cent .
“In the quarter under review, aggregate GDP at basic price stood at N113,587,291.77 million in nominal terms,”the report stated.
According to the report, the performance is higher when compared to the third quarter of 2024, which recorded an aggregate GDP of N96,160,479.86 million, indicating a year-on-year nominal growth of 18.12per cent. For better clarity, the Nigerian economy has been classified broadly into the oil and non-oil sectors.
The report noted that the nation in the third quarter of 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 the same quarter of 2024 by 0.17 mbpd and lower than the second quarter of 2025 production volume of 1.68 mbpd by 0.04mbpd.
The real growth of the oil sector was 5.84 (year-on-year) in Q3 2025, indicating an increase of 0.18percentage points relative to the rate recorded in the corresponding quarter of 2024 (5.6per cent). Growth decreased by 14.62percentage points when compared to Q2 2025, which was 20.46per cent.
On a quarter-on-quarter basis, the oil sector recorded a growth rate of -5.53per cent in Q3 2025. The Oil sector contributed 3.44per cent to the total real GDP in Q3 2025, up from the figure recorded in the corresponding period of 2024 at 3.38per cent. and down from the preceding quarter, where it contributed 4.05per cent.
In the non-oil sector, the report stated that “The non-oil sector grew by 3.91per cent in real terms during the reference quarter (Q3 2025). This rate was higher by 0.11percentage points compared to the rate recorded in the same quarter of 2024, which was 3.79per cent and higher than the 3.64% recorded in the second quarter of 2025.
“This sector was driven in the third quarter of 2025 mainly by Agriculture (Crop production); Information and Communication (Telecommunications); Real Estate; Financial and Insurance (Financial Institutions); Trade; Construction; and Manufacturing, accounting for positive GDP growth. In real terms, the non-oil sector contributed 96.56per cent to the nation’s GDP in the third quarter of 2025, lower than the share recorded in the third quarter of 2024, which was 96.62per cent and higher than the second quarter of 2025 recorded as 95.95per cent.
