BREAKING:  Nigeria’s GDP expands by 4.23% in Q2 2025, says NBS

The National Bureau of Statistics (NBS), on Monday disclosed that Nigeria’s economy expanded further in Q2 2025, with real Gross Domestic Product (GDP) growing by 4.23 per cent from 3.13 per cent in first quarter of 2025. 

According to NBS,  the oil sector grew by 20.46 per cent in Q2 2025 1.87 per cent in Q1 2025 with crude oil production averaged 1.68mb/d in Q2 2025, 19.1 per cent   higher than in Q2 2024 of 1.41mb/d.

As a result, the oil sector contributed 4.05per cent to the total GDP (Q1 2025: 3.97per cent) during the review period.

 At the same time, the non-oil sector expanded by 3.64 per cent in Q2 2025 (Q1 2025: +3.19per cent). Thus, the non-oil sector contributed 95.95per cent to the total GDP (vs 96.03per cent in Q1 2025).

From a sectoral perspective, Agriculture GDP grew by 2.82per cent (Q1 2025: +0.07 per cent), Services GDP expanded slowly by 3.94per cent (Q1 2025: +4.33per cent), while Industries GDP grew by 7.45per cent (Q1 2025: +3.42per cent).

In terms of contribution, Services, Agriculture, and Industries, respectively, accounted for 56.53per cent, 26.17per cent, and 17.31per cent of the overall GDP.

…more details shortly.