Nigerian GDP rose 4.23% in Q2 2025 – NBS

Nigerian Gross Domestic Product (GDP) rose 4.23 percent on the basis of years-to-year in the second quarter of 2025, the National Statistics Bureau (NBS) said on Monday.

NBS, in the GDP report for Q2 2025 released in Abuja, said the growth rate was higher than 3.48 percent recorded in the same quarter in 2024 and above 3.13 percent recorded in the first quarter (Q1) of 2025.

“During the quarter being reviewed, agriculture grew by 2.82%, an increase of 2.60% recorded in the appropriate quarter of 2024,” the report read.

“The growth of the industrial sector reached 7.45% of the 3.72% recorded in the second quarter of 2024, while the service sector recorded a growth of 3.94% from 3.83% in the same quarter in 2024.”

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According to the bureau, in terms of shares, GDP in Q2 was encouraged mainly by the industrial sector by 17.31 percent compared to the appropriate quarter of 2024 at 16.79 percent.

The body further said that in the quarter being reviewed, Aggregate GDP was established in N100.73 trillion in nominal terms.

“This performance is higher when compared to the second quarter of 2024, which recorded Aggregate GDP N84,484,878.46 million, showed nominal growth of years-to-year 19.23%,” he added.

The bureau states that the original GDP stands in N51.20 trillion.

By: Babajide Okeowo