Nigerian GDP which was ratified back to the N205TR, grew by 3.46% in Q1 2025, said NBS

The National Statistics Bureau (NBS) has announced that the Nigerian gross domestic product (GDP) grew by 3.46% in real year-to-year in the first quarter of 2025.

According to the numbers released by the bureau in Abuja on Monday, July 21, 2025, it reflects a simple increase compared to the 2.98% growth recorded in the fourth quarter of 2024, but slightly decreased from 3.61% posted in Q1 2024.

The latest GDP data, which was released in the context of the Nigerian national account that was charged again, the signal continued to expand in economic activities despite the applicable macroeconomic challenges.

Meanwhile, Nigerian GDP has been released from N80 trillion to N205 trillion.

This is according to the statistics of the Federation General, Adeyemi Adeniran.

This figure, according to him, showed an increase of 41. 7 percent compared to the numbers obtained during the 2014 GDP rebasing exercise.

Also Read: IMF Review of 2025 Nigerian GDP Forecast, 3.4% Growth Project

Adeniran revealed that the top five performance sectors including crop production, trade, real estate, telecommunications and oil and gas.

The new Rebasing includes a period between 2019 to 2023, using 2019 as a new basic year.

Rebasing GDP is the process of updating the basic year used to calculate Gross Domestic Product (GDP) to reflect changes in structure and economic composition.

This involves the use of a newer basic year to accurately reflect modern economic activities, consumption patterns, and sectoral contributions.

By: Babajide Okeowo