The National Bureau of Statistics (NBS) has disclosed that the country’s economy recorded a 4.23 percent year-on-year growth in Gross Domestic Product (GDP) during the second quarter of 2025.
The NBS stated that the growth represents an improvement from the 3.48 percent recorded in the second quarter of 2024.
Statistics revealed in the latest GDP report, released on Monday, showed that the industrial sector was the star performer, expanding by 7.45 percent, more than double the 3.72 percent growth recorded in the same period a year earlier.
The sector’s contribution to GDP also climbed to 17.31 percent, compared with 16.79 percent in 2024.
Agriculture, a key driver of employment, posted 2.82 per cent growth, slightly higher than the 2.60 per cent recorded last year, while services rose to 3.94 per cent against 3.83 per cent in Q2 2024. Together, these sectors accounted for the bulk of national output.
Commenting on the figures, an Abuja-based economist said: “The report suggests that Nigeria’s economy is finding its footing again. Industry’s strong showing is particularly encouraging, and if this pace holds, it could open doors for more jobs and investments.”
In nominal terms, Nigeria’s GDP for Q2 2025 was valued at ₦100.73 trillion, significantly higher than the ₦84.48 trillion recorded in the corresponding quarter of 2024. This translates to a nominal year-on-year growth of 19.23 per cent.
The NBS noted that the computation of GDP now reflects a rebasing exercise, with 2019 adopted as the new benchmark year.
Experts believe this adjustment offers a more accurate representation of the country’s economic structure and could help policymakers frame better growth strategies.
