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The National Bureau of Statistics (NBS) released the GDP report for the third quarter (Q3) of 2025, which indicated that the Nigerian economy expanded by 3.98% year-on-year YoY (vs 4.23% YoY recorded in Q2’25).
Both the oil and non-oil sectors scaled by 5.84% YoY and 3.91% YoY, respectively (vs 5.66% YoY and 3.79% YoY in the prior period).
Key Drivers of Q3 2025 GDP Growth
Services Sector: This sector remains the largest contributor to the aggregate GDP at 53.02%. It grew by 4.15% in Q3 2025, with major drivers including Telecommunications, Real Estate, Trade, and Financial Services.
Agriculture Sector: Growth here saw a notable improvement, expanding by 3.79% (up from 2.55% in Q3 2024), driven primarily by strong crop production. The sector contributed 31.21% to the total real GDP.
Industry Sector: This sector also recorded stronger growth at 3.77% (up from 2.78% in Q3 2024). This improvement reflects increased activity, partly benefiting from growing refinery throughput and better performance in food and beverage manufacturing.
Oil Sector: The oil sector recorded a real growth rate of 5.84%, supported by an increase in average daily crude oil production to 1.64 million barrels per day compared to 1.47 mbpd a year earlier. However, the oil sector’s contribution to the overall real GDP remains small, at 3.44%.
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