By Atoyebi Nike
Nigeria’s real Gross Domestic Product (GDP) expanded by 4.23% year-on-year in the second quarter of 2025, according to the National Bureau of Statistics (NBS) in its newly released Q2 GDP report.
The growth marks a notable improvement from the 3.48% recorded in Q2 2024 and the 3.13% in Q1 2025, reflecting a strengthening economy supported by recent rebasing, increased oil production, and steady performance in non-oil industries.
The NBS explained that the rebasing of the GDP, using 2019 as the new base year, provided revised quarterly estimates aligned with updated annual figures.
Sectoral performance showed agriculture grew by 2.82%, up from 2.60% in Q2 2024. The industry sector recorded robust growth of 7.45%, compared to 3.72% a year earlier, while the services sector rose by 3.94%, slightly higher than the 3.83% in Q2 2024.
In terms of GDP share, the industry sector contributed 17.31% in Q2 2025, an increase from 16.79% in the same period of 2024. Aggregate GDP at basic prices stood at ₦100.73 trillion in nominal terms, up from ₦84.48 trillion in Q2 2024, representing a year-on-year nominal growth of 19.23%.
