Nigeria’s economy is showing signs of recovery. Fresh figures from the National Bureau of Statistics (NBS) reveal that Gross Domestic Product grew by 4.23% year-on-year in real terms in Q2 2025.
The growth is stronger than the 3.48% recorded in Q2 2024 and the 3.13% in Q1 2025, showing a steady upward trend.
Agriculture grew by 2.82% compared to 2.60% in the same quarter of 2024. The industry sector surged by 7.45%, more than double the 3.72% growth a year earlier. Services expanded by 3.94%, slightly better than 3.83% in Q2 2024.
The oil sector recorded impressive real growth of 20.46% in Q2 2025, a sharp rise from 10.08% a year earlier and 1.87% in Q1 2025.
Daily oil production climbed to 1.68 million barrels per day, higher than 1.41 mbpd in Q2 2024 and 1.62 mbpd in Q1 2025.
The sector contributed 4.05% to total GDP, up from 3.51% in Q2 2024 and slightly higher than 3.97% in Q1 2025.
Non-Oil Still Dominates
The non-oil sector remained the backbone of the economy, growing 3.64% in real terms. This was stronger than 3.26% in Q2 2024 and 3.19% in Q1 2025.
The sector was powered by agriculture, telecoms, real estate, finance, trade, construction, and electricity. It accounted for 95.95% of GDP, though this was slightly lower than 96.49% in Q2 2024.
In nominal terms, Nigeria’s GDP stood at ₦100.73trn in Q2 2025, compared to ₦84.48trn a year earlier. This reflects a nominal year-on-year growth of 19.23%.
Industry’s share of GDP rose to 17.31% in Q2 2025 from 16.79% in the same period of 2024.
The NBS report shows how both oil and non-oil contributions remain vital, even as global oil prices and low local production continue to challenge the economy.
For the official breakdowns, see the National Bureau of Statistics report.
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