Nigeria’s economy maintained its upward trajectory in the third quarter of 2025, with Gross Domestic Product (GDP) expanding by 3.98 percent year-on-year, according to fresh figures released by the National Bureau of Statistics (NBS) on Monday.
The performance builds on the momentum of the previous quarter, which had marked the country’s fastest growth in four years, largely driven by improvements in the oil sector.
The NBS report showed that average daily crude oil production rose to 1.64 million barrels per day (mbpd) in Q3, up from 1.47 mbpd in the same period of 2024. However, the figure was slightly below the 1.68 mbpd recorded in Q2 2025.
Analysts note that despite the marginal dip compared to the previous quarter, the oil sector’s recovery continues to provide critical support to Nigeria’s overall economic growth.
Nigeria’s economy has faced persistent challenges in recent years, including inflationary pressures, foreign exchange volatility, and insecurity affecting agricultural output.
The rebound in oil production has been crucial, given that petroleum exports remain the country’s largest source of foreign exchange earnings.
The Q3 growth figure also comes at a time when the government is intensifying efforts to diversify the economy through investments in technology, manufacturing, and agriculture.
Economists argue that sustaining growth beyond the oil sector will be vital to achieving long-term stability.
With global oil prices fluctuating and domestic reforms underway, Nigeria’s economic outlook for the final quarter of 2025 will depend on maintaining production levels while addressing structural bottlenecks.
The government’s push for fiscal discipline and renewed investment in non-oil sectors is expected to play a key role in sustaining momentum into 2026.
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