Nigeria’s economy has shown a notable increase in growth, with the Gross Domestic Product (GDP) rising by 4.23 percent on a year-on-year basis in the second quarter of 2025. This information is based on a report released by the National Bureau of Statistics (NBS) on Monday.

The NBS report indicates that the current growth rate surpasses the 3.48 percent recorded in the same period of 2024 and the 3.13 percent posted in the first quarter of 2025. This upward trend suggests a positive trajectory for the country’s economic performance.

The growth in GDP is a significant economic indicator, reflecting the overall health and productivity of a nation’s economy. Nigeria, being one of the largest economies in Africa, experiences fluctuations in its economic growth due to various internal and external factors. The recent increase could be attributed to several sectors contributing to the country’s economic output, such as agriculture, manufacturing, and services.

In the context of global economic trends, Nigeria’s GDP growth rate is noteworthy. The country has been working to diversify its economy, reduce dependence on oil exports, and promote sustainable development. The NBS report provides valuable insights into the country’s economic progress, helping policymakers, investors, and other stakeholders make informed decisions.

The National Bureau of Statistics plays a crucial role in providing accurate and timely data on the country’s economic performance. Its reports are closely watched by both domestic and international observers, as they offer a comprehensive overview of Nigeria’s economic situation.

As Nigeria continues on its path of economic development, the latest GDP growth figures will be closely analyzed. The government and private sector will likely use this data to assess the effectiveness of current economic policies and identify areas for improvement. With this positive growth rate, Nigeria may be poised for further economic expansion, potentially leading to increased investment and job creation.