Nigeria’s economy has recorded a moderate growth of 3.98 percent in the third quarter of 2025, slightly surpassing the 3.86 percent growth rate achieved in the same period of 2024. According to the National Bureau of Statistics’ latest Gross Domestic Product report, the country’s economy has sustained a steady expansion despite lingering constraints.
The report highlights a mixed recovery across key sectors, with agriculture and industry posting stronger real growth while services continue to dominate overall output. The aggregate GDP in real terms stood at N57.03 trillion in the third quarter of 2025, up from N54.85 trillion in the corresponding quarter of the previous year. In nominal terms, output rose by 18.12 percent year-on-year to N113.59 trillion, compared to N96.16 trillion in the third quarter of 2024.
The services sector remains the largest contributor to the economy, accounting for 53.02 percent of the GDP, followed by agriculture at 31.21 percent. The oil sector posted a real growth rate of 5.84 percent, up from 5.66 percent in the third quarter of 2024, driven by an increase in average crude oil production to 1.64 million barrels per day.
The non-oil sector expanded by 3.91 percent, outperforming both the third quarter of 2024 and the second quarter of 2025. Agriculture grew by 3.79 percent, significantly improving from the previous year’s 2.55 percent. The manufacturing sector, however, slowed to 1.25 percent in real terms, down from 1.74 percent in the second quarter of 2025.
The information and communication services sector continued to perform strongly, driving a real growth rate of 5.78 percent. The real estate sector also saw significant growth, with nominal output surging by 89.34 percent year-on-year. Financial and insurance services grew sharply in real terms at 19.63 percent, driven by stronger performance in financial institutions.
The International Monetary Fund has revised Nigeria’s economic growth outlook upward, projecting a 3.9 percent GDP expansion in 2025, driven by higher oil production, stronger investor confidence, and a more supportive fiscal stance. The IMF has also upgraded the 2026 growth projection to 4.2 percent. The positive growth outlook is a welcome development for Nigeria’s economy, which has faced challenges in recent years. The country’s ability to sustain moderate expansion despite lingering constraints is a testament to its resilience and potential for growth.