Nigeria’s economy recorded a moderate growth of 3.98 percent in the third quarter of 2025, slightly surpassing the 3.86 percent achieved in the same period of 2024. According to the National Bureau of Statistics’ latest Gross Domestic Product report, the economy has sustained steady expansion despite lingering constraints. The report highlights a mixed recovery across key sectors: agriculture and industry posted stronger real growth, while services continued to dominate overall output.
In real terms, aggregate GDP reached N57.03 trillion in the third quarter of 2025, up from N54.85 trillion a year earlier. In nominal terms, output rose 18.12 percent year‑on‑year to N113.59 trillion, compared with N96.16 trillion in the third quarter of 2024. The services sector remains the largest contributor, accounting for 53.02 percent of 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 a year earlier, driven by an increase in average crude production to 1.64 million barrels per day. The non‑oil sector expanded by 3.91 percent, outpacing both the third quarter of 2024 and the second quarter of 2025. Agriculture grew 3.79 percent, a significant improvement over the previous year’s 2.55 percent. Manufacturing, 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, delivering a real growth rate of 5.78 percent. The real estate sector saw nominal output surge by 89.34 percent year‑on‑year, while financial and insurance services grew sharply in real terms at 19.63 percent, buoyed by stronger performance in financial institutions.
The International Monetary Fund has revised Nigeria’s 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 also upgraded the 2026 growth projection to 4.2 percent. This positive outlook is a welcome development for an economy that has faced recent challenges, underscoring Nigeria’s resilience and potential for sustained moderate expansion.
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