Nigeria’s economy has shown a positive trend, with its gross domestic product (GDP) growing by 3.98 percent in real terms in the third quarter of 2025. This growth rate surpasses the 3.86 percent recorded in the same quarter of 2024, according to the National Bureau of Statistics (NBS). The NBS attributed this increase to improvements in various sectors, including agriculture, which grew by 3.79 percent, up from 2.55 percent in the corresponding quarter of 2024.
The industry sector also experienced growth, with a 3.77 percent increase from 2.78 percent in the third quarter of 2024. In contrast, the services sector recorded a growth of 4.15 percent, albeit lower than the 4.97 percent recorded in the same quarter of 2024. The services sector remains the largest contributor to the country’s GDP, accounting for 53.02 percent of the aggregate GDP in the third quarter of 2025, compared to 52.93 percent in the corresponding quarter of 2024.
In nominal terms, the aggregate GDP stood at N113.58 trillion, representing a year-on-year nominal growth of 18.12 percent. This performance is higher than the aggregate GDP of N96.16 trillion recorded in the third quarter of 2024. The NBS report highlights the country’s economic progress, with the growth rate indicating a positive outlook for Nigeria’s economy.
The growth in GDP is a significant indicator of the country’s economic performance, and the NBS report provides insight into the trends and patterns in various sectors. As the country continues to navigate its economic journey, these statistics will be crucial in informing policy decisions and driving growth. With the International Monetary Fund (IMF) predicting a rise in Nigeria’s real GDP to 4.2 percent in 2026, the country’s economic prospects appear promising. The NBS report serves as a vital tool for stakeholders, including policymakers, investors, and economists, to assess the country’s economic progress and make informed decisions.
