Nigeria’s Gross Domestic Product (GDP) grew by 3.98% year-on-year in real terms in the third quarter of 2025, edging above the 3.86% recorded in the same quarter of 2024.
This is according to fresh data released by the National Bureau of Statistics (NBS).
In its Q3 GDP report, the NBS highlighted broad-based improvements across key sectors:
“Gross Domestic Product (GDP) grew by 3.98% (year-on-year) in real terms in the third quarter of 2025. This growth rate is higher than the 3.86% recorded in the third quarter of 2024. During the quarter under review, agriculture grew by 3.79%, an improvement from the 2.55% recorded in the corresponding quarter of 2024.
“The growth of the Industry sector stood at 3.77% from 2.78% recorded in the third quarter of 2024, while the Services sector recorded a growth of 4.15% from 4.97% in the same quarter of 2024. In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the third quarter of 2025 at 53.02% compared to the corresponding quarter of 2024 at 52.93%,” NBS stated.
The Services sector remained the economy’s largest contributor, accounting for 53.02% of total GDP—slightly higher than the 52.93% recorded a year earlier.
Aggregate nominal GDP rose significantly to N113.59 trillion in Q3 2025, compared to N96.16 trillion in Q3 2024, representing a nominal year-on-year growth of 18.12%.
Nigeria recorded an average daily oil production of 1.64 million barrels per day (mbpd) in Q3 2025, an improvement from 1.47 mbpd in the same period of 2024, though slightly lower than the 1.68 mbpd produced in Q2 2025.
Real growth in the oil sector stood at 5.84%, marginally higher than the 5.66% recorded in Q3 2024. However, growth slowed sharply when compared to the 20.46% recorded in the previous quarter, dropping by 14.62 percentage points. Quarter-on-quarter, the sector contracted by 5.53%.
The oil sector contributed 3.44% to real GDP in Q3 2025—higher than 3.38% in the same quarter of 2024 but lower than 4.05% in Q2 2025.
According to the NBS data, Nigeria recorded an average daily oil production of 1.64 million barrels per day (mbpd), higher than the daily average production of 1.47 mbpd recorded in the same quarter of 2024 by 0.17 mbpd and lower than the second quarter of 2025 production volume of 1.68 mbpd by 0.04mbpd.
The real growth of the oil sector was 5.84% (year-on-year) in Q3 2025, indicating an increase of 0.18% points relative to the rate recorded in the corresponding quarter of 2024 (5.66%).
Growth, according to the report, decreased by 14.62% points when compared to Q2 2025, which was 20.46%. On a quarter-on-quarter basis, the oil sector recorded a growth rate of -5.53% in Q3 2025.
The report also showed that the oil sector contributed 3.44% to the total real GDP in Q3 2025, up from the figure recorded in the corresponding period of 2024 at 3.38%. and down from the preceding quarter, where it contributed 4.05%.
The non-oil sector grew by 3.91% in real terms, surpassing the 3.79% growth recorded in Q3 2024 and the 3.64% posted in Q2 2025. Growth was driven by:
The non-oil economy accounted for 96.56% of real GDP—slightly lower than the 96.62% recorded in Q3 2024 but higher than 95.95% in Q2 2025.
The non-oil economy accounted for 96.56% of real GDP—slightly lower than the 96.62% recorded in Q3 2024 but higher than 95.95% in Q2 2025.
The Mining and Quarrying sector, which includes crude petroleum, coal mining, metal ores, and other minerals, contracted sharply in nominal terms, declining by 41.08% year-on-year.
The agricultural sector grew by 3.18% in nominal terms in Q3 2025, although this was 14.87 percentage points lower than Q3 2024. Compared to the previous quarter, growth improved by 1.34 percentage points.
Crop production remained dominant, accounting for 65.99% of the sector’s total nominal value.
Manufacturing GDP grew by 1.25% year-on-year, higher than the growth recorded in Q3 2024. However, the figure represents a slight decline of 0.34 percentage points compared to Q2 2025.
In Q2 2025, NBS reported that Nigeria’s GDP grew by 4.23% year-on-year in real terms in the second quarter of 2025.
This marks a stronger performance than the 3.48% recorded in the corresponding period of 2024.
The report shows that aggregate GDP at basic prices stood at N100.73 trillion in nominal terms, compared with N84.48 trillion in Q2 2024, representing a nominal growth of 19.23% year-on-year.