Nigeria’s economy grew by 4.23 per cent year-on-year in the second quarter of 2025, according to the National Bureau of Statistics (NBS).
This is marking a notable improvement compared to 3.48 per cent in Q2 2024 and 3.13 per cent in the first quarter of 2025.
The data, contained in the Q2 2025 GDP Report released on Monday, shows that growth was largely driven by a strong performance in the industry sector.
Following the rebasing of the GDP series using 2019 as the new base year, NBS said quarterly estimates were benchmarked to the revised annual figures to ensure consistency.
“In real terms, GDP grew by 4.23% in the second quarter of 2025, higher than the 3.48% recorded in the corresponding period of 2024,” the report stated.
The agriculture sector grew by 2.82%, up from 2.60% in Q2 2024. The industry sector surged by 7.45%, more than doubling its 3.72% growth in the same quarter last year, while services expanded by 3.94%, slightly above 3.83% in Q2 2024.
On sectoral contributions, industry accounted for 17.31% of total GDP in the review period, compared to 16.79% a year earlier.
At current basic prices, aggregate GDP stood at ₦100.73 trillion, representing a year-on-year nominal growth of 19.23% against ₦84.48 trillion recorded in Q2 2024.
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