Nigeria’s Gross Domestic Product (GDP) grew by 4.23% year-on-year in the second quarter of 2025, according to figures released on Monday by the National Bureau of Statistics (NBS). The growth marks a significant improvement compared to 3.48% recorded in the same period of 2024 and 3.13% in the first quarter of 2025, signaling stronger economic performance.

The NBS attributed the growth to recent GDP rebasing, a rebound in oil production, and resilience in the non-oil sector. Agriculture expanded by 2.82% compared to 2.60% in Q2 2024, while the industry sector surged by 7.45% from 3.72% in the same quarter last year. The services sector also recorded 3.94% growth, slightly up from 3.83% in 2024.

In terms of GDP composition, the industry sector contributed 17.31% to the economy, up from 16.79% in the corresponding quarter of 2024. Nominal GDP stood at ₦100.73 trillion in Q2 2025, reflecting a year-on-year nominal growth of 19.23% compared to ₦84.48 trillion in Q2 2024.