Nigeria’s Economy Grows 4.23% in Q2 2025, Driven by Oil and Industry – NBS

Сообщение 2025-09-22 18:03:27 · 533 Просмотры

Nigeria’s Gross Domestic Product (GDP) grew by 4.23% year-on-year in the second quarter of 2025, according to the National Bureau of Statistics (NBS) — a notable improvement from the 3.48% recorded in Q2 2024. The growth reflects continued recovery and resilience across key sectors of the economy.

Key Highlights:

Oil Sector:
- Real GDP growth surged to 20.46%, up from 10.08% in Q2 2024.
- Average daily oil production rose to 1.68 million barrels, a significant increase from 1.41 million barrels in Q2 2024.
- The sector contributed 4.05% to total GDP, up from 3.51% the previous year.
Industry Sector:
- Grew by 7.45%, compared to 3.72% in Q2 2024.
- Share of GDP rose to 17.31%, up from 16.79%.
Agriculture Sector:
- Grew by 2.82% in real terms, slightly above the 2.60% recorded in Q2 2024.
Services Sector:
- Recorded 3.94% real growth, marginally higher than 3.83% in Q2 2024.
Mining & Quarrying Subsector:
- Expanded by 20.86% in real terms.
- Boosted by a 50.41% rise in quarrying and 32.59% growth in coal mining.
- Contributed 4.23% to GDP, up from 3.64%.
Non-Oil Sector:
- Grew by 3.64%, up from 3.26% in Q2 2024.
- However, its GDP share declined slightly to 95.95%, compared to 96.49% in Q2 2024.
Nominal GDP:
- Reached ₦100.73 trillion, up from ₦84.48 trillion in Q2 2024, representing 19.23% nominal growth.

The NBS noted that stronger oil production, industrial output, and steady non-oil sector performance—particularly in agriculture, ICT, and real estate—were key contributors to the country’s economic momentum.

#its_GDP_share_declined_slightly_to_95.95% #up_from_₦84.48_trillion_in_Q2_2024 #industrial_output #ICT

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Nigeria’s Economy Grows 4.23% in Q2 2025, Driven by Oil and Industry – NBS

Key Highlights:

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