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Nigeria’s Gross Domestic Product (GDP) rose by 4.23 per cent on a year-on-year basis in the second quarter of 2025, the National Bureau of Statistics (NBS) said on Monday.
The NBS, in it’s GDP report for Q2 2025 released in Abuja, said the growth rate was higher than the 3.48 percent recorded in the same quarter in 2024 and above the 3.13 per cent recorded in the first quarter (Q1) of 2025.
“During the quarter under review, agriculture grew by 2.82%, an improvement from the 2.60% recorded in the corresponding quarter of 2024,” the report read.
“The growth of the industry sector stood at 7.45% from 3.72% recorded in the second quarter of 2024, while the Services sector recorded a growth of 3.94% from 3.83% in the same quarter of 2024.”
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According to the bureau, in terms of share, GDP in Q2 was driven mainly by the industry sector at 17.31 per cent compared to the corresponding quarter of 2024 at 16.79 per cent.
The body further said that in the quarter under review, the aggregate GDP stood at N100.73 trillion in nominal terms.
“This performance is higher when compared to the second quarter of 2024, which recorded an aggregate GDP of N84,484,878.46 million, indicating a year-on-year nominal growth of 19.23%,” it added.
The bureau stated that the real GDP stood at N51.20 trillion.
By: Babajide Okeowo
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