Nigeria’s economic output continued its growth trajectory in the third quarter of 2025, with the National Bureau of Statistics (NBS) reporting a 3.98% year-on-year increase in GDP. The expansion was driven by stronger activities in both the oil and non-oil sectors, which climbed 5.84% and 3.91% respectively.
The Q3 figure slightly outperformed the 3.86% recorded in the same quarter of 2024, though it remained below the 4.23% growth posted in Q2 2025. Agriculture recorded one of its strongest third-quarter performances in recent years, growing 3.79%, a notable increase from the 2.55% reported in Q3 2024.
The industrial sector also rebounded, posting a 3.77% growth rate compared to 2.78% the previous year. However, the services sector, while still the largest contributor to GDP, slowed to 4.15% from the 4.97% recorded in the corresponding quarter of 2024.
Despite the moderation, services remained the backbone of the economy, accounting for 53.02% of total GDP, a slight increase from 52.93% in Q3 2024. Nominal GDP for the quarter stood at N113.59 trillion, up from N96.16 trillion the previous year, representing an 18.22% growth in nominal terms.
The oil sector delivered a 5.84% year-on-year expansion, marginally higher than 5.66% in Q3 2024 but significantly lower than the 20.46% reported in Q2 2025. The sector’s total contribution to real GDP stood at 3.44%, compared to 3.38% in Q3 2024.
Average crude oil production rose to 1.64 million barrels per day (mbpd), 0.17 mbpd higher than production in Q3 2024. However, the figure was slightly lower than Q2 2025’s 1.68 mbpd.
The bureau noted that September 2025 experienced a temporary dip in crude output to 1.58 mbpd due to a three-day strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). Additionally, maintenance activities at major installations contributed to the decline.
The non-oil sector maintained dominance, contributing 96.56% to real GDP, supported by strong performance in crop production, ICT (especially telecommunications), real estate, financial institutions, trade, construction, and manufacturing.
NBS further explained that the GDP calculation has been rebased with 2019 as the new base year to reflect a more stable economic environment, aligning both quarterly and annual GDP records to global statistical standards.
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