Nigeria’s economy grew by 3.98% in the third quarter of 2025, slightly above the 3.86% recorded in the same period of 2024, according to new data from the National Bureau of Statistics (NBS).
The report shows broad economic improvement driven mainly by stronger agricultural performance, renewed industrial activity, and steady gains in key service industries.
Agriculture grew by 3.79% in real terms up from 2.55% last year boosted by better crop production, improved seasonal conditions, easing inflation pressures, and increased access to inputs. Industry also recorded stronger growth, rising to 3.77% from 2.78% in Q3 2024, reflecting recovery in manufacturing, construction, and utilities despite challenges from exchange rate instability and high energy costs.
The services sector, though moderating slightly from 4.97% to 4.15%, remained the largest contributor to the economy, accounting for 53.02% of GDP.
Nigeria’s nominal GDP rose sharply to N113.59 trillion, compared to N96.16 trillion in Q3 2024 an 18.12% increase driven by real-sector growth and higher price levels.
The oil sector delivered mixed results. Average crude oil production increased to 1.64 mbpd from 1.47 mbpd last year but was below the 1.68 mbpd recorded in Q2 2025. Real growth in the sector stood at 5.84%, only slightly higher than last year but far below the 20.46% seen in the previous quarter. A quarter-on-quarter contraction of 5.53%, attributed to temporary disruptions, pipeline repairs, and global price swings, slowed momentum. Still, the oil sector contributed 3.44% to real GDP, slightly higher than the previous year.
The non-oil sector remained the main engine of growth, expanding by 3.91%—higher than both Q3 2024 and Q2 2025. Key contributors included agriculture, telecoms, real estate, finance, construction, manufacturing, and trade. It accounted for 96.56% of real GDP.
Meanwhile, the Mining and Quarrying sector struggled, contracting by 41.08% in nominal terms, highlighting ongoing structural issues in extractive industries.
Overall, the Q3 report points to a gradually strengthening economy. Sustaining this progress will depend on continued diversification, stable prices, better infrastructure, and stronger investor confidence going forward.