The National Bureau of Statistics (NBS) has released its latest economic performance data, revealing that the country’s real Gross Domestic Product expanded by 3.98% in the third quarter of 2025.
The newly published figures represent a slight decrease from the 4.23% growth rate recorded in the second quarter of 2025, indicating a marginal slowdown in economic momentum during the period under review.
The statistical report shows that Nigeria’s nominal GDP for Q3 2025 reached N113.59 trillion, while real GDP stood at N57.03 trillion, reflecting the nation’s economic output after adjusting for inflation.
Examining the quarterly progression, the economy demonstrated consistent growth throughout 2024 and into 2025. The first quarter of 2024 recorded a modest 2.27% expansion, which improved to 3.46% in Q2 2024. The third quarter of 2024 saw growth moderate slightly to 3.85% before easing to 3.76% in Q4 2024.
The upward trajectory continued into 2025, with Q1 registering 3.13% growth, followed by a strong 4.23% expansion in Q2, before the current quarter’s 3.98% performance.
When viewed from a yearly perspective, Nigeria’s economic recovery from the pandemic-induced contraction has been notable. The economy shrank by 6.94% in 2020 during the COVID-19 crisis but rebounded with 0.95% growth in 2021. This recovery accelerated significantly to 4.32% in 2022 before moderating to 3.04% in 2023 and 3.38% in 2024.
The non-oil sector continues to dominate Nigeria’s economic landscape, maintaining its position as the primary driver of growth. In Q3 2025, the non-oil sector contributed 96.56% to overall GDP, while oil accounted for just 3.44% of economic output.
This sectoral distribution has remained relatively stable in recent quarters, with non-oil GDP contributions ranging from 95.95% to 97.20% between Q1 2024 and Q3 2025, while oil sector contributions fluctuated between 2.80% and 4.05% within the same period.
Nigeria’s crude oil production remained relatively flat at 1.64 million barrels per day (MBPD) in Q3 2025, unchanged from the previous quarter. This production level has shown minimal variation throughout the year, ranging between 1.61 MBPD and 1.68 MBPD across different quarters since Q1 2024.
Breaking down the contribution to real GDP by major sectors, services maintained the largest share at 53.62%, followed by agriculture at 24.83%, and industries at 15.77%. This distribution underscores the services-oriented nature of Nigeria’s modern economy.
A detailed sectoral analysis across agriculture, industries, and services shows that the services sector has consistently maintained its dominant position throughout 2024 and into 2025, reflecting the ongoing structural transformation of the Nigerian economy away from traditional commodity dependence.
While the Q3 2025 growth rate of 3.98% represents a slight deceleration from the previous quarter’s robust 4.23% expansion, it still reflects continued positive economic momentum and remains above the growth rates recorded in early 2024.
Analysts will be watching closely to see whether the fourth quarter can maintain this growth trajectory or if further moderation is likely as the year concludes.
