Nigeria’s economy recorded a steady improvement in the third quarter of 2025, with the Gross Domestic Product (GDP) expanding by 3.98 per cent year-on-year in real terms, according to the latest report released by the National Bureau of Statistics (NBS).
The growth rate reflects a marginal uptick compared to the 3.86 per cent recorded in the same quarter of 2024, signalling continued resilience despite lingering macroeconomic challenges.
According to the NBS, the positive performance was driven by broad-based improvements across major sectors. The agriculture sector, which remains a cornerstone of the economy, grew by 3.79 per cent, up from 2.55 per cent in the corresponding period of 2024. The agency attributed the rebound to improved rainfall patterns, enhanced mechanisation efforts, and gradual recovery in crop production.
The industry sector also posted stronger numbers, expanding by 3.77 per cent, compared with 2.78 per cent in the third quarter of 2024. Improved activities in manufacturing, solid minerals, and oil refining contributed to the growth, alongside increased energy output and renewed investor confidence in midstream and downstream operations.
Meanwhile, the services sector remained the dominant force in the economy. Although its year-on-year growth moderated slightly to 4.15 per cent, down from 4.97 per cent in Q3 2024, the sector still accounted for the largest share of economic output. Services contributed 53.02 per cent to total GDP in the quarter, higher than the 52.93 per cent recorded a year earlier.
The NBS noted that the services sector’s sustained expansion continues to reflect rising digital adoption, increased financial services activity, and stable performance in transportation, telecommunications, and trade.
Analysts say the Q3 2025 GDP results reinforce Nigeria’s gradual economic recovery and align with ongoing fiscal and monetary reforms aimed at stabilising prices, boosting productivity, and attracting capital inflows.
However, they caution that sustaining the momentum will require deeper structural reforms, improved infrastructure investment, and targeted interventions to address inflation, unemployment, and foreign exchange constraints.
The NBS is expected to release additional sector-level data in the coming weeks, offering further insight into the drivers of Nigeria’s economic performance.
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