Nigeria’s average daily crude oil production rose to 1.68 million barrels per day in the second quarter of 2025, the highest quarterly output recorded since 2022. This is according to the latest report from the National Bureau of Statistics (NBS), which confirmed that the country met its production quota set by the Organization of Petroleum Exporting Countries (OPEC) during the period.
The NBS also reported that the economy expanded by 4.23 percent year-on-year in real terms during the second quarter of 2025, marking an improvement over the 3.48 percent growth recorded in the same quarter of 2024. The figures reflect updated calculations following the rebasing of the Gross Domestic Product (GDP), which now uses 2019 as the base year. Previous quarterly GDP estimates were aligned with the rebased annual data to ensure consistency with the new methodology.
Key sectors of the economy showed steady growth during the quarter. Agriculture grew by 2.82 percent, up from 2.60 percent in the second quarter of 2024. The industry sector expanded significantly by 7.45 percent, compared to 3.72 percent in the same period last year. Services recorded a 3.94 percent increase, slightly above the 3.83 percent posted in the second quarter of 2024. In terms of GDP contribution, the industry sector accounted for 17.31 percent of the total output, up from 16.79 percent in the same period last year.
In nominal terms, Nigeria’s aggregate GDP stood at ₦100.73 trillion in the second quarter of 2025, compared to ₦84.84 trillion in the corresponding quarter of 2024 indicating a year-on-year nominal growth of 19.23 percent.
The oil sector recorded strong performance, with real growth of 20.46 percent year-on-year in Q2 2025, a significant jump from the 10.08 percent recorded in the same quarter of 2024. Compared to the first quarter of 2025, where growth was just 1.87 percent, the sector saw an 18.59 percentage point increase. On a quarter-on-quarter basis, the oil sector grew by 6.01 percent. Its contribution to total real GDP rose to 4.05 percent, up from 3.51 percent in Q2 2024 and 3.97 percent in the previous quarter.
The NBS attributed the improved oil output and sectoral performance to ongoing recovery efforts and enhanced operational efficiencies in the industry.
