Nigeria’s Gross Domestic Product (GDP) expanded by 3.98% year-on-year in real terms in Q3 2025, slightly higher than the 3.86% growth recorded in the same quarter of 2024, according to the latest National Bureau of Statistics (NBS) report.
The Q3 GDP data shows broad-based improvements across key sectors, with agriculture, industry, and services all contributing to the country’s economic performance.
Key Highlights from the NBS Q3 2025 GDP Report
1. Overall GDP Performance
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Real GDP growth: 3.98% (Q3 2025)
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Slight increase from 3.86% (Q3 2024)
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Nominal GDP grew to N113.59 trillion, up from N96.16 trillion in Q3 2024—a year-on-year increase of 18.12%
Sector-by-Sector Breakdown
Agriculture Sector
Agriculture recorded:
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3.79% growth in real terms, up from 2.55% in Q3 2024
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Nominal sector growth: 3.18%, though 14.87 percentage points lower year-on-year
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Crop production dominated the sector, accounting for 65.99% of total agriculture output
Industry Sector
The industry sector expanded by:
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3.77% in real terms, up from 2.78% in Q3 2024
Services Sector
The services sector remained Nigeria’s largest contributor:
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Real growth: 4.15% (slightly lower than 4.97% in Q3 2024)
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Share of GDP: 53.02%, up from 52.93% in the previous year
Oil Sector: Modest Improvements, Slower Momentum
Nigeria’s average daily oil production:
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1.64 million barrels per day (mbpd) in Q3 2025
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Higher than 1.47 mbpd in Q3 2024
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Slightly below 1.68 mbpd in Q2 2025
Oil sector performance:
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Real growth: 5.84%, marginally higher than 5.66% in Q3 2024
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Sharp decline compared to 20.46% in Q2 2025
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Quarter-on-quarter contraction: 5.53%
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GDP contribution: 3.44%, up from 3.38% in 2024 but lower than 4.05% in Q2 2025
Non-Oil Sector: Continued Stability
The non-oil sector recorded:
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3.91% growth in real terms
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Higher than 3.79% (Q3 2024) and 3.64% (Q2 2025)
Key drivers:
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Agriculture
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Telecommunications
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Trade
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Real estate
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Financial institutions
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Construction
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Manufacturing
Non-oil GDP share:
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96.56% of real GDP (slightly lower than 96.62% in Q3 2024)
The Mining and Quarrying segment—covering crude petroleum, metal ores, coal mining, and other minerals—declined sharply in nominal terms by 41.08% year-on-year.
Manufacturing Sector
Manufacturing GDP:
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Grew 1.25% year-on-year, improving on Q3 2024
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Slight decline of 0.34 percentage points compared to Q2 2025
Context: Previous Quarter (Q2 2025)
In Q2 2025, the NBS reported:
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4.23% real GDP growth, higher than 3.48% in Q2 2024
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Nominal GDP: N100.73 trillion, compared to N84.48 trillion—a 19.23% year-on-year increase
