Nigeria’s economy expanded by 4.23 per cent in the second quarter of 2025, a performance the Presidency says affirms the success of President Bola Ahmed Tinubu’s reform agenda.
The National Bureau of Statistics (NBS), in its Q2 2025 GDP report released on Monday, revealed that the growth rate outperformed the 3.48 per cent posted in the same quarter of 2024 and the 3.13 per cent recorded in Q1 2025.
Special Adviser to the President on Media and Public Communication, Sunday Dare, welcomed the figures, noting they reflect the resilience of the economy under Tinubu’s leadership.
“This latest NBS figure has again validated the viability of reforms across sectors under President Bola Tinubu,” Dare said in a statement on his X handle.
According to the NBS, the upturn was largely driven by stronger performances in the industry, agriculture, and services sectors, with additional momentum from the country’s recent GDP rebasing exercise.
The rebasing, which shifted Nigeria’s GDP base year from 2010 to 2019, expanded measurement to cover digital economy activities, creative industries, fintech, and informal markets. This adjustment not only increased nominal output but also improved the country’s debt sustainability indicators.
As a result, Nigeria’s public debt-to-GDP ratio dropped to 39.4 per cent in Q1 2025, even though the total public debt stood at ₦149.39 trillion as of March 31. This figure comprises ₦78.76 trillion in domestic borrowings and ₦70.63 trillion in external debt.
While the Q2 results are encouraging, economic analysts caution that sustaining momentum in subsequent quarters will be crucial to building investor confidence and securing long-term stability.
