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
Real GDP growth: 3.98% (Q3 2025)
Slight increase from 3.86% (Q3 2024)
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:
3.79% growth in real terms, up from 2.55% in Q3 2024
Nominal sector growth: 3.18%, though 14.87 percentage points lower year-on-year
Crop production dominated the sector, accounting for 65.99% of total agriculture output
Industry Sector
The industry sector expanded by:
3.77% in real terms, up from 2.78% in Q3 2024
Services Sector
The services sector remained Nigeria’s largest contributor:
Real growth: 4.15% (slightly lower than 4.97% in Q3 2024)
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:
1.64 million barrels per day (mbpd) in Q3 2025
Higher than 1.47 mbpd in Q3 2024
Slightly below 1.68 mbpd in Q2 2025
Oil sector performance:
Real growth: 5.84%, marginally higher than 5.66% in Q3 2024
Sharp decline compared to 20.46% in Q2 2025
Quarter-on-quarter contraction: 5.53%
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:
3.91% growth in real terms
Higher than 3.79% (Q3 2024) and 3.64% (Q2 2025)
Key drivers:
Agriculture
Telecommunications
Trade
Real estate
Financial institutions
Construction
Manufacturing
Non-oil GDP share:
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:
Grew 1.25% year-on-year, improving on Q3 2024
Slight decline of 0.34 percentage points compared to Q2 2025
Context: Previous Quarter (Q2 2025)
In Q2 2025, the NBS reported:
4.23% real GDP growth, higher than 3.48% in Q2 2024
Nominal GDP: N100.73 trillion, compared to N84.48 trillion—a 19.23% year-on-year increase
