The Nigerian economy showed a significant surge in growth between April and June 2025, with the Gross Domestic Product (GDP) increasing by 4.23% year-on-year, according to the latest data released by the National Bureau of Statistics (NBS).
The new growth figure, outlined in the Q2 2025 GDP Report, marks a notable acceleration from the 3.48% growth recorded in the same period last year, indicating a strengthening economic performance.
A key driver of this improved growth was a powerful rebound in the industrial sector, which expanded by 7.45%. This is a dramatic increase from the 3.72% growth it posted in the second quarter of 2024. Consequently, the industry sector’s contribution to the overall GDP also rose to 17.31%, up from 16.79% a year earlier.
The services sector, a major component of the economy, also saw a slight improvement, growing at 3.94% compared to 3.83% in Q2 2024. Agriculture, which employs a large portion of the population, recorded a growth of 2.82%, up from 2.60% in the corresponding quarter of the previous year.
This latest GDP data will be welcomed by policymakers and investors as a positive signal of economic resilience. The full detailed report is available on the official website of the National Bureau of Statistics.
Details shortly..
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