The Nigerian economy maintained a steady growth trajectory in the third quarter of 2025, according to official data released by the statistics bureau.
Key Figures from the NBS Report
The National Bureau of Statistics (NBS) announced on Monday, 1st December 2025, that the nation's Gross Domestic Product (GDP) grew by 3.98 per cent in real terms year-on-year. This performance marks an improvement when compared to the 3.86 per cent growth recorded in the same quarter of the previous year, 2024.
However, a quarter-on-quarter analysis shows a slight moderation. The growth rate declined from 4.23 per cent in the second quarter of 2025 to the 3.98 per cent recorded in Q3. In monetary terms, the real GDP value increased to N57.03 trillion from N54.85 trillion a year earlier.
A significant highlight is the surge in nominal GDP, which jumped by 18.12 per cent to N113.59 trillion. This substantial increase reflects the combined effects of higher price levels and continued expansion across various sectors of the economy.
Sectoral Performance: Services and Agriculture Dominate
The structure of the economy's growth reveals familiar leaders. The services sector solidified its position as the primary engine, contributing 53.02 per cent to the total real GDP. Agriculture followed as a strong second pillar, accounting for 31.21 per cent of output, with robust crop production being a major driver.
Within the services sector, Information and Communication Technology (ICT) was a standout performer, expanding by 5.78 per cent. This growth pushed its contribution to the overall economy to 9.10 per cent. The trade sector also posted a positive growth of 1.98 per cent.
Other notable sectoral performances include:
- Oil Sector: Growth improved slightly to 5.84%, supported by an average daily crude production of 1.64 million barrels, up from 1.47 million barrels per day in Q3 2024. Its contribution to total GDP stood at 3.44%.
- Construction: Grew by a healthy 5.57 per cent.
- Real Estate: Recorded a real growth of 3.50 per cent, alongside a dramatic 89 per cent surge in nominal terms.
- Manufacturing: Growth slowed to 1.25 per cent.
- Education and Health: Posted modest gains of 2.51 per cent and 2.89 per cent respectively.
The Non-Oil Sector Remains the Growth Anchor
A critical takeaway from the report is the sustained dominance of the non-oil sector. It grew by 3.91 per cent in real terms during the quarter. This rate not only outperformed its own performance in the third quarter of 2024 but also exceeded its growth in the immediate preceding quarter (Q2 2025). This consistent performance underscores its role as the fundamental anchor for national economic growth, reducing reliance on hydrocarbon revenues.
Commenting on the results, the Statistician-General of the Federation, Prince Adeyemi Adeniran, attributed the recorded growth to improvements in data quality and a broad-based performance across multiple sectors. The data suggests an economy that is gradually diversifying, with ICT, financial services, and real estate joining traditional leaders like agriculture to drive expansion.
