Nigeria’s Gross Domestic Product (GDP) has grown by 3.13% in real terms in the first quarter of 2025, according to the National Bureau of Statistics (NBS).
Gatekeepers News reports that the figure marks a significant improvement from the 2.27% growth recorded in Q1 2024.
The services sector continued to dominate economic output, growing by 4.33% year-on-year and contributing 57.50% to real GDP. Telecommunications and Information Services were standout performers, expanding by 7.40% in real terms and accounting for 10.59% of GDP.
The industry sector also recorded a year-on-year growth of 3.42% in Q1 2025, compared to 2.35% in Q1 2024. The manufacturing sector posted a real growth of 1.69%, led by sub-sectors such as Food, Beverage and Tobacco, Chemical and Pharmaceutical Products, and Cement.
According to the NBS report, “Gross Domestic Product (GDP) grew by 3.13% (year-on-year) in real terms in the first quarter of 2025. This growth rate is higher than the 2.27% recorded in the first quarter of 2024.”
The report highlights the continued resilience of the economy, driven by strong performances in the services and industry sectors. However, some sectors, such as Agriculture, still face challenges, growing marginally by 0.07% in real terms.
In nominal terms, GDP rose to N94.05 trillion in Q1 2025 from N79.51 trillion in Q1 2024, representing a year-on-year increase of 18.30%.
