Nigeria’s economy grew by 3.98 percent in the third quarter (Q3) of 2025, according to the latest Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS).
The bureau said the year-on-year real GDP growth marks an improvement over the 3.86 percent recorded in Q3 2024.
“Following the rebasing of the Gross Domestic Product using 2019 as the base year, previous quarterly GDP estimates were benchmarked to the rebased annual estimates to align the old series with the new rebased estimates,” the report stated.
“This procedure provided a new quarterly GDP series, which is compared to the 2025 third quarter estimates. Gross Domestic Product (GDP) grew by 3.98% (year-on-year) in real terms in the third quarter of 2025. This growth rate is higher than the 3.86% recorded in the third quarter of 2024.”
Sector Performance
The NBS said the agriculture sector expanded by 3.79 percent in Q3 2025, up from 2.55 percent in the same quarter of 2024.
Industry grew by 3.77 percent, compared to 2.78 percent last year, while the services sector recorded a growth rate of 4.15 percent, slightly below the 4.97 percent posted in Q3 2024.
“In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the third quarter of 2025 at 53.02% compared to the corresponding quarter of 2024 at 52.93%,” the bureau said.
The report pegged Nigeria’s aggregate nominal GDP at N113.58 trillion, higher than the N96.16 trillion recorded in Q3 2024. This represents a year-on-year nominal growth rate of 18.12 percent.
Oil Sector Outlook
The country averaged 1.64 million barrels per day (mbpd) in crude oil production during the quarter.
“This is higher than the daily average production of 1.47 mbpd recorded in the same quarter of 2024 by 0.17 mbpd and lower than the second quarter of 2025 production volume of 1.68 mbpd by 0.04mbpd,” the NBS said.
According to the bureau, the oil sector contributed 5.84 percent to total real GDP in Q3 2025 — up from 5.66 percent in Q3 2024, but significantly below its contribution in Q2 2025 at 20.46 percent.
“The real growth of the oil sector was 5.84 (year-on-year) in Q3 2025, indicating an increase of 0.18% points relative to the rate recorded in the corresponding quarter of 2024 (5.66%),” the report stated.
“Growth decreased by 14.62% points when compared to Q2 2025, which was 20.46%. On a quarter-on-quarter basis, the oil sector recorded a growth rate of -5.53% in Q3 2025.”
Non-Oil Sector Growth
The NBS reported that the non-oil sector grew by 3.91 percent in real terms, higher than the 3.79 percent recorded in Q3 2024 and above the 3.64 percent achieved in Q2 2025.
“This sector was driven in the third quarter of 2025 mainly by Agriculture (Crop production); Information and Communication (Telecommunications); Real Estate; Financial and Insurance (Financial Institutions); Trade; Construction; and Manufacturing, accounting for positive GDP growth,” the bureau said.
In real terms, the non-oil sector contributed 96.56 percent to GDP in Q3 2025 — slightly below the 96.62 percent recorded in Q3 2024, but higher than the 95.95 percent share posted in the previous quarter.
