NIGERIA'S GDP GROWS 3.98 PERCENT IN Q3- NBS REPORTS

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Nigeria’s economy grew by 3.98 per cent in the third quarter of 2025, which is a small increase compared to the 3.86 per cent growth seen in the same period of 2024, as shown in the latest Gross Domestic Product report from the National Bureau of Statistics.

The report says, “Gross Domestic Product increased by 3.98 per cent (year-on-year) in real terms during the third quarter of 2025.
This growth rate is higher than the 3.86 per cent recorded in the third quarter of 2024.“

The quarterly report shows that different sectors of the economy had mixed results.
Agriculture and industry saw stronger real growth, while the services sector remained the biggest contributor to the total output.

The total GDP in real terms was N57.03 trillion in Q3 2025, which is an increase from N54.85 trillion in the same quarter of the previous year.

In nominal terms, output rose by 18.12 per cent year-on-year to N113.59tn, compared with N96.16tn in Q3 2024.

The services sector contributed the largest share at 53.02 per cent, followed by agriculture at 31.21 per cent.

The NBS noted that the economy had sustained moderate expansion despite lingering constraints, highlighting stronger activities in crop production, telecommunications, real estate, trade and financial services.

The report includes all 46 economic activities, divided into the oil and non–oil sectors.

The oil sector grew by 5.84 per cent in real terms, which is slightly higher than the 5.66 per cent growth in Q3 2024.

The average daily crude oil production increased to 1.64 million barrels from 1.47 million barrels a year earlier, but this was still less than the 1.68 million barrels produced in Q2 2025.

When comparing this quarter to the previous one, the oil sector saw a decrease of 5.53 per cent.
However, its share of real GDP increased a little, from 3.38 per cent to 3.44 per cent.

On the other hand, the non–oil sector grew by 3.91 per cent, which is better than both the 3.79 per cent growth in Q3 2024 and the 3.64 per cent growth in Q2 2025.

Agriculture grew by 3.79 per cent, which is a big improvement from the 2.55 per cent growth the year before.

Crop production is the main part of agricultural output, making up almost two-thirds of the sector’s total value.
The non–oil sector contributed 31.21 per cent to real GDP during this time.

Manufacturing growth slowed to 1.25 per cent in real terms, down slightly from 1.74 per cent in Q2 2025.

The sector’s share of real GDP fell to 7.62 per cent, compared with 7.82 per cent in the corresponding period of 2024.

Nominal growth was subdued at 3.45 per cent, far below the 13.83 per cent posted a year earlier.

Construction grew by 5.57 per cent in real terms, though this represented a modest decline from the 6.80 per cent posted in 2024. Its contribution to the economy edged up to 3.80 per cent.

Trade, which remains central to household consumption and retail activity, posted a real growth rate of 1.98 per cent, improving slightly from 1.69 per cent in Q3 2024. The sector accounted for 16.42 per cent of total output.

Information and communication services continued to outperform most major activities. Telecommunications and information services drove a real growth rate of 5.78 per cent for the broader ICT sector.

Despite a quarterly contraction, ICT contributed 9.10 per cent to real GDP, up from 8.95 per cent in the same period of 2024.