GDP
By Olamilekan Abayomi
Nigeria’s economy just got a nice boost: the National Bureau of Statistics announced that real GDP grew by 3.98 % year‑on‑year in the third quarter of 2025, a shade higher than the 3.86 % recorded in Q3 2024 The figure comes after a mid‑year rebasing exercise in July that aimed to capture the structural shifts in Africa’s biggest economy.
The growth isn’t a one‑off flash; it follows a solid 4.23 % expansion in Q2 and a still‑respectable 3.13 % in Q1, showing a steady upward trajectory after the pandemic dip ¹. That momentum has caught the eye of analysts who see a gradual but consistent recovery.
In nominal terms, the economy is looking even bigger. GDP hit N113.587 trillion in Q3, up 18.12 % from N96.160 trillion a year earlier, underscoring the sheer size of the market despite the modest real‑growth numbers.
Sector‑wise, agriculture led the charge with a 3.79 % rise—far better than the 2.55 % it posted in Q3 2024. Industry followed closely at 3.77 % (up from 2.78 %), while services grew 4.15 % though that’s a dip from the 4.97 % seen a year ago.
The oil sector also posted gains, averaging 1.64 million barrels per day, a jump from 1.47 mbpd in the same quarter last year. Still, the non‑oil segment remains the backbone, accounting for 96.56 % of GDP, a slight edge over the 96.62 % share a year earlier.
All in all, the numbers paint a picture of an economy that’s back on track, buoyed by stronger farm output, a revived industrial base, and a services sector that’s still pulling its weight. If the trend holds, Nigeria could see more of the same steady growth through the rest of the year, though analysts will be watching oil prices and the ongoing security challenges in the Niger Delta.
