Nigeria’s economy expanded by 3.98% in the third quarter of 2025, according to the latest GDP report released on Monday by the National Bureau of Statistics (NBS).
The figure reflects a slight uptick from the 3.86% recorded in Q3 2024. Aggregate real GDP rose to ₦57.03 trillion, up from ₦54.85 trillion in the same period last year, indicating a generally positive—but uneven—recovery across sectors.
The Services sector remained the dominant contributor to total output at 53.02%, followed by Agriculture, which accounted for 31.21%. Growth was supported by key activities such as crop production, telecommunications, real estate, trade, and financial services.
The non-oil sector continued to power overall economic performance, expanding by 3.91%, ahead of growth recorded in Q3 2024 (3.79%) and Q2 2025 (3.64%). Agriculture grew by 3.79%, led by increased crop production.
The ICT sector delivered a strong real growth rate of 5.78%, with its contribution to real GDP climbing to 9.10%. Financial and insurance services posted one of the quarter’s most remarkable numbers, growing by 19.63% in real terms.
However, growth in the manufacturing sector slowed to 1.25%, down from 1.74% in the previous quarter.
The oil sector recorded real growth of 5.84%, slightly above the 5.66% posted in Q3 2024. The increase was supported by higher average crude oil production, which rose to 1.64 million barrels per day (mbpd) from 1.47 mbpd a year earlier. Despite this improvement, the sector’s share of real GDP remains relatively small at 3.44%.
Statistician-General of the Federation, Prince Adeyemi Adeniran, noted that while many sectors maintained momentum, overall growth is still uneven. He highlighted strong performances in ICT, finance, agriculture, and trade as stabilizing forces for the economy.
The new data aligns with the IMF’s October 2025 forecast, which revised Nigeria’s growth outlook upward to 3.9%, citing improved oil output, rising investor confidence, and supportive fiscal policies.
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