Korede Abdullah 
LAGOS, Nigeria – Nigeria’s economy strengthened in the second quarter of 2025, with real Gross Domestic Product (GDP) expanding by 4.23% year-on-year, according to figures released by the National Bureau of Statistics (NBS) on Monday.
The growth rate outperformed the 3.48% recorded in Q2 2024 and the 3.13% posted in the first quarter of 2025, signalling a rebound in both oil and non-oil activities.
The NBS attributed the stronger performance to the recent rebasing of the economy, recovery in crude oil output, and resilience in the services and agriculture sectors.
“Following the rebasing of the Gross Domestic Product using 2019 as the base year, previous quarterly estimates were benchmarked to align with the new series,” the bureau explained.
Industry recorded the sharpest expansion at 7.45%, nearly doubling the 3.72% growth of the same period last year. Agriculture also strengthened, rising 2.82% from 2.60% in Q2 2024, while services, the largest contributor to GDP, grew 3.94% compared to 3.83% in the previous year.
In terms of composition, industry accounted for 17.31% of aggregate output, up from 16.79% a year earlier.
The report further noted that nominal GDP at basic prices surged to ₦100.73 trillion, compared with ₦84.48 trillion in Q2 2024, representing nominal growth of 19.23%.
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