NBS Report: Agriculture, Industry Lift Nigeria’s Economy To 3.98% Growth In Third Quarter Of 2025

Nigeria’s Gross Domestic Product (GDP) expanded by 3.98 percent in real terms during the third quarter of 2025 (July to September), marking a modest improvement over the 3.86 percent growth recorded in the same period of 2024. The latest figure, released by the National Bureau of Statistics (NBS), reflects broad-based gains across key sectors, although challenges persist in oil production and mining.

The Services sector continued to dominate, contributing 53.02 percent to the overall GDP, up slightly from 52.93 percent a year earlier, while recording 4.15 percent growth, lower than the 4.97 percent posted in Q3 2024. The Industry sector rebounded to 3.77 percent growth, compared to 2.78 percent last year, and Agriculture improved to 3.79 percent from 2.55 percent.

Aggregate nominal GDP rose to N113.59 trillion in Q3 2025, representing an 18.12 percent year-on-year increase from N96.16 trillion in Q3 2024.

The table below highlights real year-on-year growth rates for major sectors in Q3 2025 versus Q3 2024:

pp means percentage points. Source: NBS Q3 2025 GDP Report

Nigeria’s oil production averaged 1.64 million barrels per day (mbpd) in Q3, up from 1.47 mbpd in Q3 2024 but lower than the 1.68 mbpd recorded in Q2 2025. Real growth in the oil sector reached 5.84 percent, slightly above last year’s 5.66 percent. However, the sector contracted by 5.53 percent quarter-on-quarter after recording a strong 20.46 percent expansion in Q2. Its contribution to real GDP rose to 3.44 percent from 3.38 percent year-on-year, although it fell from 4.05 percent in the preceding quarter.

In contrast, the Mining and Quarrying sector, which includes crude petroleum, recorded a steep nominal contraction of 41.08 percent year-on-year.

The non-oil sector, which accounts for 96.56 percent of real GDP, grew by 3.91 percent, outperforming both Q3 2024 at 3.79 percent and Q2 2025 at 3.64 percent. Key contributors included:

• Agriculture: Nominal growth of 3.18 percent, down 14.87 percentage points from Q3 2024 but up 1.34 percentage points from Q2 2025. Crop production dominated, accounting for 65.99 percent of the sector’s value.
• Manufacturing: Year-on-year growth of 1.25 percent, an improvement over Q3 2024 but slightly lower by 0.34 percentage points compared to Q2 2025.
• Other notable drivers included Telecommunications, Real Estate, Financial Institutions, Trade and Construction.

For comparison, Nigeria’s GDP grew by 4.23 percent in real terms in Q2 2025, higher than the 3.48 percent recorded in Q2 2024. Nominal GDP in Q2 2025 stood at N100.73 trillion, representing a 19.23 percent increase year-on-year from N84.48 trillion.

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