…Industry sector leads expansion
By Elizabeth Adegbesan
The National Bureau of Statistics (NBS) has announced that Nigeria’s Gross Domestic Product (GDP) grew by 4.23 percent in the second quarter of 2025 (Q2’25), marking a stronger performance compared to previous quarters.
The growth represents a 1.1 percentage point increase quarter-on-quarter from the 3.13 percent posted in Q1’25, and an improvement over the 3.48 percent recorded in Q2’24.
According to the NBS GDP report released on Monday, the new figures follow a rebasing of the national accounts using 2019 as the base year, aligning previous quarterly estimates with the rebased annual series.
The report showed that: Agriculture grew by 2.82 percent, up from 2.60 percent in Q2’24.
Industry recorded the strongest expansion, growing by 7.45 percent compared with 3.72 percent in Q2’24.
Services grew by 3.94 percent, slightly higher than 3.83 percent in the same quarter of 2024.
In terms of contribution to GDP, the Industry sector accounted for 17.31 percent in Q2’25, compared with 16.79 percent in Q2’24.
The report also revealed that the oil sector contributed 4.05 percent to GDP during the quarter, while the non-oil sector maintained dominance with 95.95 percent.
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