Nigeria’s Gross Domestic Product (GDP) grew by 3.98% in real terms in the third quarter of 2025, according to the latest GDP report released by the National Bureau of Statistics (NBS). This marks an improvement over the 3.86% growth recorded in the same quarter of 2024, although it reflects a slight decline from the 4.23% achieved in the second quarter of 2025.
The services sector remained the dominant contributor to GDP, accounting for 53.02% of total output in Q3 2025, up from 52.93% in Q3 2024.
Sectoral Performance
Agriculture expanded by 3.79%, a notable rise from 2.55% in Q3 2024.
Industry grew by 3.77%, improving from 2.78% recorded a year earlier.
Services increased by 4.15%, though this was lower than the 4.97% posted in Q3 2024.
In nominal terms, aggregate GDP stood at N113.59 trillion in Q3 2025, up from N96.16 trillion in Q3 2024—representing a year-on-year nominal growth of 18.22%.
Oil Sector
The oil sector recorded:
5.84% growth in Q3 2025 (up from 5.66% in Q3 2024)
A significant decline from the 20.46% growth posted in Q2 2025
Oil contributed 3.44% to total real GDP, slightly higher than 3.38% in Q3 2024 but lower than the 4.05% contribution in Q2 2025.
Average daily oil production rose to 1.64 million barrels per day (mbpd) in Q3 2025, compared with 1.47 mbpd in Q3 2024, but fell short of the 1.68 mbpd recorded in Q2 2025.
In September 2025, the NUPRC reported production of 1.58 mbpd, attributing the decline to a three-day industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), which disrupted operations at multiple production and export facilities. Scheduled maintenance at two major facilities also contributed to the reduction.
Non-Oil Sector
The non-oil sector accounted for 96.56% of real GDP in Q3 2025, slightly down from 96.62% in Q3 2024 but higher than the 95.95% recorded in Q2 2025. Key drivers included:
Agriculture (crop production)
Information and communication (telecommunications)
Real estate
Finance and insurance
Trade
Construction
Manufacturing
GDP Rebasing
The NBS also confirmed that GDP figures have been rebased to 2019, reflecting improved data accuracy and better alignment with current economic conditions. Previous quarterly estimates were benchmarked to the new series, resulting in an updated quarterly GDP dataset.