…In nominal terms, aggregate GDP stood at N113.59 trillion in Q3’25, up from N101.73 trillion in Q2’25, an improvement from N96.160 trillion in Q3 2024.
MON DEC 01 2025-theGBJournal| Nigeria’s economic output grew in Q3-2025, dragging third-quarter GDP growth 8bps higher than analysts’ estimate.
GDP growth was reported at 3.98% y/y in Q3-25, down from 4.23% y/y in Q2-25, but an improvement from 3.86% in the same period of 2024, according to figures released today by the National Bureau of Statistics (NBS), one of the major pieces of economic data to be released before the end of the year.
In nominal terms, aggregate GDP stood at N113.59 trillion in Q3’25, up from N101.73 trillion in Q2’25, an improvement from N96.160 trillion in Q3 2024.
The oil sector growth eased to 5.84% y/y in Q3-25 (Q2-25: +20.46% y/y), according to NBS, with crude oil production averaging 1.64mb/d in Q3-25, 11.6% y/y higher than in Q3-24 (1.47mb/d).
In addition, the oil sector contributed 3.44% to the total GDP (Q2-25: 4.05%) during the review period.
On the other hand, the non-oil sector expanded further by 3.91% y/y in Q3-25 (Q2-25: +3.64% y/y), while it contributed 96.56% to the total GDP (vs 95.95% in Q2-25).
Breaking it further, Agriculture GDP grew higher by 3.79% y/y (Q2-25: +2.82% y/y), Services GDP advanced by 4.15% y/y (Q2-25: +3.94% y/y), while Industries GDP grew slowly by 3.77% y/y (Q2-25: +7.46% y/y).
In terms of contribution, Services, Agriculture, and Industries accounted for 53.02%, 31.21%, and 15.77% of the overall GDP, respectively.
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