Nigeria’s Gross Domestic Product (GDP) grew by 3.98%
year-on-year in real terms in the third quarter of 2025, according to new
data released on Monday by the National Bureau of Statistics (NBS). The latest
figure surpasses the 3.86% growth recorded in the same period of 2024.
In its Q3 2025 GDP report, the NBS highlighted notable
improvements across key sectors. Agriculture expanded by 3.79%, up from 2.55%
in Q3 2024, marking one of its strongest performances in recent quarters.
The industry sector also strengthened, recording 3.77%
growth, compared to 2.78% in the third quarter of the previous year.
The services sector, however, slowed slightly, growing by 4.15% in Q3
2025 — lower than the 4.97% posted in Q3 2024. Despite this dip,
services remained the largest contributor to the economy.
According to the NBS, the services sector accounted
for 53.02% of total GDP in the quarter, a marginal increase from 52.93%
in Q3 2024.
The bureau also reported that Nigeria’s aggregate GDP
at basic prices stood at ?113.58 trillion in nominal terms,
significantly higher than the ?96.16 trillion recorded in the same
quarter of 2024 — representing a year-on-year nominal growth of 18.12%.
The data comes as global financial institutions,
including the IMF, continue to urge Nigeria to intensify its reform efforts,
projecting the country’s real GDP growth to rise to 4.2% by 2026.
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