Q3 GDP, 2025, grew by 3.98%, says NBS

From Isaac Anumihe, Abuja

National Bureau of Statistics (NBS), has said that the Gross Domestic Product (GDP) grew by 3.98 per cent (year-on-year) in real terms in the third quarter of 2025.

According to a document released by NBS, the bureau noted that the growth rate is higher than the 3.86 per cent recorded in the third quarter of 2024. During the quarter under review, agriculture grew by 3.79 per cent, an improvement from the 2.55 per cent recorded in the corresponding quarter of 2024. The growth of the industry sector stood at 3.77 per cent from 2.78 per cent recorded in the third quarter of 2024, while the services sector recorded a growth of 4.15 per cent from 4.97 per cent in the same quarter of 2024. In terms of share of the GDP, the services sector contributed
more to the aggregate GDP in the third quarter of 2025 at 53.02 per cent compared to the corresponding quarter of 2024 at 52.93 per cent.
According to NBS, in the quarter under review, aggregate GDP at basic price stood at N113,587,291.77 million in
nominal terms.

“This performance is higher when compared to the third quarter of 2024, which recorded an aggregate GDP of N96,160,479.86 million, indicating a year-on-year nominal growth of 18.12 per cent. For better clarity, the Nigerian economy has been classified broadly into the oil and non-oil sectors” it said.
For the oil sector, the third quarter of 2025 recorded an average daily oil production of 1.64 million barrels per day (mbpd), higher than the daily average production of 1.47 mbpd recorded in the same quarter of 2024 by 0.17 mbpd and lower than the second quarter of 2025 production volume of 1.68 mbpd by 0.04mbpd.
“The real growth of the oil sector was 5.84 (year-on-year) in Q3 2025, indicating an increase of 0.18 per cent points relative to the rate recorded in the corresponding quarter of 2024 (5.66 per cent). Growth decreased by 14.62 per cent points when compared to Q2 2025, which was 20.46 per cent. On a quarter-on-quarter basis, the
oil sector recorded a growth rate of -5.53 per cent in Q3 2025. The oil sector contributed 3.44 per cent to the total real GDP in Q3 2025, up from the figure recorded in the corresponding period of 2024 at 3.38 per cent . and
down from the preceding quarter, where it contributed 4.05 per cent” the bureau explained.

However, the non-oil sector grew by 3.91 per cent in real terms during the reference quarter (Q3 2025). This rate, it said, was higher by 0.11 per cent points compared to the rate recorded in the same quarter of 2024, which was 3.79 per cent
and higher than the 3.64 per cent recorded in the second quarter of 2025.

This sector, NBS explained, was driven in the third quarter of 2025 mainly by agriculture (crop production); information and communication
(telecommunications); real estate; financial and insurance (financial institutions); trade;
construction; and manufacturing, accounting for positive GDP growth.
In real terms, the non-oil sector contributed 96.56 per cent to the nation’s GDP in the third quarter of 2025, lower than the share recorded in the third quarter of 2024, which was 96.62 per cent and higher than the second quarter of 2025 recorded as 95.95 per cent .
ENDS