Nigeria’s economy expanded by 3.98% in the third quarter of 2025, the National Bureau of Statistics (NBS) has reported, showing a modest improvement from the 3.86% growth recorded in the same period of 2024.
Real GDP reached ₦57.03 trillion, up from ₦54.85 trillion in Q3 2024, highlighting a generally positive recovery across key sectors despite uneven growth. The services sector remained the largest contributor, accounting for 53.02% of output, followed by agriculture at 31.21%. Crop production, telecommunications, real estate, trade, and financial services were identified as the main drivers of growth.
The non-oil sector continued to lead economic expansion, growing by 3.91%, surpassing both Q3 2024 (3.79%) and Q2 2025 (3.64%). Agricultural output, particularly crop farming, increased by 3.79%, while the ICT sector posted a strong 5.78% growth, raising its contribution to real GDP to 9.10%. Financial and Insurance Services also recorded impressive growth at 19.63%.
In contrast, the manufacturing sector slowed to 1.25% growth from 1.74% in the previous quarter. The oil sector saw a slight increase to 5.84%, supported by a rise in crude oil production to 1.64 million barrels per day, up from 1.47 million barrels per day in Q3 2024. However, oil’s overall contribution to GDP remained modest at 3.44%.
Statistician-General of the Federation, Prince Adeyemi Adeniran, noted that while most sectors sustained positive momentum, growth remains uneven, with strong performances in ICT, finance, agriculture, and trade stabilizing overall output.
The report aligns with the International Monetary Fund’s (IMF) revised projection for Nigeria in 2025, which in October upgraded the growth forecast to 3.9%, citing higher oil production, stronger investor confidence, and a supportive fiscal environment as key factors.