Nigeria records 3.98% GDP growth in Q3’25

•As non-oil sector contributes 96%

By Elizabeth Adegbesan

Nigeria has recorded growth  at 3.98% in its Gross Domestic Year-on-Year (YoY).

It went up significantly to 4.23% in the second quarter of 2025 (Q2’25) and now reversing to 3.98% in Q3’25.

On Quarter-on-Quarter (Q-o-Q) reversal in economic growth rate, the National Bureau of Statistics, NBS, yesterday, put the country’s Gross Domestic Product, GDP, at 3.98 percent for the third quarter of 2025 (Q3’25), a significant pull back from the 4.23 percent recorded in the preceding quarter, Q2’25.

With this development economic growth has now officially recorded as unstable in the past one year, measured QoQ.

The GDP rose to 3.86% in third quarter of 2024 (Q3’24) and declined for two consecutive quarters, recording 3.76% in the fourth quarter of 2024 (Q4’24) and down again to 3.13% in the first quarter of 2025 (Q1’25).

NBS, in its GDP report for Q3’25, stated: “Gross Domestic Product (GDP) grew by 3.98 percent (year-on-year) in real terms in the third quarter of 2025.

“This growth rate is higher than the 3.86% recorded in the third quarter of 2024.

“During the quarter under review, agriculture grew by 3.79 percent, an improvement from the 2.55 percent recorded in the corresponding quarter of 2024.

“The growth of the Industry sector stood at 3.77 percent from 2.78 percent recorded in the third quarter of 2024, while th Services sector recorded a growth of 4.15 percent from 4.97 percent 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 percent compared to the corresponding quarter of 2024 at 52.93 percent.”

According to the report, the economy, in Q3’25, 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 percent points relative to the rate recorded in the corresponding quarter of 2024 (5.66 percent).

“Growth decreased by 14.62 percent points when compared to Q2’25, which was 20.46 percent.

“On a quarter-on-quarter basis, the oil sector recorded a growth rate of -5.53 percent in Q3’25.

“The Oil sector contributed 3.44 percent to the total real GDP in Q3’25, up from the figure recorded in the corresponding period of 2024 at 3.38 percent. And down from the preceding quarter, where it contributed 4.05 percent.”

On non-oil sector contributions, NBS said: “The non-oil sector grew by 3.91 percent in real terms during the reference quarter (Q3’25).

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