- Records sustained Expansion in Non-Oil Corridor
According to the latest data from the National Bureau of Statistics (NBS), Nigeria’s economy experienced another solid growth in the third quarter of 2025, with real Gross Domestic Product (GDP) growing by 3.98% year-on-year.
This represents a slight deceleration from the 4.23% recorded in Q2 2025 but remains above the 3.86% growth posted in Q3 2024.
This solid expansion was supported by strong performances in agriculture, trade, information and communications, financial and insurance services, and construction sectors.
The modest slowdown followed the rebasing of the national accounts to a 2019 base year and marks another strong quarterly performance since 2021.
Growth in Q3 2025 was supported by mild expansions in both the oil and non-oil sectors, with the oil segment emerging as a notable driver.
The oil sector grew 5.84% y/y in Q3 2025, up 0.18 points from Q3 2024, but fell 14.62% from Q2 2025 due to weaker crude output caused by a three-day strike and maintenance at key terminals.
Average production rose to 1.64 million barrels per day (from 1.47mbpd in Q3 2024), slightly below Q2’s 1.68mbpd, with the sector contributing 3.44% to GDP.
The non-oil sector expanded 3.91% y/y, driven by crop production, telecoms, real estate, financial services, trade, construction, and manufacturing.
It remained the dominant contributor to GDP at 96.56%, slightly below Q3 2024’s 96.62% but above Q2 2025’s 95.95%.
Sectoral performance remained positive across major economic classifications. Agriculture grew 3.79% y/y (up from 2.55% in Q3 2024), driven by crop production and seasonal harvests.
The industrial sector rose 3.77% (vs. 2.78% in Q3 2024), while services contributed 53.02% to GDP, growing 4.15% (slightly below 4.97% in Q3 2024).
ICT within services expanded 5.78%, raising its GDP share to 8.95%.
Real growth in the manufacturing sector stood at 1.25% y/y in Q3 2025, reflecting mild growth across 13 subsectors.
This was slightly higher than the same period in 2024 but 0.34 percentage points lower than the previous quarter.
On a quarterly basis, the sector recorded a strong 8.65% growth. Manufacturing contributed 7.62% to real GDP in Q3 2025, down from 7.82% in Q3 2024 and 7.81% in Q2 2025.
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