Nigeria’s economic system grew by 3.98 per cent within the third quarter of 2025, extending its restoration streak regardless of structural headwinds, in accordance with the newest Gross Home Product figures launched by the Nationwide Bureau of Statistics.
The expansion fee marginally exceeded the three.86 p.c registered in the identical quarter of 2024, indicating a sustained improve throughout necessary industries.
The NBS famous that “Gross Home Product grew by 3.98 per cent (year-on-year) in actual phrases within the third quarter of 2025. This development fee is larger than the three.86 per cent recorded within the third quarter of 2024.”
The report confirmed that providers, agriculture and business had been the important thing engines of enlargement. Agriculture, which had struggled in current quarters, rebounded with a 3.79 per cent actual development fee—up from the two.55 per cent recorded in Q3 2024.
“Throughout the quarter underneath overview, agriculture grew by 3.79 per cent, an enchancment from the two.55 per cent recorded within the corresponding quarter of 2024,” the NBS acknowledged.
The providers sector, Nigeria’s largest contributor to GDP, strengthened its dominance, accounting for 53.02 per cent of actual output—up from 52.93 per cent a 12 months earlier. Telecommunications, finance, commerce and actual property led the momentum, cushioning declines in public administration and elements of the transport sector.
The business confirmed improved outcomes, rising by 3.77 p.c in precise phrases, a rise from 2.78 p.c within the Q3 of 2024.
Manufacturing, together with the availability of electrical energy, fuel, and water, fueled the features, regardless of ongoing weak spot in mining and quarrying
Nominal GDP surged to N113.59tn, an 18.12 per cent year-on-year rise from N96.16tn in Q3 2024. Analysts attribute the rise to each actual sector exercise and the impression of excessive value ranges.
The oil sector delivered a combined image. Common day by day crude oil production rose to 1.64 million barrels per day, up from 1.47 mbpd within the corresponding quarter of 2024 although barely beneath the 1.68 mbpd recorded in Q2 2025.
Actual oil-sector development stood at 5.84 per cent, edging above the 5.66 per cent recorded in the identical interval of 2024, however output contracted by 5.53 per cent quarter-on-quarter attributable to provide disruptions. Oil contributed 3.44 per cent to actual GDP, larger than 3.38 per cent a 12 months in the past however decrease than 4.05 per cent in Q2 2025.
The non-oil sector continued to anchor general efficiency, rising by 3.91 per cent in actual phrases, an enchancment on the three.79 per cent recorded in Q3 2024 and three.64 per cent in Q2 2025. Key actions driving the sector included agriculture, telecommunications, building, commerce, manufacturing and {financial} providers.
Although the overall outcomes had been optimistic, sure areas confronted challenges. Mining and Quarrying confirmed a extreme nominal fall of 41.08 per cent year-on-year, indicating continued funding and production considerations.
Agriculture additionally posted modest nominal development of three.18 per cent as excessive enter prices and logistical bottlenecks weighed on efficiency, although crop production continued to dominate at 65.99 per cent of the sector’s nominal worth.
Manufacturing grew by 1.25 p.c in comparison with final 12 months, bettering 2024 figures however barely falling in need of its Q2 2025 development fee.
The Q3 efficiency follows a better 4.23 p.c enlargement in Q2 2025, indicating somewhat deceleration however showcasing the economic system’s resilience within the face of inflationary pressures, forex changes, and protracted oil sector uncertainty.
In the meantime, Nigeria’s public debt inventory elevated from N149.38 trillion (97.23 billion {dollars}) within the first quarter of 2025 to N152.39 trillion (99.65 billion {dollars}) within the second quarter of 2025.
The Nationwide Bureau of Statistics disclosed this in its Nigerian Home and Overseas Debt Report for Q2 2025, launched in Abuja on Monday.
In line with the report, Nigeria’s public debt inventory, which incorporates exterior and home money owed, grew by 2.01 per cent on a quarter-on-quarter foundation.
It stated exterior debt stood at N71.84 trillion (46.98 billion {dollars}), whereas home debt was N80.55 trillion (52.67 billion {dollars}) throughout the interval.
The bureau added that the share of exterior debt to whole public debt (in naira worth) stood at 47.14 per cent in Q2 2025, whereas the share of home debt was 52.86 per cent.
In a breakdown by states, the NBS stated Lagos State recorded the best home debt of N1.04 trillion in Q2 2025, adopted by Rivers State with N364.39 billion.
The report confirmed that Jigawa recorded the bottom home debt at N852.49 million, adopted by Ondo State at N10.64 billion.
In line with the NBS, Lagos State additionally recorded the best exterior debt in Q2 2025 with 1.04 billion {dollars}, adopted by Kaduna State with 658.70 million {dollars}.
“The Federal Capital Territory recorded the bottom exterior debt in Q2 2025 with 19.26 million {dollars},” the report stated.