…Slower In Real Terms Than 4.23% Growth In Q2
Nigeria’s Gross Domestic Product (GDP) grew by 3.98% year-on-year in real terms in the third quarter of 2025, marking a slight improvement over the 3.86% recorded in the corresponding quarter of last year, the National Bureau of Statistics (NBS) reported today.
In its latest ‘Gross Domestic Product Q3 2025’ report hoisted on its website, the statistics agency disclosed that “Gross Domestic Product (GDP) grew by 3.98% (year-on-year) in real terms in the third quarter of 2025.
According to the Bureau, during the quarter under review, agriculture grew by 3.79%, representing an improvement from the 2.55% recorded in the corresponding quarter of 2024 while the Industry sector’s growth stood at 3.77%, from 2.78% recorded in the third quarter of last year just as the Services sector recorded a growth of 4.15% from 4.97% in the same quarter of 2024.
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It further reported that in terms of share of the GDP, the services sector contributed more to the aggregate GDP in the third quarter under review at 53.02%, slightly higher than the 52.93% it contributed to the national GDP in the corresponding quarter of 2024.
The NBS further clarified: “Following the rebasing of the Gross Domestic Product using 2019 as the base year, previous quarterly GDP estimates were benchmarked to the rebased annual estimates to align the old series with the new rebased estimates.
“This procedure provided a new quarterly GDP series, which is compared to the 2025 third quarter estimates. Gross Domestic Product (GDP) grew by 3.98% (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”, it added.
Despite the improved performance of the economy year-on-year, the statistics agency reported that when analyzed on quarter-on-quarter basis, the Q3 2025 GDP growth was slower in real terms than the Q2, 2025 growth of 4.23%.
Also, some major highlights of the GDP growth report based on quarter-on-quarter sectoral performance revealed that Trade expanded by 1.98% in Q3’25, contributing 16.42% to total GDP; Industry contracted to 3.77% in Q3’25, up from 7.45% in Q2’25; Agriculture expanded to 3.79% in Q3’25, from 2.82% in Q2’25 even as the Service sector grew to 4.15% in Q3’25 from 3.94% in Q2’25
The NBS stated the aggregate GDP at basic price stood at N113.58 trillion in nominal terms, which was higher relative to the Q3 2024, which recorded an aggregate GDP of N96.16 trillion, indicating a year-on-year nominal growth of 18.12%.
