BY NKECHI NAECHE-ESEZOBOR-National Bureau of Statistics (NBS), on Monday said Gross Domestic Product grew by 3.98% (YoY) in real terms in Q3 2025, This growth rate according to NBS is higher than the 3.86% recorded in Q3 2024.
This is according to fresh data released by the NBS.
The NBS reported wide-ranging progress, emphasizing improvements across several critical sectors of the economy.: 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. During the quarter under review, agriculture grew by 3.79%, an improvement from the 2.55% recorded in the corresponding quarter of 2024.
“The growth of the Industry sector stood at 3.77% from 2.78% recorded in the third quarter of 2024, while the Services sector recorded a growth of 4.15% from 4.97% 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% compared to the corresponding quarter of 2024 at 52.93%,” NBS stated.
It noted that “oil sector 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 non-oil sector grew by 3.91% in real terms during the reference quarter (Q3 2025). This rate was higher by 0.11% points compared to the rate recorded in the same quarter of 2024, which was 3.79% and higher than the 3.64% recorded in the second quarter of 2025.”
“This sector was driven in the third quarter of 2025 mainly by Agriculture (Crop production); Information and Communication (Telecommunications); Real Estate; Financial and Insurance (Financial Institutions); Trade; Construction; and Manufacturing, accounting for positive GDP growth.
