Abuja: Nigeria’s Gross Domestic Product (GDP) rate in real terms grew by 3.98 per cent in the third quarter of 2025 on a year-on-year basis, according to the National Bureau of Statistics (NBS). This growth rate, documented in the Nigerian Gross Domestic Product Report Q3 2025 released in Abuja, surpassed the 3.86 per cent recorded in the third quarter of 2024 but was slightly lower than the 4.23 per cent growth in the second quarter of 2025.
According to News Agency of Nigeria, the report highlighted that the Agriculture sector experienced a growth of 3.79 per cent in Q3 2025, up from 2.55 per cent in the same period in 2024. The Industry sector also saw an improvement, with a growth rate of 3.77 per cent compared to 2.78 per cent in the previous year. Conversely, the Services sector recorded a growth rate of 4.15 per cent, which was a decrease from the 4.97 per cent seen in Q3 2024.
In terms of GDP composition, the services sector was the largest contributor in Q3 2025, accounting for 53.02 per cent of the aggregate GDP, slightly up from 52.93 per cent in Q3 2024. The aggregate GDP at basic price in nominal terms was N113.59 trillion in Q3 2025, a significant increase from N96.160 trillion in the third quarter of 2024, indicating a nominal growth of 18.22 per cent year-on-year.
The oil sector’s growth rate was recorded at 5.84 per cent in Q3 2025 on a year-on-year basis, a marginal increase from 5.66 per cent in Q3 2024. However, there was a notable decrease of 14.62 per cent points compared to 20.46 per cent growth in Q2 2025. The oil sector’s contribution to the total real GDP was 3.44 per cent in Q3 2025, an increase from Q3 2024’s 3.38 per cent but a decline from Q2 2025’s 4.05 per cent.
Q3 2025 saw an average daily oil production of 1.64 million barrels per day (mbpd), which was an increase of 0.17 mbpd compared to 1.47 mbpd in Q3 2024 but a decrease of 0.04 mbpd from the 1.68 mbpd recorded in Q2 2025. The News Agency of Nigeria recalls that a drop in crude oil production to 1.58 mbpd in September 2025 was attributed to a three-day industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and scheduled maintenance at two major production facilities.
The non-oil sector contributed 96.56 per cent to the GDP in Q3 2025 in real terms, showing a slight decrease from 96.62 per cent in Q3 2024 but an increase from 95.95 per cent in Q2 2025. The NBS reported that the non-oil sector’s growth was driven by agriculture, information and communication, real estate, finance and insurance, trade, construction, and manufacturing.
NAN reports that the NBS rebased the GDP using 2019 as the base year to reflect the domestic economy’s stability. The NBS stated that previous quarterly GDP estimates were aligned with the new rebased estimates, providing a new quarterly GDP series compared to the third-quarter estimates of 2025.