From Isaac Anumihe, Abuja
Gross Domestic Product (GDP) grew by 4.23 per cent (year-on-year) in real terms in the second quarter of 2025, higher than the 3.48 per cent recorded in the second quarter of 2024 and agriculture contributing 2.82 per cent.
In a document released by the National Bureau of Statistics (NBS), the growth of agriculture is an improvement from the 2.60 per cent recorded in the corresponding quarter of 2024.
The growth of the industry sector stood at 7.45 per cent from 3.72 per cent recorded in the second quarter of 2024, while the services sector recorded a growth of 3.94 per cent from 3.83 per cent in the same quarter of 2024.
In terms of share of the GDP, the Industry sector contributed more to the aggregate GDP in the second quarter of 2025 at 17.31 per cent compared to the corresponding quarter of 2024 at 16.79 per cent.
“In the quarter under review, aggregate GDP at basic price stood at N100,730,501.10 million in nominal terms. This performance is higher when compared to the second quarter of 2024, which recorded an aggregate GDP of N84,484,878.46 million, indicating a year-on-year nominal growth of 19.23 per cent. For better clarity, the Nigerian economy has been classified broadly into the oil and non-oil sectors” NBS said
While the oil sector in the second quarter of 2025 recorded an average daily oil production of 1.68 million barrels per day (mbpd), higher than the daily average production of 1.41 mbpd recorded in the same quarter of 2024 by 0.27 mbpd and higher than the first quarter of 2025 production volume of 1.62 mbpd by 0.06mbpd.
The real growth of the oil sector was 20.46 (year-on-year) in Q2 2025, indicating an increase of 10.38 per cent points relative to the rate recorded in the corresponding quarter of 2024 (10.08 per cent). Growth increased by 18.59 per cent points when compared to Q1 2025, which was 1.87 per cent. On a quarter-on-quarter basis, the oil sector recorded a growth rate of 6.01 per cent in Q2 2025.
“The oil sector contributed 4.05 per cent to the total real GDP in Q2 2025, up from the figure recorded in the corresponding period of 2024 at 3.51 per cent.
Similarly, the non-oil sector grew by 3.64 per cent in real terms during the reference quarter (Q2 2025).
“This rate was higher by 0.38 per cent points compared to the rate recorded in the same quarter of 2024, which was 3.26 per cent and higher than the 3.19 per cent recorded in the first quarter of 2025. This sector was driven in the second quarter of 2025 mainly by agriculture (crop production); information and communication
(telecommunications); real estate; financial and insurance (financial institutions); trade; construction; and electricity, gas, steam & air conditioning supply, accounting for positive GDP
growth.
In real terms, the non-oil sector contributed 95.95 per cent to the nation’s GDP in the second quarter of 2025, lower than the share recorded in the second quarter of 2024, which was 96.49 per cent and lower than the first quarter of 2025 recorded as 96.03 per cent” the bureau, said.
Meanwhile, the mining & quarrying sector consists of crude petroleum and natural gas, coal mining, metal ores and quarrying, and other minerals sub-activities. This sector grew nominally by 4.61 per cent (year-on-year) in Q2 2025.
Quarrying and other minerals activities exhibited the highest growth rate of all the sub-activities at 50.41 per cent, followed by coal mining activity at 32.59 per cent. Crude petroleum and natural gas was the main contributor to
the sector with a weight of 93.90 per cent in Q2 2025. Comparing Q2 2025’s rate of growth relative to Q2 2024 and Q1 2025 growth rates, there was an increase of 14.55 per cent points and an increase of 9.94 per cent points respectively.
“The mining & quarrying sector contributed 2.98 per cent to the overall GDP in the second quarter of 2025, lower than the contributions recorded in 2024 second quarter at 3.40 per cent and lower than the previous quarter at 4.38 per cent.
In real terms, the mining and quarrying sector grew by 20.86 per cent (year-on-year) in the second quarter of 2025. Compared to the same quarter of 2024 and the first quarter of 2025, it was higher by 13.35 per cent points and higher by 17.89 per cent points respectively. Quarter-on-quarter, the growth rate recorded was 3.92 per cent during
the quarter. The contribution of mining and quarrying to Real GDP in the quarter under review stood at 4.23 per cent, higher than the rate of 3.64 per recorded in the corresponding quarter of 2024 and higher than the 4.22 per cent recorded in the first quarter of 2025” NBS stated.
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