Nigeria's Finance and Insurance Sector Grows 14.54% in 2025

According to the latest report from the National Bureau of Statistics (NBS) released on Friday, the finance and insurance sector in Nigeria recorded a growth rate of 14.54% in the fourth quarter of 2025. This marks a sharp increase from the 2.95% growth rate observed in the same sector post-2024.

The report highlights that financial institutions accounted for 90.43% of the sector's output in Q4 2025, while the insurance subsector contributed 9.57%. The contribution of the finance and insurance sector to Nigeria's real GDP stood at 2.56% in Q4 2025, reflecting an increase of 0.10 percentage points compared to 2.46% in Q4 2024.

The real growth rate of the sector was noted at 8.30% in Q4 2025, which is 2.31 percentage points higher than the previous year's fourth quarter. Year-on-year, the finance and insurance sector grew by 26.58%, with financial institutions recording a growth rate of 26.15% and the insurance subsector achieving a stronger growth rate of 30.83%.

Overall, the sector's contribution to nominal GDP was 3.30% in 2025, up from 2.82% in 2024.