Oil Production Boosts Nigeria's GDP Share in Q2 2025
Nigeria's GDP composition witnessed a slight shift in the second quarter of 2025, with higher oil production marginally reducing the non-oil sector's share to 95.95%. The oil sector experienced a notable rebound, leading to an increase in its contribution to the real GDP.
Despite ongoing diversification efforts, the oil industry's performance remains crucial to Nigeria's economic structure. The National Bureau of Statistics reported an uptick in average daily crude oil production, impacting the sector's growth rate positively.
This development underscores the continued significance of the oil sector in Nigeria's economic landscape, despite efforts to promote diversification and growth in other sectors.
Plus234Feed summary based on reporting from NairaMetrics. Read the original report below.
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