Nigeria's Economy Surges to 4-Year High in Q2 2025 - NBS Report

Nigeria's economy experienced a significant growth spurt, hitting a 4-year high in the second quarter of 2025, as reported by the National Bureau of Statistics (NBS). The real Gross Domestic Product (GDP) increased by 0.5 points from the first quarter of 2025, with 10 sectors leading the growth.

The agriculture sector showed improvement compared to the same period in 2024, while the services sector also recorded growth. Notably, the economy was driven by a 20% surge in the second quarter of 2025, attributed to increased crude oil production.

Despite this growth, the direct contribution of sectors to the GDP remained modest. The NBS used a new base year of 2019 for its estimates, providing a benchmark for the rebase analysis.