Nigeria's Economy Grows by 6.1% in Q2 2025, Inflation Rates Decline - NBS Report

Nigeria's economy saw a 6.1% growth in the second quarter of 2025, as reported by the National Bureau of Statistics (NBS). This growth marked the second consecutive year of positive economic expansion.

However, inflation rates have been on a downward trend, with a slight spike in March attributed to rising food, transportation, and hospitality costs. The Central Bank of Nigeria recently cut interest rates by 50 basis points to 27% to stimulate further economic growth.

The NBS highlighted the growth in the oil sector as a significant contributor to the overall economic expansion. This positive economic outlook is crucial for Nigeria's financial stability and development.