Nigeria's GDP Grows by 4.23% in Q2 2025, Oil Sector Boosts Growth

Nigeria's Gross Domestic Product (GDP) expanded by 4.23% in the second quarter of 2025, driven by increased oil output. The National Bureau of Statistics (NBS) reported that the GDP growth in real terms was stronger compared to the same period in 2024.

The oil sector played a significant role in this growth, with average daily crude oil production rising to 2 million barrels per day. The mining and quarrying sector, including activities like coal mining and metal ore quarrying, also showed strong growth.

Despite the oil sector's dominance, other sectors like agriculture continued to contribute to the GDP growth, indicating a diversified economic performance.