Nigeria's GDP Surges 4.23% on Oil Production Boost in Q2 2025

Nigeria's GDP increased by 4.23% due to a rise in oil production, hitting a four-year high in the second quarter of 2025. The country's average daily production of crude oil rose to million barrels per day, enabling Nigeria to meet OPEC quotas.

The GDP growth was attributed to the re-basing of the Gross Domestic Product using a 2019 base year. The report highlighted growth in the agriculture, industry, and services sectors, with the industry sector contributing significantly to the GDP.

This growth surpassed the figures recorded in the corresponding quarter of 2024, indicating positive economic momentum in Nigeria.