July 21, 2025
Nigeria’s Gross Domestic Product (GDP) recorded a growth rate of 3.13% in the first quarter of 2025, according to the latest report by the National Bureau of Statistics (NBS).
The performance reflects a moderate improvement in economic activities across various sectors, compared to the 2.98% growth rate posted in the corresponding quarter of 2024. The NBS attributes this expansion to increased output in key non-oil sectors, especially telecommunications, financial services, agriculture, and manufacturing.
While the oil sector showed a slight improvement, the non-oil sector remained the primary driver of growth, contributing significantly to overall GDP performance. The report noted that telecommunications and information services led the charge, followed closely by trade, agriculture, and construction.
Despite persistent challenges such as inflationary pressure, foreign exchange volatility, and insecurity in some regions, the positive GDP growth rate signals resilience in Nigeria’s economy, underpinned by ongoing reforms and increased private sector participation.
Economic experts say the 3.13% growth provides cautious optimism for the rest of 2025, especially as the federal government ramps up investment in infrastructure, energy, and youth-driven digital innovation.
The NBS stressed the need for continued policy consistency, improved security, and better access to finance for small and medium-sized enterprises to sustain growth momentum in the coming quarters.