NIGERIA’S GDP GROWS BY 3.13% IN Q1 2025, LED BY SERVICES AND INDUSTRY SECTORS

NIGERIA’S GDP GROWS BY 3.13% IN Q1 2025, LED BY SERVICES AND INDUSTRY SECTORS

Nigeria’s economy expanded by 3.13% year-on-year in real terms during Q1 2025, up from 2.27% in Q1 2024, driven mainly by strong growth in the services and industry sectors, the National Bureau of Statistics (NBS) revealed.

The services sector grew by 4.33%, contributing over half of the GDP, while the industry sector posted a 3.42% rise. Agriculture showed slight improvement after prior contraction. Nigeria’s nominal GDP reached about ₦94 trillion in Q1 2025, an 18.3% increase from last year, reflecting ongoing economic recovery boosted by updated data from the recent 2019-base rebasing exercise.

Top sectors now include crop production, trade, real estate, telecommunications, and oil and gas, with services remaining the dominant contributor to overall growth.

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