Agriculture, industry propel Nigeria’s GDP to 3.98% in Q3 2025

Nigeria’s economy recorded a 3.98% year-on-year growth in real terms in the third quarter of 2025, driven primarily by agriculture and industrial activities, according to data released by the National Bureau of Statistics (NBS). The performance improved slightly from 3.86% in the same period in 2024, though it remained below the 4.23% growth recorded in Q2 2025.

In nominal terms, the nation’s GDP reached N113.587 trillion in Q3 2025, up from N96.160 trillion in Q3 2024, reflecting an 18.12% year-on-year increase.

Sector Performance

Agriculture expanded by 3.79% during the quarter, up from 2.55% a year earlier, while the industrial sector grew by 3.77%, compared with 2.78% in Q3 2024. The services sector, which remains the largest contributor to the economy, recorded a 4.15% growth, accounting for 53.02% of GDP, slightly higher than 52.93% in the same period of 2024.

The oil sector averaged 1.64 million barrels per day (mbpd), up from 1.47 mbpd in Q3 2024 but down from 1.68 mbpd in Q2 2025. The sector grew by 5.84% year-on-year but contracted by 5.53% compared with the preceding quarter, contributing 3.44% to total real GDP.

The non-oil sector, which remains the dominant driver of growth, expanded by 3.91% year-on-year, supported by crop production, telecommunications, real estate, financial institutions, trade, construction, and manufacturing. The sector contributed 96.56% to total real GDP.

Construction grew by 21.23% in nominal terms, while trade expanded by 19.27%. The transportation and storage sector saw a nominal growth of 24.35%, reflecting robust performance across road, rail, water, air, and courier services.

Analyst Insights

Prof. Uche Uwaleke, Executive Director at the Institute of Capital Markets, Nasarawa State University, described the Q3 report as broadly positive but noted lingering challenges. “Manufacturing growth remains below 2%, constrained by structural bottlenecks such as inadequate energy supply, poor transport infrastructure, and limited access to credit,” he said.

Uwaleke emphasized the need for policy measures targeting job-intensive sectors like agriculture, construction, and manufacturing, alongside expanded investment in social sectors such as education and health, to translate GDP gains into sustainable economic development.

Overall, the report highlights that while Nigeria’s economic growth shows resilience, boosting industrial capacity and addressing structural challenges will be essential to sustaining and broadening the benefits of the current growth trajectory.