Nigeria's economy maintained a positive growth trajectory in the third quarter of 2025, expanding by 3.98% year-on-year according to official data. The National Bureau of Statistics (NBS) released the figures, showing a slight deceleration from the 4.23% growth recorded in the second quarter of the year.
Services Sector Dominates Economic Contribution
The services sector remained the largest driver of the economy, accounting for a substantial 53.02% of the total Gross Domestic Product (GDP). This sector grew by 4.15% in Q3 2025. While this represents a solid expansion, it is a moderation from the more robust 4.97% growth seen in the same quarter of the previous year.
Following services, the agriculture sector contributed 31.21% to the nation's GDP. This sector showed significant improvement, growing by 3.79% compared to a growth rate of just 2.55% in the third quarter of 2024. The industry sector, which contributed 15.77%, also saw improved performance, expanding by 3.77% year-on-year, up from 2.78%.
Oil and Non-Oil Sector Performance
The report highlighted a mixed performance within the oil sector. On a year-on-year basis, the oil sector grew by 5.84%, a marginal increase from the 5.66% recorded in Q3 2024. However, this growth declined sharply compared to the stellar 20.46% expansion witnessed in the preceding quarter (Q2 2025). The sector's contribution to real GDP was 3.44%, slightly higher than the 3.38% in Q3 2024 but lower than the 4.05% in Q2 2025.
Average daily crude oil production was reported at 1.64 million barrels per day (mbpd). This is higher than the 1.47 mbpd produced in Q3 2024 but represents a slight dip from the 1.68 mbpd achieved in Q2 2025.
Conversely, the non-oil sector continued its steady expansion, growing by 3.91% in real terms during the quarter. This underscores the ongoing diversification of the economy away from its traditional reliance on hydrocarbon revenues.
Top Economic Activities in Q3 2025
The NBS data revealed the top ten activities that contributed the most to real GDP in the quarter:
- Crop Production (23.06%)
- Trade (16.42%)
- Real Estate (13.36%)
- Telecommunications & Information Services (7.67%)
- Livestock (6.18%)
- Construction (3.80%)
- Crude Petroleum and Natural Gas (3.44%)
- Food, Beverage and Tobacco (2.58%)
- Public Administration (2.56%)
- Professional, Scientific, & Technical Services (2.37%)
Economic Context and Food Price Relief
The quarterly GDP trend over the past year shows fluctuations. Growth was 3.86% in Q3 2024, then slowed to 3.76% in Q4 2024 and further to 3.13% in Q1 2025, before rebounding strongly in Q2 2025.
In a related development, the NBS reported a slight decline in the prices of major food items like beans, garri, maize, and tomatoes in September 2025. However, prices for rice and beef increased on a year-on-year basis. Significant price variations were observed across states, with Enugu, Ebonyi, and Imo recording some of the highest prices for staples, while Taraba, Yobe, Plateau, and Lagos had some of the lowest.
The Central Bank of Nigeria (CBN) has acknowledged the progress from ongoing economic reforms but emphasized that more work is needed to improve macroeconomic fundamentals and the standard of living for Nigerians. The latest GDP data provides a crucial benchmark for assessing the impact of these policies as the nation navigates its economic path.
