Nigeria’s economy recorded a significant boost in the second quarter of 2025, with the Gross Domestic Product (GDP) growing by 4.23% year-on-year, according to the latest report from the National Bureau of Statistics (NBS).
The figure, released by the NBS on Monday, marks an improvement compared to the 3.48% growth recorded in the second quarter of 2024, and the 3.13% posted in the first quarter of 2025.
This steady increase suggests that the country’s economy is gaining momentum, helped by stronger performance in key sectors such as agriculture, services, and manufacturing.
The GDP is a key indicator used to measure the overall health of the economy. It reflects the value of all goods and services produced within a country over a specific period. A higher GDP growth rate generally signals economic expansion, improved business activity, and increased job creation.
The 4.23% growth is the highest Nigeria has recorded in over a year, giving a boost to hopes of sustained recovery after a difficult economic period. Last year, Nigeria faced significant economic pressure due to rising costs of living, fuel subsidy removal, and foreign exchange challenges.
Although the latest GDP figure is promising, experts warn that more work needs to be done to ensure inclusive growth that benefits ordinary Nigerians. They also point to the need for better infrastructure, power supply, and access to credit for small businesses.
The NBS is expected to release a detailed breakdown of the sectoral contributions to the GDP growth in the coming days.
As Nigeria continues to push for economic diversification beyond oil, stakeholders are hopeful that the growth trend will continue into the third and fourth quarters of 2025.
This new data from the NBS is seen as a positive sign that the economy may be on the right path, but sustained policy action and investment are still required to maintain and build on the momentum.
