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Nigeria’s economy grew 4.23% in Q2 2025, driven by oil, industry, and agriculture, reaching N100.73 trillion in nominal GDP.
Nigeria’s economy expanded by 4.23% year-on-year in the second quarter of 2025, the fastest growth in nearly four years, according to the National Bureau of Statistics.
The increase, up from 3.48% in the same quarter of 2024, was driven by stronger oil production, a rebound in the industry sector, and improved performance in agriculture and services.
The oil sector grew by 20.46%, contributing significantly to GDP, while non-oil sectors remained the primary source of economic activity.
Nominal GDP reached N100.73 trillion, reflecting a 19.23% rise from the previous year.
The growth follows a recent rebasing of Nigeria’s GDP and aligns with President Bola Tinubu’s goal of 7% annual growth by 2027, though challenges like inflation and infrastructure gaps persist.
La economía de Nigeria creció un 4.23% en el segundo trimestre de 2025, impulsada por el petróleo, la industria y la agricultura, y alcanzó N100.73 billones en PIB nominal.