Business
₦100.73trn: Nigeria’s Nominal GDP Soars
Nigeria’s economy expanded strongly in the second quarter of 2025, with nominal Gross Domestic Product (GDP) climbing to ₦100.73 trillion, up from ₦94.05 trillion in the first quarter, according to new data from the National Bureau of Statistics (NBS).
Real GDP, which adjusts for inflation, was recorded at ₦51.20 trillion during the period.
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The NBS report highlighted that non-oil activities continued to drive the economy, contributing 95.95 percent of total output, while the oil sector accounted for just 4.05 percent. Within the non-oil economy, services led with a 56.53 percent share, followed by agriculture at 26.17 percent and industries at 17.31 percent.
Overall, Nigeria posted a growth rate of 4.23 percent in Q2 2025, strengthening its position as Africa’s largest economy.
The report also recalled that in July 2025, Nigeria rebased its GDP to reflect current economic dynamics, placing the 2024 figure at ₦372.8 trillion.
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