Nigeria’s Economy Edges Forward As Q3 GDP Hits 3.98%, NBS Reports

Nigeria’s economy continued its slow climb in the third quarter of 2025, posting a real GDP growth of 3.98 percent, a performance the National Bureau of Statistics (NBS) says reflects “steady, if cautious, momentum” in key sectors.

The latest GDP report, shows a marginal improvement over the 3.86 percent recorded in the same period last year, though slightly behind the 4.23 percent achieved in the previous quarter.

While the topline numbers signal moderate progress, the real story lies in how different sectors pulled their weight and how some lost steam.

Agriculture Regains Energy

Agriculture, long seen as Nigeria’s safety net, rebounded with 3.79 percent growth, rising from 2.55 percent in Q3 2024. Analysts say improved rainfall patterns and better access to inputs played a role.

Industry Shows Stronger Shoulders

The industry sector grew by 3.77 percent, an improvement over the 2.78 percent from a year earlier. The NBS attributes part of this rise to increased output in manufacturing and construction.

Services Slow Down but Stay Dominant

The services sector, Nigeria’s largest economic engine, recorded 4.15 percent growth, down from 4.97 percent in Q3 2024. Despite the slowdown, services accounted for 53.02 percent of total GDP, slightly higher than its share last year.

Oil Sector Sees a Mixed Quarter

The oil sector delivered 5.84 percent growth year-on-year, edging up from 5.66 percent in Q3 2024. But quarter-on-quarter performance told a different story, dropping sharply from 20.46 percent in Q2 2025.

Average daily oil production stood at 1.64 million barrels per day, up from 1.47 mbpd a year ago. However, production dipped below the 1.68 mbpd recorded in the previous quarter, largely due to a three-day strike by PENGASSAN and scheduled maintenance at major facilities.

Economy Still Driven by Non-Oil Sector

The non-oil sector contributed 96.56 percent of real GDP. A reminder that Nigeria’s economic backbone continues to shift away from crude oil. Growth was powered mainly by agriculture, telecommunications, real estate, finance, trade, construction and manufacturing.

NBS noted that the figures are part of Nigeria’s newly rebased GDP series, with 2019 now serving as the base year. The bureau said that the rebasing aligns the economy’s measurements with current realities and brings quarterly data in line with newer annual benchmarks.

With inflation still high and several sectors adjusting to policy reforms, the Q3 numbers reflect an economy moving forward, not at full speed, but with enough traction to signal resilience.