ABUJA, Sept. 22 (Xinhua) — Nigeria’s gross domestic product (GDP) expanded by 4.23 percent year-on-year in real terms in the second quarter (Q2) of 2025, the National Bureau of Statistics (NBS) said in a report released on Monday.
The growth rate was stronger than the 3.48 percent recorded in the same quarter of 2024, according to the report.
In terms of the share, the industry sector accounted for 17.31 percent of aggregate GDP in Q2 2025, up from 16.79 percent in Q2 2024, the NBS said.
In December 2024, President Bola Tinubu said Nigeria’s economy was on track to become more favorable for citizens in 2025, citing expectations of restored macroeconomic stability, an improved business environment, increased employment opportunities, and poverty reduction.
He said economic reforms launched by his administration over the past two years would be reinforced to sustain progress toward a more resilient, equitable, predictable, and globally competitive economy.
