Nigeria's economy is showing renewed strength with GDP growing by 4.23% year-on-year in the second quarter of 2025, according to fresh data from the National Bureau of Statistics (NBS). The growth, driven by strong performance in agriculture, industry, and services, signals improved prospects for Small and Medium Enterprises (SMEs) across key sectors.
Agriculture expanded by 2.82%, creating opportunities for agribusiness SMEs, while the industry sector surged to 7.45% growth—nearly double last year's performance—opening up space for manufacturing and processing businesses to scale. The services sector, a major hub for SMEs in ICT, retail, and professional services, also posted 3.94% growth.
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The industry sector's contribution to GDP rose to 17.31%, up from 16.79% a year earlier, underscoring the rising role of production and industrial activity in economic growth. Meanwhile, nominal GDP stood at ₦100.73 trillion, marking a 19.23% increase from ₦84.48 trillion in Q2 2024.
Analysts say the stronger macroeconomic outlook will support lending, investment, and expansion opportunities for SMEs, particularly in agriculture, light manufacturing, and services—three areas that continue to anchor Nigeria's job creation and innovation.
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