Nigeria's economy expanded by 4.23% year-on-year in real terms in the second quarter of 2025, according to fresh data from the National Bureau of Statistics (NBS).
The growth stronger than the 3.48% recorded in Q2 2024 reflects gains from the rebased 2019 GDP series and a rebound in oil output. Nominal GDP climbed to N100.73tn, up 19.23% from N84.48tn in the same period of 2024.
Oil production averaged 1.68 million barrels per day, powering a 20.46% surge in the oil sector, while non-oil activities dominated by agriculture, telecoms, finance, and trade grew by 3.64%, contributing 95.95% to overall output. Industry expanded by 7.45%, but manufacturing slowed to 1.60%, signaling persistent pressure on Nigeria's production base.
Despite the headline growth, labour unions and small business leaders questioned the figures, warning that the numbers fail to reflect the realities of households and enterprises. The Nigeria Labour Congress dismissed the report as "growth without development," citing worsening living conditions and unemployment concerns.
Organised private sector players, including the Association of Small Business Owners, urged government to channel reforms toward the real sector. "GDP growth is encouraging, but without stronger manufacturing and trade, small businesses and households won't feel the impact," said ASBON President Dr. Femi Egbesola.
