Nigeria’s economy strengthened in the second quarter of 2025, recording a 4.23% year-on-year growth rate, a marked improvement over the 3.48% growth in Q2 2024 and 3.13% in Q1 2025, according to the latest Q2 2025 GDP Report released by the National Bureau of Statistics (NBS).

The report highlights that non-oil sectors continue to dominate the economy, with agriculture and trade driving much of the expansion. Agriculture alone accounted for 26.17% of real GDP, underlining its crucial role in Nigeria’s economic stability.

Top 10 Contributors to Nigeria’s Q2 2025 Real GDP

1. Trade – 18.28%
   Wholesale and retail trade remained Nigeria’s largest GDP contributor, showing robust consumer and commercial activity.
2. Crop Production – 17.80%
   Crop farming was the dominant sub-sector in agriculture and the second-largest GDP driver.
3. Real Estate Services – 12.80%
   Real estate activities maintained strong momentum, reflecting sustained property development and demand.
4. Telecommunications & Information Services – 11.18%
   The ICT and telecoms sector continued to expand as Nigeria’s digital economy grows.
5. Livestock – 5.90%
   Livestock farming remained a key agricultural pillar.
6. Crude Petroleum & Natural Gas – 4.05%
   The oil sector rebounded slightly, boosting overall GDP.
7. Construction – 3.60%
   Ongoing infrastructure projects and building works kept construction activity high.
8. Food, Beverage & Tobacco (Manufacturing) – 2.87%
   This manufacturing sub-sector provided steady industrial output.
9. Financial Institutions – 2.84%
   Banks and financial services maintained a stable contribution.
10. Public Administration – 2.73%
    Government administrative activities rounded out the top contributors.

Economists say the uptick reflects stronger domestic demand, modest oil recovery, and continued diversification efforts. However, they caution that inflation, high debt servicing costs, and foreign exchange instability could still weigh on future growth.