Gross Domestic Product (GDP) grew by 3.98 per cent (year-on-year) in real terms in the third quarter of 2025. This growth rate is higher than the 3.86 per cent recorded in the third quarter of 2024.

On a quarter-on-quarter basis, the GDP dropped from 4.23 per cent in the second quarter of 2025 to 3.98 per cent in the third quarter, according to the latest Gross Domestic Product (GDP) data released by the National Bureau of Statistics (NBS) on Monday.

Real GDP rose to N57.03 trillion from N54.85 trillion a year earlier, while nominal GDP jumped 18.12 per cent to N113.59 trillion, reflecting higher prices and continued sectoral expansion.

The services sector remained the economy’s engine, contributing 53.02 per cent of total output, followed by agriculture at 31.21 per cent, driven by strong crop production. ICT, financial services, real estate and trade were among the standout performers.

The non-oil sector grew by 3.91 per cent, outperforming both Q3 2024 and Q2 2025, underscoring its continued role as the anchor of national growth. ICT expanded 5.78 per cent , pushing its contribution to 9.10 per cent, while trade grew 1.98 per cent.

Oil sector growth improved slightly to 5.84%, supported by higher crude output of 1.64 million barrels per day, up from 1.47 million barrels per day a year earlier. Oil contributed 3.44 per cent to GDP despite a quarterly decline.

Manufacturing slowed to 1.25 per cent, construction grew 5.57 per cent, and real estate delivered 3.50 per cent real growth alongside an 89 per cent nominal surge. Education and health posted modest gains of 2.51 per cent and 2.89 per cent.

Statistician-General, Prince Adeyemi Adeniran, said the growth reflects improved data quality and broad-based sectoral performance.