GDP Slows to 3.98% in Q3 as Non-oil Sector Accounts for 96.56%, Oil 3.44%

•Agriculture boosts contribution to 31.21%

James Emejo in Abuja

Nigeria’s Gross Domestic Product (GDP) grew by 3.98 per cent in real terms in the third quarter of the year (Q3 2025), compared to 4.23 per cent in the preceding quarter, National Bureau of Statistics (NBS) said yesterday.

Year-in-year, however, the growth was higher than 3.86 per cent recorded in Q3 2024.

According to the GDP Q3 Report released by the statistical agency, aggregate GDP at basic price stood at N113 58 trillion, representing a nominal growth of 18.12 per cent, compared to N96.16 trillion in Q3 2024.

Real GDP stood at N57.03 trillion.

The Q3 performance came on the heels of the rebasing of GDP using 2019 as the base year, as previous quarterly estimates were benchmarked to the rebased annual estimates to align the old series with the new rebased estimates.

The procedure provided a new quarterly GDP series, which was compared to the 2025 third quarter estimates, NBS stated.

However, the overall GDP growth was aided by the 96.56 per cent non-oil sector contribution, compared to 95.95 per cent in Q2 and 96.62 per cent in Q3 2024.

The non-oil sector grew by 3.91 per cent in real terms during the reference quarter.

The oil economy accounted for 3.44 per cent, compared to 4.05 per cent in the preceding quarter and 3.38 per cent in Q3 2024.

The real growth of the oil sector was 5.84 per cent (year-on-year) in Q3 2025.

The country also recorded average oil production of 1.64 million barrels per day (mbpd) in the quarter under review, compared to 1.68 mbpd in Q2 and 1.47 mbpd in Q3 2024.

The services sector accounted for 52.03 per cent in real GDP, while industries contributed 15.77 per cent.

Agriculture’s contribution to GDP increased 31.21 per cent in the period under review, compared to 26.17 per cent in the preceding quarter and 31.27 per cent in Q3 2024.

The manufacturing sector contributed 7.62 per cent to GDP, lower than 7.81 per cent in the preceding quarter and 7.82 per cent in Q3 2024. The sector grew 8.65 per cent in Q3.

Trade’s contribution to GDP was 16.42 per cent, lower than 18.28 per cent in the preceding quarter, and 16.74 per cent in Q3 2024.