• Nigeria’s Q3 2025 GDP grew 3.98%, slightly below previous quarter’s 4.23%
  
• Non-oil sector led growth; oil sector slowed sharply from Q2 surge
  
• New reforms and 2030 GDP plan aim to boost long-term economic stability

Nigeria’s economy grew 3.98 percent year on year in the third quarter of 2025, the National Bureau of Statistics (NBS) said on Monday, slightly higher than the 3.86 percent recorded a year earlier. The figure nonetheless marks a slowdown from the 4.23 percent growth posted in the previous quarter.

The NBS said activity in the main productive sectors remained broadly positive. Agriculture and industry expanded 3.79 percent and 3.77 percent, while services grew 4.15 percent and continued to drive the economy, accounting for 53.02 percent of real GDP.

Non-oil growth reached 3.91 percent, stronger than in both the same quarter of 2024 and the preceding quarter. The performance was supported by agriculture, information and communication, real estate and trade. The oil sector grew 5.84 percent compared with 5.66 percent a year earlier, but the pace was far below the 20.46 percent recorded in the second quarter.

The data comes after Nigeria rebased its GDP and consumer price index in January to reflect 2019 production patterns and emerging economic activities. According to the International Monetary Fund (IMF), reforms intended to restore stability and revive growth are beginning to show results. The IMF pointed to the removal of fuel subsidies and the unification of the foreign exchange market as key steps, while noting that poverty, food insecurity and global uncertainty remain significant challenges.

In September, the National Economic Council adopted a new development roadmap, the Renewed Hope Plan (2026-2030), which seeks to consolidate reforms and move the economy toward a one trillion dollar GDP target by 2030.

Lydie Mobio