“Nigeria’s Gross Domestic Increases By 4.23%” – NBS

Nigeria’s Gross Domestic Product rose by 4.23 per cent year-on-year in real terms in the second quarter of 2025, according to the latest figures released on Monday by the National Bureau of Statistics.

The performance was stronger than the 3.48 per cent growth recorded in the same period of 2024, showing that the economy gained momentum despite persistent structural challenges. The bureau explained that the quarterly estimates followed the rebasing of GDP using 2019 as the base year, allowing comparisons to track the pace of expansion across sectors.

The report read, “Following the rebasing of the Gross Domestic Product using 2019 as the base year, previous quarterly GDP estimates were benchmarked to the rebased annual estimates to align the old series with the new rebased estimates.

“This procedure provided a new quarterly GDP series, which is compared to the 2025 second quarter estimates. Gross Domestic Product grew by 4.23 per cent (year-on-year) in real terms in the second quarter of 2025.