…Trade, crop production, and real estate are the top contributors
The non-oil sector has remained the top contributor to Nigeria’s Gross Domestic Product (GDP), as it contributes 95.95 per cent in real terms to the nation’s GDP in the second quarter of 2025. The National Bureau of Statistics report has revealed.
According to the GDP report released on Monday, the sector grew by 3.64 per cent in real terms during the period. This rate was higher by 0.38 percentage points compared to the rate recorded in the same quarter of 2024, which was 3.26 per cent and higher than the 3.19 per cent recorded in the first quarter of 2025.
The sectoral growth was driven mainly in the second quarter by Agriculture (Crop production); Information and Communication (Telecommunications); Real Estate; Financial and Insurance (Financial Institutions); Trade.
Construction and Electricity, Gas, Steam & Air Conditioning Supply, accounting for positive GDP
growth.
The Oil sector’s contribution to the total real GDP in the period was 4.05 per cent, up from the figure recorded in the corresponding period of 2024 at 3.51 per cent and up from the preceding quarter, where it contributed 3.97 per cent.
Read also: Oil sector drives Nigeria’s GDP growth to 4-year high
The report showed that Nigeria in the second quarter of 2025 recorded an average daily oil production of 1.68 million barrels per day (mbpd), higher than the daily average production of 1.41 mbpd recorded in the same quarter of 2024 by 0.27 mbpd and higher than the first quarter of 2025 production volume of 1.62 mbpd by 0.06mbpd.
The real growth of the oil sector was 20.46 (year-on-year) in Q2 2025, indicating an increase of 10.38 per cent
points relative to the rate recorded in the corresponding quarter of 2024 (10.08 per cent).
Growth increased by 18.5 percentage points when compared to Q1 2025, which was 1.87 per cent. On a quarter-on-quarter basis, the oil sector recorded a growth rate of 6.01% in Q2 2025.
The agricultural sector grew by 2.82 per cent in real terms, which is an increase of 0.2 percentage points from the corresponding period of 202, and an increase of 2.75 percentage points from the preceding quarter, which recorded a growth rate of 0.07 per cent. It grew on a quarter-on-quarter basis at 16.40 per cent.
However, the sector contributed 26.17 per cent to aggregate GDP in real terms and 21.0 per cent to nominal GDP in Q2 2025, lower than the contribution in the second quarter of 2024 and higher than the first quarter of 2025, which stood at 26.53 per cent and 23.33 per cent, respectively.
Also in the period, the nominal year-on-year growth rate of Trade stood at 43.8 per cent. This indicates an increase of 9.49 percentage points when compared to the second quarter of 2024 growth rate of 34.34 per cent and 34.70 percentage points higher than the previous quarter’s growth rate of 9.13 per cent.
Trade’s contribution to Nominal GDP in the second quarter of 2025 was 25.93 per cent, higher than the contribution in the same quarter of the previous year of 21.21.49 per cent, and higher than the preceding quarter, which was recorded at 15.52 per cent.
“In real terms, Trade’s year-on-year growth stood at 1.29 percent in the second quarter of 2025, which was
0.53 percent points lower than the rate recorded in the previous year at 1.82 percent, and 0.49 percent points lower than in the preceding quarter at 1.78 percent growth rate. Quarter-on-quarter growth stood at 4.18 percent. Trade’s contribution to GDP was 18.28 percent, lower than the 18.81 percent it represented in the previous year, and higher than the 18.21 percent recorded in the first quarter of 2025.”
“In nominal terms, Real Estate Services in the second quarter of 2025 grew 6.14 per cent, lower by 20.55 percentage points than the growth rate reported for the same period in 2024 and lower compared to the preceding Quarter.
“On a quarter-on-quarter basis, the sector growth rate was -44.42 per cent. The contribution to nominal GDP in Q2 2025 stood at 9.06 per cent, relative to 10.18 per cent recorded in the second quarter of 2024 and 17.4 per cent in the first quarter of 2025.
“Real GDP growth recorded in the sector for the second quarter of 2025 stood at 3.79 per cent, lower than the growth recorded in the second quarter of 2024 by 3.55 percentage points, and lower by 0.82 percentage points relativ toe
to Q1 2025.
“On a quarter-on-quarter, the sector grew by -0.17 percent in the second quarter of 2025. It contributed 12.80 percent to real GDP in Q2 2025, lower than the 12.85 percent it recorded in the corresponding quarter of 2024 and lower than the 13.30 percent contributed in the preceding quarter.”
