Data emerging from the National Bureau of Statistics signals a meaningful uplift for Nigeria’s economy in the opening quarter of 2025, with real GDP growth reaching 3.13 percent compared to Q1 2024. This reflects a climb from the previous year’s 2.27 percent growth rate, illustrating improving economic conditions.
Key contributors to this expansion have been identified as the services and industrial sectors, which have both shown increased activity despite global economic uncertainties. The official statement from the NBS confirmed, “Gross Domestic Product (GDP) grew by 3.13 per cent (year-on-year) in real terms in the first quarter of 2025.”
This promising report comes as Nigeria navigates inflationary pressures, currency fluctuations, and ongoing efforts to diversify away from oil dependence. Investors and policymakers alike view the statistics as an encouraging sign of Nigeria’s structural economic progress, which could boost investor confidence and support job creation.
As the year progresses, sustained growth could bolster government initiatives aimed at socioeconomic development and poverty reduction, underlining the importance of the current upward trend.