Nigeria’s economy posted a solid 3.98% growth in the third quarter of 2025, according to the latest data from the National Bureau of Statistics (NBS), marking one of the country’s strongest quarterly performances in recent years. The growth is largely attributed to robust activity in agriculture, information and communications technology (ICT), financial services, and manufacturing, sectors that continued to expand despite global economic uncertainties.
The NBS report shows that agriculture remained the largest contributor to GDP, powered by increased crop production, better rainfall distribution, and expanded investment in mechanised farming. The ICT sector also maintained its strong upward trajectory, boosted by rising broadband penetration, digital services, fintech growth, and increased adoption of online business platforms across the country.
Financial services showed notable resilience as banks deepened credit provision, expanded digital banking infrastructure, and recorded improved customer activity. Manufacturing, though still facing challenges such as high energy costs, saw moderate recovery due to increased domestic demand and government-backed industrial programmes.
Analysts say the Q3 figures indicate growing economic stability and the potential for stronger year-end performance if reforms continue. However, they warn that inflation, forex volatility, and insecurity in key agricultural zones remain areas that require urgent policy attention.
The NBS noted that non-oil sectors accounted for the majority of the growth, reflecting Nigeria’s gradual but steady shift away from oil dependence. Meanwhile, the oil sector experienced marginal improvement due to slightly higher crude production and better pipeline security compared to previous quarters.
Economic experts believe that sustained investment in agriculture and the digital economy could push Nigeria’s growth closer to 5% by early 2026, provided structural reforms are maintained and insecurity is tackled decisively.
Sources
National Bureau of Statistics (NBS) GDP Report
Ministry of Finance and Economic Planning
Nigerian Economic Summit Group (NESG) analysts
Financial and ICT sector reports
