Nigeria’s economy grew by 3.98% year-on-year in the third quarter of 2025, according to data released by the National Bureau of Statistics (NBS), marking a steady recovery fueled almost entirely by strong performance in the non-oil sectors. This Nigeria GDP growth non-oil sectors 2025 trend underscores a significant structural shift in Africa’s largest economy—where agriculture, services, telecommunications, trade, and fintech are increasingly driving expansion, even as the oil sector continues to contract.
The latest figures show that the non-oil sector expanded by 4.67%, outpacing overall GDP growth and solidifying its role as the backbone of economic resilience. Key contributors included:
- Agriculture (+4.1%), driven by increased cassava, rice, and maize production
- Information & Communication (+11.3%), powered by digital services, internet adoption, and fintech innovation
- Financial Services (+7.8%), supported by rising credit penetration and mobile banking activity
- Trade (+5.2%), reflecting improved supply chains and consumer demand
In contrast, the oil sector declined by 1.8%, weighed down by aging infrastructure, pipeline vandalism, low refining capacity, and declining crude output. Oil’s contribution to GDP fell to just 5.2%, down from 6.1% in the same quarter last year—highlighting Nigeria’s growing dependence on non-resource-driven growth.
“This quarter reinforces a clear reality: Nigeria’s economic engine is no longer running on oil,” said Dr. Taiwo Oyedele, Partner and Head of Fiscal Policy at PwC Nigeria. “We are witnessing the rise of a diversified, services-led economy—one that is more resilient to global commodity shocks.”
The Central Bank of Nigeria (CBN) welcomed the results, noting that sustained non-oil growth supports inflation stabilization and improves foreign exchange inflows from services exports, diaspora remittances, and digital platforms.
Policymakers say the data validates recent reforms aimed at boosting domestic productivity, including improvements in the foreign exchange market, targeted credit schemes for SMEs, and investments in rural infrastructure.
However, challenges remain. Despite positive GDP momentum, unemployment remains high at 33.3%, and inflation—though slowing—still hovers around 24.5%, eroding household purchasing power. Analysts warn that inclusive growth will require deeper investment in job creation, energy access, and skills development.
Still, the Nigeria GDP growth non-oil sectors 2025 trajectory offers a hopeful signal: after decades of oil dependency, the country is finally building an economy that reflects its people—not just its reserves.
And with tech startups scaling, farms feeding cities, and digital payments transforming commerce, the real story of Nigeria’s economy isn’t underground.
It’s above ground—and growing fast.
Follow us on Instagram.
https://www.instagram.com/businessnewsng?igsh=ZXpweTdjOGF1ZXdu
