Top 10 Performing Sectors Driving Nigeria’s Economic Growth
- Nigeria’s GDP grew 3.98% in Q3 2025, driven mainly by the non-oil economy, which contributed over 96% of national output.
- Agriculture and services led growth, with crop production at 23.06%, trade at 16.42%, and telecom & information services at 7.67%.
- The oil sector accounted for only 3.80% of GDP, reflecting a slowdown despite crude production rising to 1.64 million barrels per day.
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The National Bureau of Statistics (NBS) has revealed that Nigeria’s GDP grew by 3.98% year-on-year in real terms in the third quarter of 2025, slightly higher than the 3.86% recorded in the same period of 2024, with the non-oil sectors contributing more than 96% of total output.
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Nigerian economy snapshot
Nigeria’s economy is gradually moving away from dependence on crude oil, with agriculture and services emerging as the main growth drivers.
Agriculture contributed just over 31% of GDP, led by crop production at 23.06%, rising from 2.55% in Q3 2024 to 3.79%, and livestock at 6.18%, highlighting its role in output and food security.
The services sector remained dominant at 53.02% of GDP. Trade added 16.42%, reflecting household consumption, while real estate contributed 13.36%.
Telecommunications and information services contributed 7.67% with strong growth of 5.78%, showing their growing importance.
Professional, scientific, and technical services and public administration added 2.37% and 2.56%, stressing the rising role of services in the economy.
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Oil sector performance
The oil sector, while still important for government revenue, accounted for just 3.80% of GDP. Crude oil and natural gas production averaged 1.64 million barrels per day, up from 1.47 million the previous year.
Despite this increase, real growth slowed to 5.84%, showing the sector’s declining share of total economic output.
Other contributors included the industrial sector, with food, beverage, and tobacco manufacturing adding 3.44%, and construction contributing 3.03%, supported by ongoing infrastructure projects and private development., BusinessDay reports.
Snapshot
- Crop Production: 23.06%
- Trade: 16.42%
- Real Estate: 13.36%
- Telecom & Information Services: 7.67%
- Livestock: 6.18%
- Oil Sector: 3.80%
- Food, Beverage & Tobacco Manufacturing: 3.44%
- Construction: 3.03%
- Public Administration: 2.50%
- Professional & Technical Services: 2.37%
CBN keeps MPR strong
Earlier, Legit.ng reported that the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 27%, extending its tight monetary stance amid ongoing efforts to curb inflation and stabilise the foreign exchange market.
The decision was announced on Tuesday, November 25 at the end of the 303rd meeting of the Monetary Policy Committee (MPC) in Abuja, where members voted to leave all key policy indicators unchanged.
CBN Governor Olayemi Cardoso said the committee’s decision reflects its assessment that tightening policies are beginning to deliver results
Cardoso said holding the MPR at its current level provides necessary support for sustaining downward movement in prices and anchoring market expectations. He added that the decision received overwhelming support from MPC members.
Source: Legit.ng
