Nigeria’s economy expanded in the third quarter (Q3) of 2025, extending its annual growth that picked up to a four-year high in the previous quarter on improvements in the oil sector.

Gross Domestic Product (GDP) surged to 3.98 percent year-on-year in Q3, compared to 3.86 percent it recorded in the corresponding period last year, according to new data released by the National Bureau of Statistics on Monday.

Related News

The annual growth was supported by the rising average daily oil production, which grew by 1.64 million barrels per day (mbpd), higher than the daily average production of 1.47 mbpd recorded in the same quarter of last year but lower than the second quarter of 2025 production volume of 1.68 mbpd.

Wasiu Alli is a business, economics cum data journalist with strong expertise covering macro trends, capital markets, government policies, corporate earnings and comparative economics analysis. Alli turns raw data into trends that not only tells compelling stories but nudges investors to make valued and informed decisions. He’s an alumnus of Lagos State University and trained at Lagos Business School. He formerly heads the Companies and Markets desk at BusinessDay where he writes and supervises the production of well researched articles on earnings updates, corporate sectoral comparisons, market intelligence as well as interviews with C-suite executives.

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp