The data bureau announced the development in its latest GDP
report for Q3 2025.

The growth rate, according to the organisation, is higher
than the 3.86 percent recorded in Q3 2024.

“Following the rebasing of the Gross Domestic Product using
2019 as the base year, previous quarterly GDP estimates were benchmarked to the
rebased annual estimates to align the old series with the new rebased
estimates,” the report reads.

“This procedure provided a new quarterly GDP series, which
is compared to the 2025 third quarter estimates. Gross Domestic Product (GDP)
grew by 3.98% (year-on-year) in real terms in the third quarter of 2025.

“This growth rate is higher than the 3.86% recorded in the
third quarter of 2024.”

In the quarter under review, the NBS said agriculture grew
by 3.79 percent — an improvement from the 2.55 percent recorded in the
corresponding quarter of 2024.

According to the bureau, the growth of the industry sector
stood at 3.77 percent from 2.78 percent recorded in the third quarter of 2024,
while the services sector recorded a growth of 4.15 percent from 4.97 percent
in the same quarter of 2024.

“In terms of share of the GDP, the services sector
contributed more to the aggregate GDP in the third quarter of 2025 at 53.02%
compared to the corresponding quarter of 2024 at 52.93%,” the bureau said.

The NBS said the aggregate GDP at basic price stood at
N113.58 trillion in nominal terms.

This performance, the bureau said, is higher relative to the
third quarter of 2024, which recorded an aggregate GDP of N96.16 trillion,
indicating a year-on-year nominal growth of 18.12 percent.

While nominal GDP and real GDP both quantify the total value
of all goods produced in a country in a year, real GDP is adjusted for
inflation.