Nigeria’s Gross Domestic Product (GDP) grew by 3.46% in real terms year-on-year in the first quarter of 2025, according to data released by the National Bureau of Statistics (NBS).
The growth marks a slight improvement from the 2.98% recorded in Q4 2024 but represents a marginal drop from the 3.61% growth rate posted in Q1 2024.
Despite ongoing economic headwinds, the latest figures — based on Nigeria’s recently rebased national accounts — point to steady expansion in economic activities.
The rebasing has updated the country’s economic indicators to better reflect current realities, placing Nigeria’s nominal GDP at ₦238.4 trillion for Q1 2025 and offering a clearer picture of the nation’s economic structure.
