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Nigeria's GDP Soars 4.23%, Driven by Oil Boom

9/23/2025

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Story summary
  • Nigeria's GDP rose 4.23% year-on-year (YoY) in Q2 2025, fastest in four years, led by oil.
  • Oil sector expanded 20.46%, daily production at 1.68 million barrels, a pandemic-era recovery.
  • GDP rebased to 2019 improves measurements by including fintech and creative industries.
  • President Bola Tinubu's administration attributes growth to reforms; non-oil sectors grew, agriculture up 2.82% and industry 7.45%.