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<\/p>\nAugust 25, 2025 | Economy, GDP, Spotlight<\/p>\n
Nigeria\u2019s economy is projected to post stronger growth in Q2 2025, with analysts forecasting real GDP expansion between 3.2% and 3.9%.<\/p>\n
This outlook would surpass both the 3.13% growth recorded in Q1 2025 and the performance in the same quarter of 2024, reflecting improved macroeconomic stability and rising non-oil output.<\/p>\n
The optimism is supported by the recent GDP rebasing, relative exchange rate stability, and expansion across financial services, telecommunications, and industry.<\/p>\n
The National Bureau of Statistics (NBS) is expected to release the official GDP report later this month.<\/p>\n
Expert Projections<\/p>\n
Experts forecast growth of 3.5%\u20133.7%, noting that the GDP rebasing has sharpened visibility into sectoral performance. The Purchasing Managers\u2019 Index (PMI) averaged 52.2 points in Q2, up from 51.3 in Q1 2025 and 48.0 in Q2 2024, signaling stronger business activity.<\/p>\n
\u201cThe Nigerian economy appears well positioned to record stronger growth in Q2 2025, outpacing both Q1 2025 and the corresponding period of 2024,<\/p>\n
The projects growth between 3.2% and 3.9%, led by a robust non-oil sector expected to expand by 4.1%\u20134.6%, while the oil sector is projected to post a modest 2.0%\u20132.6% gain.<\/p>\n
Oil sector performance remains subdued, with crude output steady at 1.48 mbpd in Q2 (vs. 1.47 mbpd in Q1) and weaker oil prices averaging $68.70\/barrel compared to $73.66 in Q1. Analysts attribute this to reduced global demand following the so-called \u201cTrump tariff effect.\u201d<\/p>\n
The non-oil economy, however, continues to gain traction.<\/p>\n
Services remain the primary driver, boosted by bank recapitalisation in finance & insurance.<\/p>\n
Telecommunications benefit from tariff liberalisation.<\/p>\n
Industry is expected to edge up to 3.6% growth in Q2 from 3.4% in Q1, helped by easing inflation and FX stability.<\/p>\n
Agriculture is likely to underperform, growing below its long-term 3% average due to persistent insecurity in key food-producing states such as Benue and Plateau.<\/p>\n
They believe macroeconomic stability is central to the positive outlook.<\/p>\n
\u201cConsidering the moderating inflation, stable currency, and increasing foreign reserves, GDP is expected to have grown in Q2 2025,\u201d he said.<\/p>\n
Key Drivers of Expected GDP Growth in Q2 2025<\/p>\n
GDP rebasing: Enhances visibility of fast-growing sectors, particularly services and telecoms.<\/p>\n
Macro stability: Inflation is easing, FX volatility has moderated, and reserves are improving.<\/p>\n
Business activity: PMI of 52.2 reflects stronger private-sector output.<\/p>\n
Non-oil momentum: Services, telecoms, and industry continue to expand, offsetting oil sector weakness.<\/p>\n","protected":false},"excerpt":{"rendered":"
August 25, 2025 | Economy, GDP, Spotlight Nigeria\u2019s economy is projected to post stronger growth in Q2 2025, with analysts forecasting real GDP expansion between 3.2% and 3.9%. This outlook would surpass both the 3.13% growth recorded in Q1 2025 and the performance in the same quarter of 2024, reflecting improved macroeconomic stability and rising […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","_wp_convertkit_post_meta":{"form":"-1","landing_page":"0","tag":"0","restrict_content":"0"},"footnotes":""},"categories":[22,1],"tags":[],"class_list":["post-5119","post","type-post","status-publish","format-standard","hentry","category-articles","category-news"],"yoast_head":"\n