Nigeria GDP Annual Growth Rate

Last Release

Dec 31, 2024

Actual

3.84

Units In

3.46

Frequency

Quarterly

Next Release

Nov 25, 2025

Time to Release

2 Months 1 Days 13 Hours

Highest	Lowest	Average	Date Range	Source
6.88 Mar 2011	-6.1 Jun 2020	2.72 %	2011-2024	Central Bank of Nigeria

Nigeria is the biggest economy in Africa. Services is the largest sector of the economy, accounting for about 50 percent of total GDP. One of the fastest growing segments in Services are Information and Communication, which together account for about 10 percent of the total output. Agriculture, which in the past was the biggest sector, now weights around 23 percent. Crude Petroleum and Natural Gas constitute only 11 percent of total GDP, while being the main exports. Industry and Construction account for the remaining 16 percent of GDP.

Latest Updates

The economy of Nigeria expanded by 4.23% year-on-year in Q2 2025, up from 3.13% in the previous period, reflecting stronger momentum after a rebasing of the national accounts using 2019 as the base year. This represents the highest quarterly growth since Q2 2021, driven by a 20.5% increase in the oil sector and a 3.6% rise in the non-oil sector in Q2 2025. From a sectoral perspective, industry recorded the strongest performance, rising 7.45%, while services increased 3.94% and agriculture expanded 2.82%.