National Bureau of Statistics (NBS) has announced that Nigeria’s economy grew by 3.13% year-on-year in real terms in Q1 2025, following a GDP rebasing using 2019 as the base year.
This marks a 0.86 percentage point increase from 2.27% in Q1 2024. The NBS also revised GDP growth rates for previous years: -6.96% in 2020, 0.95% in 2021, 4.32% in 2022, 3.04% in 2023, and 3.38% in 2024.
The Q1 2025 growth was primarily driven by the Services sector, which grew by 4.33% and contributed 57.50% to total GDP.
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