Nigeria’s Economy Expands by 3.13% in Q1 2025 After GDP Rebasing
By Okafor Joseph, SpringNewsNG Media Limited
Nigeria’s economy recorded a 3.13% year-on-year growth in the first quarter of 2025, according to the latest GDP data released by the National Bureau of Statistics (NBS). The figure represents a notable improvement from the 2.27% growth posted in the same quarter of 2024.
The growth is largely attributed to Nigeria’s recent GDP rebasing exercise, which updated the calculation model to better reflect the country’s evolving economic structure. New sectors such as e-commerce, digital services, and creative industries were incorporated, providing a more accurate representation of Nigeria’s economic performance.
Analysts had earlier projected a stronger rebound of 4.9%, but the recorded figure still signals positive momentum amid ongoing fiscal and monetary reforms. Service sectors led the growth, while agriculture and manufacturing showed modest improvements.
The Federal Government has said it remains committed to economic diversification and will continue implementing reforms to stabilise the naira, attract investment, and reduce inflation.
