Data published on Monday, December 1, 2025 by the National Statistics Agency mention that the economic growth of Nigeria slowed to 3.98% year-on-year in the third quarter.

Overall growth decelerated compared to 4.23% recorded in the second quarter, although the increase in services and agriculture, as well as the increase in oil production have supported economic expansion between July and September. According to the data, inflation and a restrictive monetary policy weighed on activity.

The Nigerian economy grew by 3.13% during of the first three months of the year, after revised calculations following a new Gross Domestic Product (GDP) reference base. This operation of readjustment, carried out in July, aims to reflect structural changes in most populous country in Africa.

According to the information, in the third quarter, the oil sector registered a growth of 5.84% year-on-year, supported by an average daily production of 1.64 million barrels per day (mbd), compared to 1.47 mbd in the same quarter in 2024. However, the share of The oil sector in GDP fell to 3.44%, illustrating the dependence persistent non-oil activities in Nigeria.

The non-oil sector increased by 3.91%, driven by a 4.15% increase in services and industry over one year, while agriculture grew by 3.77%, according to the National Bureau of Statistics.