Nigeria’s Oil GDP grows by 5.84% on higher production

Share

Nigeria’s oil sector expanded 5.84 percent in the third quarter of 2025, driven by higher crude production that pushed output to an 11-month high as Africa’s largest oil producer works to reverse years of decline and infrastructure neglect.


The oil sector growth, while below the 20.46 percent surge recorded in the second quarter, helped lift Nigeria’s overall gross domestic product by 3.98 percent year-on-year in the three months through September, according to data released Monday by the National Bureau of Statistics. The economy grew 3.86 percent in the same period last year.


Aggregate crude oil production averaged 1.64 million barrels per day during the quarter, marking an 11.6 percent increase from 1.47 million barrels per day in the third quarter of 2024, the statistics office reported. However, output remained below the 1.68 million barrels per day achieved in the previous quarter, signaling ongoing challenges in sustaining production gains.

Read more

Local News