Nigeria’s economy grows 3.13% in Q1 2025 after GDP rebasing

Africanews (in English)

Nigeria’s economy grows 3.13% in Q1 2025 after GDP rebasing  Despite the modest performance compared to a 4.9% forecast by analysts, officials say the rebasing offers a more accurate picture of Nigeria’s economic structure and recent momentum.  READ MORE : http://www.africanews.com/2025/07/22/nigerias-economy-grows-313-in-q1-2025-after-gdp-rebasing  Subscribe on our Dailymotion channel and receive all the latest news from the continent.    Africanews is available in English and French.  Website : www.africanews.com  Facebook : https://www.facebook.com/africanews.channel/  Twitter : https://twitter.com/africanews

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00:00Nigeria's economy expanded by 3.13% year-on-year in the first quarter of 2025,

00:07following a major rebasing of the country's gross domestic product,

00:11the National Bureau of Statistics announced on Monday.

00:15The updated GDP figures use 2019 as the new base year

00:20and put the economy's size at 372.8 trillion naira or $243.7 billion.

00:30The first quarter growth marks an improvement from the 2.27% recorded in the same period last year.

00:39The services sector led the growth, expanding by 4.33% and contributing over 57% to total GDP.

00:49The industry sector followed with 3.42% growth while agriculture barely grew at 0.07%,

01:00recovering from negative growth in first quarter of 2024.

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