Breaking Down Nigeria's Gross Domestic Product: Key Factors To Economic Success

Change in per capita GDP of Nigeria, 1950–2018. Figures are inflation-adjusted to 2011 International Geary–Khamis dollars. Nigeria: Distribution of grossdomesticproduct (GDP) across economic sectors from 2013 to 2023. Nigeria recorded a 3.98% economic growth in the third quarter of 2025, according to new data from the National Bureau of Statistics (NBS). The report shows that the growth was mainly driven by the non-oil sector, especially agriculture and services. Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development ( OECD ); Staff estimates, World Bank ( WB ). License : CC BY-4.0. Financial experts and economists have told President Bola Ahmed Tinubu that Nigeria’s 3.19 percent GrossDomesticProduct growth rise in the second quarter of 2024 has failed to reflect on the living conditions of citizens. "Nigeria’sGrossDomesticProduct (GDP) grew by 3.84% (year-on-year) in real terms in the fourth quarter of 2024.Nigerianeconomy growth rate at 3-year high Photo credit: NBS Source: Twitter. Breakdown of oil and non-oil sector. The contribution of various sectors to Nigeria'sGrossDomesticProduct (GDP) was investigated in this report, as well as the creation of a model for forecasting Nigeria'sGDP over a 33-year period (1981-2013). Regression analysis and time. As Nigeria moves to rebase its GrossDomesticProduct at the end of January, certain sectors are expected to show substantial growth.