Nigeria’s Q1 2025 GDP figures, released by the National Bureau of Statistics (NBS), show that the economy is seeing strong traction in select infrastructure and services sectors despite broader structural challenges.
According to data from the National Bureau of Statistics (NBS), Rail Transport and Pipelines emerged as the fastest-growing sector in the quarter, expanding by 28.95% year-on-year, reflecting increased activity in freight movement and capital deployment into railway infrastructure.
Close behind was the Metal Ores sector, which grew by 25.20%, a continuation of momentum from 2024 amid improved global demand and rising local extraction.
Analysts believe this growth could be linked to ongoing investment in solid minerals and the federal government’s push to diversify the export base.
The Electricity, Gas, Steam, and Air Conditioning Supply sector posted a surprising rebound, growing by 18.65%, its strongest performance in recent quarters. This may be attributed to improved grid stability and expanded energy access, particularly in industrial corridors.
The top 10 fastest-growing sectors posted annual growth rates ranging from 7.8% to nearly 29%, indicating pockets of economic resilience.
Fastest sectors in Q1 2025
Here’s a breakdown of each top-performing sector and what’s driving their momentum.
- Q1 2024: 1.69%, Q4 2024: 5.93%
The financial sector posted one of the strongest improvements in Q1 2025. It jumped from 5.93% in the previous quarter and just 1.69% a year earlier.
The yearly and quarterly leaps are indicative of strong interest income due to high MPR, as well as growing credit to the private sector, the continued rise of digital banking, and fintech operations. The sector is clearly benefitting from tighter monetary policy and rising financial inclusion.
The sector’s resilience was also supported by improved asset quality and ongoing recapitalization efforts.
