Nigeria's Mining, Agriculture, and Manufacturing Sectors Post Mixed Growth in Latest GDP Report
By Aboki Forex —
The Mining and Quarrying sector grew by 13.92% in nominal terms and 1.89% in real terms year-on-year. Crude petroleum and natural gas dominated the sector, accounting for 91.08% of output. That segment expanded by 16.37%, making it the main driver of growth. The sector contributed 4.23% of nominal GDP and 4.14% of real GDP.
Agriculture grew by 9.93% nominally and 3.15% in real terms year-on-year. It remains the largest sector of the economy, contributing 23.16% of real GDP. Crop production dominated, accounting for 66.76% of the sector's output. However, the sector recorded a sharp 36.37% quarter-on-quarter contraction in real terms.
Manufacturing expanded by 10.22% in nominal terms and 3.29% in real terms year-on-year. Growth was supported by increased activity in cement, food processing, and chemical production. The sector contributed 10.08% of nominal GDP and 9.57% of real GDP, indicating steady recovery and gradual industrial expansion.
Trade remained one of the largest sectors, growing 38.15% in nominal terms but only 2.08% in real terms. The divergence reflects price effects rather than strong volume growth. Trade accounted for 18.20% of nominal GDP and 17.89% of real GDP.
The real estate sector grew 14.25% nominally and 2.29% in real terms.