Nigeria’s Largest Economic Sectors in 2025 Revealed by NBS Report

1. Real Estate – ₦16.42 trillion (17.46% of GDP)

Real estate overtook all sectors in Q1 2025, posting an 80% surge from the previous quarter. The boom was fueled by massive demand for residential and commercial property in Lagos, Abuja, and emerging urban centers. High-end housing projects and rising land values drove up the sector’s nominal contribution.

2. Trade – ₦14.59 trillion (15.52% of GDP)

Trade remained a heavyweight sector despite a 27% drop from Q4, reflecting inflation pressures and reduced consumer spending. Informal retail, cross-border trading, and customs digitization supported resilience amid economic headwinds.

3. Crop Production – ₦11.78 trillion (12.53% of GDP)

Although down 38% from the harvest-heavy Q4, crop production remained essential, with food prices buoying nominal values. Insecurity, climate shocks, and input costs continue to challenge output.

4. Telecoms & Information Services – ₦7.24 trillion (7.70% of GDP)

Driven by mobile data and broadband expansion, telecoms held firm despite a minor dip. Investments in rural internet access, data centers, and digital apps (fintech, edtech) kept demand robust.

5. Construction – ₦5.06 trillion (5.38% of GDP)

Backed by public infrastructure and private real estate development, construction saw a 9.93% rise. Material costs remain a concern, but the sector remains a job engine.

6. Crude Petroleum & Natural Gas – ₦3.67 trillion (3.90% of GDP)

The oil sector rebounded with an 11.8% quarter-on-quarter growth, aided by global price recovery. Yet, it still underperformed historically due to pipeline vandalism and upstream bottlenecks.

7. Food, Beverage & Tobacco – ₦3.53 trillion (3.75% of GDP)

Price hikes and resilient demand for consumer staples helped the sector grow 3.48%. Local sourcing strategies helped manufacturers offset FX volatility.

8. Livestock – ₦3.32 trillion (3.53% of GDP)

Despite a steep seasonal decline of 55%, the livestock sector held its ground. Rising poultry and dairy demand are key growth drivers, though feed costs remain elevated.

9. Financial Institutions – ₦2.62 trillion (2.79% of GDP)

Banks and fintech firms continued to grow moderately, boosted by rising interest income and digital adoption. The CBN’s recapitalization directive also spurred investor interest.

10. Textile, Apparel & Footwear – ₦2.45 trillion (2.61% of GDP)

Made-in-Nigeria fashion demand kept the textile sector competitive, despite raw material inflation. Industrial revival efforts in Kaduna and Aba continued to support nominal gains.

📉 Outlook: Inflation Still Dominates, But Sector Shifts Show Promise

While the economy continues to be shaped by inflation, currency pressures, and global uncertainty, sectoral rebalancing—driven by real estate, digital services, and localized manufacturing—suggests new engines of growth are emerging.

As Nigeria navigates macroeconomic challenges, watching how sectors adapt and expand in Q2 and beyond will be critical.