Nigeria's Economic Resilience Shines: Q1 Growth Signals African Economic Power
Nigeria's economy shows remarkable resilience with a 3.13% growth in Q1 2025, following a strategic GDP rebasing exercise. The new calculations, incorporating emerging sectors, reflect a more accurate picture of Nigeria's economic might, now valued at 372.822 trillion naira.
Nigerian business district showcasing economic growth and development
Nigeria Demonstrates Economic Strength with 3.13% Growth in Q1 2025
In a powerful demonstration of Nigeria's economic resilience, our nation's economy has recorded a robust 3.13% year-on-year growth in the first quarter of 2025. This growth comes after a strategic rebasing of our Gross Domestic Product (GDP), positioning our economy to better reflect our true economic might.
Breaking Down the Numbers
The National Bureau of Statistics (NBS) reveals that Nigeria's economy has now reached an impressive 372.822 trillion naira ($243.66 billion) following the rebasing exercise. This isn't just about numbers – it's about recognizing our true economic potential.
New Sectors Driving Growth
Our economic landscape has evolved significantly since 2014, and the latest GDP rebasing acknowledges this transformation. Several vibrant sectors are now properly represented in our economic calculations:
- Marine, fishing shipping and ports
- Arts, culture, and tourism
- E-commerce
Reclaiming Our Economic Position
While the 2014 rebasing had rightfully positioned Nigeria as Africa's largest economy ahead of South Africa, recent currency adjustments under President Bola Tinubu's administration have presented new challenges. However, these are temporary setbacks in our journey towards economic sovereignty.
This growth demonstrates Nigeria's underlying economic strength and resilience, even as we navigate necessary monetary policy adjustments.
As we continue to adapt and grow, these figures serve as a testament to Nigeria's enduring economic potential and our capacity to shape Africa's economic future.
Tunde Okoro
Nigerian journalist with a Pan-African voice. Covers politics, sovereignty, and social justice across West Africa.