Nigeria’s economy posted one of its strongest quarterly growth rates in years, expanding by 4.23% in Q2 2025, according to the National Bureau of Statistics.
The Centre for the Promotion of Private Enterprise (CPPE) hailed the report, describing it as proof that recovery momentum is gaining speed.
CPPE CEO, Dr. Muda Yusuf, attributed the strong numbers to a surge in oil and gas output, which jumped 20.46%, aided by reforms, offshore incentives, and better operational efficiency at the Nigerian National Petroleum Company Limited (NNPCL).
Agriculture also improved, rising 2.82% after near-zero growth in Q1, supported by government input schemes and favourable rainfall.However, Yusuf flagged worrying signals in manufacturing, which slowed to 1.60%, squeezed by high production costs, FX volatility, and cheaper imports.
Construction also moderated to 5.25%, while refining posted gains, reflecting progress in local capacity.
He warned that without urgent reforms in productivity-driven sectors like agriculture and manufacturing, growth would not translate into jobs, food security, or poverty reduction.
In a related development, the Nigeria Customs Service (NCS) unveiled a new One-Stop-Shop (OSS) clearance system to cut cargo clearance time from 21 days to just 48 hours.
Comptroller-General Bashir Adeniyi said the OSS would reduce duplication of checks, curb delays, and lower trade costs, beginning with pilot operations at Apapa, Tin Can Island, and Onne ports.