{"id":994,"date":"2026-03-02T04:43:41","date_gmt":"2026-03-02T04:43:41","guid":{"rendered":"https:\/\/facthubafrica.com\/?p=994"},"modified":"2026-03-02T04:44:22","modified_gmt":"2026-03-02T04:44:22","slug":"insurance-sub-sector-records-21-4-growth-outpaces-banking-in-q4-2025","status":"publish","type":"post","link":"https:\/\/facthubafrica.com\/index.php\/2026\/03\/02\/insurance-sub-sector-records-21-4-growth-outpaces-banking-in-q4-2025\/","title":{"rendered":"Insurance sub-sector records 21.4% growth, outpaces banking in Q4 2025"},"content":{"rendered":"

Nigeria\u2019s insurance industry emerged as the fastest-growing segment of the financial services sector in the fourth quarter of 2025, recording a real growth rate of 21.37 per cent, according to the National Bureau of Statistics.<\/strong><\/p>\n

The figure marks a sharp rise from the 6.60 per cent growth posted in the corresponding quarter of 2024. On a full-year basis, the insurance industry recorded a real growth rate of 16.04 per cent in 2025, compared to 3.42 per cent in 2024.<\/p>\n

Data from the NBS also showed that Nigeria\u2019s aggregate Real Gross Domestic Product grew by 4.07 per cent year-on-year in Q4 2025, higher than the 3.76 per cent recorded in the same period of 2024.<\/p>\n

In nominal terms, the insurance sub-sector expanded by 30.83 per cent during the quarter under review.<\/p>\n

Despite the impressive performance, insurance accounted for 9.57 per cent of the total Finance and Insurance sector in real terms, indicating substantial room for deeper market penetration.<\/p>\n

The banking sub-sector, which represents 90.43 per cent of the Finance and Insurance sector, recorded a real growth of 7.08 per cent in Q4 2025. Although slower than insurance, banking maintained strong annual momentum, closing 2025 with a real growth rate of 14.36 per cent. In nominal terms, financial institutions grew by 26.15 per cent in the quarter.<\/p>\n

Overall, the Finance and Insurance sector grew by 8.30 per cent in real terms in Q4 2025, contributing 2.56 per cent to the nation\u2019s aggregate real GDP.<\/p>\n

Beyond financial services, the transportation and storage sector recorded a significant 21.25 per cent real growth, driven by a 23.86 per cent increase in road transport and a 15.17 per cent rebound in air transport.<\/p>\n

The information and communication sector grew by 7.55 per cent in real terms, with telecommunications expanding by 8.39 per cent and contributing 9.64 per cent to total real GDP.<\/p>\n

The oil and gas sector also sustained its recovery, as average daily crude production rose to 1.58 million barrels per day in Q4 2025, resulting in a real growth rate of 6.79 per cent.<\/p>\n

Manufacturing recorded modest growth of 1.13 per cent, while construction expanded by 5.08 per cent during the period.<\/p>\n

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Nigeria\u2019s insurance industry emerged as the fastest-growing segment of the financial services sector in the fourth quarter of<\/p>\n","protected":false},"author":3,"featured_media":995,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[83,3],"tags":[260],"class_list":["post-994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-markets","category-cover","tag-insurance-sub-records"],"aioseo_notices":[],"featured_image_urls":{"full":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/03\/insurance-1.jpg",1000,666,false],"thumbnail":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/03\/insurance-1-300x300.jpg",300,300,true],"medium":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/03\/insurance-1-300x200.jpg",300,200,true],"medium_large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/03\/insurance-1-768x511.jpg",640,426,true],"large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/03\/insurance-1.jpg",640,426,false],"1536x1536":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/03\/insurance-1.jpg",1000,666,false],"2048x2048":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/03\/insurance-1.jpg",1000,666,false],"morenews-large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/03\/insurance-1-825x575.jpg",825,575,true],"morenews-medium":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/03\/insurance-1-590x410.jpg",590,410,true]},"author_info":{"info":["Publisher"]},"category_info":"Economy & Markets<\/a> Cover<\/a>","tag_info":"Cover","comment_count":"0","_links":{"self":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts\/994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/comments?post=994"}],"version-history":[{"count":1,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts\/994\/revisions"}],"predecessor-version":[{"id":996,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts\/994\/revisions\/996"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/media\/995"}],"wp:attachment":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/media?parent=994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/categories?post=994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/tags?post=994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}