Banks, insurance and other financial instiutions’ contribution to the economy fell by 15 per cent to N1.512 trillion in the third quarter, Q3’25 from N1.778 trillion in the first quarter of the year, Q1’25. This followed the second consecutive decline in the sector’s quarterly contribution to the nation’s Gross Domestic Product, GDP in the Q3’25. Vanguard analysis of the Gross Domestic Product, third quarter, Q3’ 2025 report released by the National Bureau of Statistics, NBS, showed that the sector recorded 7.1 per cent, QoQ declined to N1.651 trillion in Q2’25 from N1.778 trillion in Q1’25. This continued in the Q3’25 when the sector fell further by 8.4 per cent to N1.512 trillion......................….......READ MORE