Nigeria’s GDP Growth Rises To 4.43% In Q2 2026

Nigeria’s Gross Domestic Product (GDP) grew by 4.43 per cent year-on-year in real terms in the second quarter of 2026, according to the National Bureau of Statistics (NBS).

The latest GDP report released on Monday showed that the growth rate increased from the 4.23 per cent recorded in the second quarter of 2025, reflecting stronger performances in the agriculture and services sectors.

Agriculture grew by 4.39 per cent, up from 2.82 per cent in Q2 2025, while the services sector expanded by 4.60 per cent compared with 3.94 per cent a year earlier. However, industry growth slowed to 3.96 per cent from 7.46 per cent recorded in Q2 2025.

The services sector remained the largest contributor to economic output, accounting for 56.62 per cent of real GDP during the quarter, slightly higher than the 56.53 per cent recorded in the same period last year.

In nominal terms, Nigeria’s GDP stood at N119.29 trillion in Q2 2026, representing an 18.43 per cent increase from N100.73 trillion recorded in Q2 2025.

The oil sector also recorded growth, expanding by 7.31 per cent in real terms. Average daily crude oil production increased to 1.72 million barrels per day from 1.68 million barrels per day in Q2 2025 and 1.55 million barrels per day in Q1 2026.

Meanwhile, the non-oil sector grew by 4.31 per cent, driven largely by agriculture, telecommunications, real estate, trade, financial services, manufacturing and construction.

The non-oil sector accounted for 95.84 per cent of Nigeria’s real GDP in Q2 2026, while the oil sector contributed 4.16 per cent.

Overall, the figures indicate continued expansion of the Nigerian economy, although the slowdown in industrial growth remains a key area of concern.