Nigeria’s Economy Beats Last Year’s Growth as GDP Hits 4.43% in Q2 2026

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

The NBS disclosed this in its latest GDP report released on Monday, noting that the growth rate was higher than the 4.23 per cent recorded in the corresponding quarter of 2025.

The latest figure represents a 0.20 percentage-point increase year-on-year.

According to the report, the agriculture sector grew by 4.39 per cent in Q2 2026, compared with 2.82 per cent recorded in Q2 2025.

The industry sector, however, grew by 3.96 per cent, down from 7.46 per cent in the corresponding quarter of 2025.

The services sector recorded a growth rate of 4.60 per cent, compared with 3.94 per cent in Q2 2025.

The NBS said the services sector remained the largest contributor to aggregate economic output, accounting for 56.62 per cent of real GDP during the quarter, slightly higher than the 56.53 per cent recorded in Q2 2025.

In nominal terms, Nigeria’s aggregate GDP stood at N119.27 trillion in Q2 2026, representing an 18.43 per cent increase from the N100.70 trillion recorded in the corresponding quarter of 2025.

The bureau put real GDP at N53.47 trillion during the quarter.

It also reported that average daily crude oil production increased to 1.63 million barrels per day (mbpd) in Q2 2026, compared with 1.55 mbpd in Q1 2026.

However, the Q2 production level was 0.05 mbpd lower than the 1.68 mbpd recorded in Q2 2025.

The NBS said the real growth of the oil sector stood at 7.31 per cent year-on-year in Q2 2026, compared with 20.46 per cent recorded in Q2 2025.

It said the figure represented a 13.15 percentage-point decline from the corresponding quarter of 2025, but was 4.74 percentage points higher than the 2.57 per cent recorded in Q1 2026.

On a quarter-on-quarter basis, the oil sector grew by 10.91 per cent in Q2 2026.

The oil sector contributed 4.16 per cent to total real GDP during the quarter, up from 4.05 per cent in Q2 2025 and 3.92 per cent in Q1 2026.

The non-oil sector accounted for 95.84 per cent of real GDP in Q2 2026, slightly below the 95.95 per cent recorded in Q2 2025.

The NBS said the non-oil sector grew by 4.31 per cent in real terms during the quarter, representing an increase of 0.67 percentage points over the 3.64 per cent recorded in Q2 2025.

The rate was also higher than the 3.94 per cent recorded in Q1 2026.

The bureau attributed the growth in the non-oil sector mainly to agriculture, particularly crop production, as well as information and communication, including telecommunications.

Other major contributors included real estate, trade, financial and insurance services, particularly financial institutions, manufacturing, especially cement production, and construction.