Nigeria’s economy grew by 4.43 per cent year-on-year in real terms in the second quarter of 2026, strengthening from 3.89 per cent in the first quarter and 4.23 per cent recorded in the same period of 2025.
The National Bureau of Statistics (NBS) disclosed this in its Gross Domestic Product (GDP) Report for Q2 2026.
The latest growth represents the strongest quarterly expansion since Q3 2024, when the economy grew by 3.86 per cent. Nigeria’s economy expanded by 3.87 per cent in 2025, compared with 3.38 per cent in 2024.
In nominal terms, GDP stood at ₦119.29 trillion during the quarter, while real GDP was estimated at ₦53.47 trillion.
The Report says that the growth was supported by improved performances in both the oil and non-oil sectors, although the industrial sector recorded a significant slowdown compared with a year earlier.
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The services sector remained the largest contributor to real GDP, accounting for 56.62 per cent. It grew by 4.60 per cent, up from 3.94 per cent in Q2 2025.
Agriculture contributed 26.15 per cent to real GDP and grew by 4.39 per cent, compared with 2.82 per cent a year earlier.
The industrial sector however, grew by 3.96 per cent, down sharply from 7.46 per cent in Q2 2025. It accounted for 17.23 per cent of real GDP.
The oil sector recorded stronger growth, supported by increased crude oil production.
Average daily production rose to 1.72 million barrels per day (bpd) in Q2, from 1.55 million bpd in Q1 and 1.68 million bpd in Q2 2025.
Oil-sector growth accelerated to 7.31 per cent year-on-year, compared with 2.57 per cent in the previous quarter.
On a quarter-on-quarter basis, the sector grew by 10.91 per cent.
Despite the improvement, oil accounted for only 4.16 per cent of real GDP, while the non-oil sector contributed 95.84 per cent.
The non-oil economy grew by 4.31 per cent, compared with 3.64 per cent in Q2 2025 and 3.94 per cent in Q1 2026.
The NBS attributed the non-oil sector’s performance to activities including agriculture, information and communication, real estate, trade, financial and insurance services as well as manufacturing and construction.
