Nigeria's GDP Grows 3.89% in Q1 2026 Amid Challenges

Nigeria's Gross Domestic Product (GDP) expanded by 3.89% year-on-year in the first quarter of 2026, according to a report from the National Bureau of Statistics (NBS). This growth is an increase from 3.13% recorded in the first quarter of 2025.

The agricultural sector grew by 3.15%, a slight improvement from the previous year's 3.08%. The industrial sector recorded a growth of 3.50%, compared to 3.42% in Q1 2025, while the services sector showed a growth of 4.31%, down from 4.33% in the same quarter of 2025.

In nominal terms, the economy is valued at N110.78 trillion, reflecting a 17.79% increase compared to N94.05 trillion in Q1 2025. The oil sector grew by 2.57%, although this represents a decrease from 6.79% in Q4 2025.

The non-oil sector grew by 3.94%, driven mainly by telecommunications, agriculture, trade, and construction. Dr. Maxwel Chime noted that despite persistent structural weaknesses, the economy is increasingly resilient outside the oil sector.