Nigeria's GDP Grows 4.43% in Q2 2026, Highest in 5 Years

Nigeria's economy recorded its strongest quarterly growth in five years during the second quarter of 2026, with real Gross Domestic Product (GDP) expanding by 4.43% year-on-year, according to data from the National Bureau of Statistics (NBS). This growth marked an improvement from the 3.89% growth in Q1 2026 and the 3.87% full-year growth in 2025.

The 4.43% expansion is the highest since Q2 2021, which saw a growth of 5.01% following a post-COVID-19 pandemic recovery. Key sectors contributing to this growth included agriculture and telecommunications, which together accounted for approximately 2.1 percentage points of the overall growth.

Agriculture contributed about 1.15 percentage points, bolstered by improved livestock production, while telecommunications added roughly 0.95 percentage points. The oil sector also played a significant role in boosting the economy.

However, the recovery was uneven, with persistent power supply issues continuing to hinder overall economic performance.