Nigeria's GDP Grows 4.43% in Q2 2026 Amid Oil Surge
In the second quarter of 2026, Nigeria's Gross Domestic Product (GDP) grew by 4.43% year-on-year in real terms, according to a report from the National Bureau of Statistics. This growth surpasses the 4.23% recorded in the same quarter of 2025.
The nominal GDP reached N119.29 trillion, an 18.43% increase from N100.73 trillion in Q2 2025. Crude oil production rose to 1.72 million barrels per day, the highest since 2022, and the agriculture sector grew by 4.39%.
The industry sector's growth was recorded at 3.96%, while the services sector grew by 4.60%. The non-oil sector also showed significant growth, expanding by 4.31% in real terms.
Despite these positive economic indicators, Nigeria faces challenges with a poverty rate of 63%, indicating widening inequality amidst economic expansion.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
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