Nigeria's Economy Grows 4.43% in Q2 2026

In the second quarter of 2026, Nigeria's economy experienced a year-on-year growth of 4.43% in real terms, as reported by the National Bureau of Statistics (NBS) on Monday. This growth is an improvement from the 4.23% recorded in the same quarter of 2025 and an increase from the 3.89% growth in the first quarter of 2026.

The aggregate Gross Domestic Product (GDP) at current basic prices reached N119.29 trillion, compared to N100.73 trillion in Q2 2025, marking a nominal growth of 18.43%. The agriculture sector grew by 4.39% in real terms, up from 2.82% a year earlier, while the services sector expanded by 4.60%, compared to 3.94%.

However, industrial growth slowed to 3.96%, down from 7.46% in Q2 2025. The oil sector saw a year-on-year growth of 7.31%, down from 20.46% in Q2 2025 but up from 2.57% in Q1 2026, with average crude oil production increasing to 1.72 million barrels per day.