Nigeria's GDP Grows 3.89% in Q1 2026 Driven by Agriculture

Nigeria's economy recorded a real GDP growth of 3.89% year-on-year in the first quarter of 2026, an improvement from the 3.13% growth recorded in the corresponding period of 2025, according to fresh GDP data released by the National Bureau of Statistics. The latest figures indicate continued expansion across major sectors of the economy, supported by stronger agricultural activity and steady industrial output.

The nominal GDP at basic prices rose to N110.79 trillion in Q1 2026 from N94.05 trillion in Q1 2025, representing a nominal year-on-year growth of 17.79%. The economy remains broadly driven by non-oil activities, although the oil sector posted moderate growth despite lower production volumes during the quarter.

The report shows that the agricultural sector recorded a significant rebound, with key growth drivers including telecommunications, crop production, trade, cement manufacturing, financial services, construction, transport, and real estate. The industrial sector maintained stable performance, growing by 3.50% in Q1 2026 compared to 3.42% in the same period in 2025.