Nigeria's GDP Grows 4.43% in Q2 2026 Driven by Services

Nigeria's real Gross Domestic Product (GDP) increased by 4.43% in the second quarter of 2026, up from 4.23% year-on-year, according to the National Bureau of Statistics (NBS). The GDP rose from N51.20 trillion in Q2 2025 to N53.47 trillion in Q2 2026.

The services sector was the largest contributor, expanding by 4.60% year-on-year, while agriculture grew by 4.39%, significantly up from 2.82% in Q2 2025. Agricultural output surged by 17.80% quarter-on-quarter, raising its share of real GDP to 26.15%.

The industrial sector, however, faced challenges, with growth slowing to 3.96% from 7.46% in Q2 2025. The oil sector expanded by 7.31% year-on-year, with average daily crude production increasing to 1.72 million barrels per day.

Members of the Organised Private Sector, including Leye Kupoluyi of the Lagos Chamber of Commerce and Industry, expressed satisfaction with the growth figures, urging the government to maintain stable economic policies. Segun Kuti-George of the National Association of Small-Scale Industrialists also commented on the positive developments in agriculture.