Nigeria's Economy Grows 4.43% in Q2 2026

In Q2 2026, Nigeria's economy recorded a growth of 4.43% year-on-year, the highest quarterly performance since Q3 2021, according to data from the Nigerian Bureau of Statistics (NBS). The most significant growth was seen in coal mining, which surged by 74.89% after a contraction of -9.80% in the previous quarter.

This rebound is attributed to increased demand in the power sector, mine rehabilitation, and energy diversification investments. Other sectors also showed varied growth; Financial Institutions slowed to 8.35% from 16.18% in Q2 2025, while the creative sector improved to 9.15% from 8.86% in Q1 2026.

Telecoms growth decreased to 10.38% from 12.24%, yet remained above the previous year's 7.39%. The Arts, Entertainment, and Recreation sector rose to 11.93%, and Cement growth increased to 12.75%.

Insurance growth accelerated to 16.13%, reflecting a robust performance across various sectors.