Nigeria’s economy recorded stronger growth in the second quarter of 2026, with real Gross Domestic Product (GDP) rising by 4.43 percent, according to the National Bureau of Statistics (NBS). The latest figure represents a modest improvement from the 4.23 percent recorded in Q2 2025, putting the year-on-year increase at 0.20 percentage points.
The NBS, in its latest GDP report released on Monday, said the agriculture sector grew by 4.39 percent, a notable improvement from the 2.82 percent recorded in the corresponding quarter of 2025. The services sector also expanded by 4.60 percent, compared with 3.94 percent a year earlier, and remained the biggest contributor to Nigeria’s economic output, accounting for 56.62 percent of real GDP during the quarter.
The industry sector, however, recorded slower growth, expanding by 3.96 percent compared with 7.46 percent in Q2 2025. In nominal terms, Nigeria’s aggregate GDP stood at N119.27 trillion, representing an 18.43 percent year-on-year increase from the N100.7 trillion recorded in Q2 2025. Real GDP for the quarter stood at N53.47 trillion.
The oil sector also recorded a mixed performance. Average daily crude oil production increased to 1.63 million barrels per day (mbpd) from 1.55 mbpd in Q1 2026, but remained below the 1.68 mbpd recorded in Q2 2025. Despite the lower year-on-year production level, the oil sector’s real growth reached 7.31 percent, while its contribution to total real GDP rose slightly to 4.16 percent from 4.05 percent in Q2 2025.
Meanwhile, the non-oil sector remained the backbone of Nigeria’s economy, contributing 95.84 percent of real GDP in Q2 2026. The sector grew by 4.31 percent, supported largely by crop production, telecommunications, real estate, trade, financial institutions, cement manufacturing and construction. The latest GDP figures point to continued expansion across key parts of the economy, although the slower industrial-sector growth and softer oil production compared with last year remain areas to watch.
source: The cable
