Abuja, September 1, 2026: Nigeria’s economy recorded stronger growth in the second quarter of 2026, with real Gross Domestic Product (GDP) expanding by 4.43 per cent year-on-year, up from 4.23 per cent in the corresponding quarter of 2025 and 3.89 per cent in the first quarter of 2026.
The latest performance has lifted real GDP growth for the first half of 2026 to 4.16 per cent, compared with 3.68 per cent recorded during the corresponding period of 2025. The figures indicate a continued strengthening of economic activity as growth gathers momentum across several areas of the economy.
According to the Federal Government, the expansion is also becoming more broad-based. In the second quarter, 27 economic subsectors recorded real growth of more than 3.0 per cent, compared with 23 subsectors in Q2 2025. This suggests that economic expansion is extending beyond a limited number of industries.
The productive sectors recorded notable improvements during the quarter. Manufacturing grew by 3.24 per cent, more than double the 1.60 per cent recorded in Q2 2025. Agriculture expanded by 4.39 per cent, compared with 2.82 per cent a year earlier, while the services sector, which remains the largest contributor to economic output, grew by 4.60 per cent, up from 3.94 per cent in Q2 2025.
The oil sector also strengthened significantly during the period. Oil-sector growth reached 7.31 per cent year-on-year in Q2 2026, while average daily crude oil production increased to 1.72 million barrels per day from 1.55 million barrels per day in the first quarter and 1.68 million barrels per day in Q2 2025.
The non-oil sector remained the dominant force in the economy, recording 4.31 per cent real growth during the quarter. It accounted for 95.84 per cent of real GDP, highlighting the continued importance of sectors outside crude oil to Nigeria’s overall economic performance.
The services sector continued to dominate overall economic output, contributing 56.62 per cent of total real GDP in Q2 2026, slightly higher than its 56.53 per cent contribution in the same quarter of 2025.
Beyond the real growth figures, the Federal Government said exchange-rate stability and appreciation of the naira have also increased the size of Nigeria’s economy when measured in U.S. dollar terms. The government stated that the naira appreciated by more than 12 per cent between the first halves of 2025 and 2026, contributing to an estimated 17 per cent expansion of the economy in dollar terms over the period.
The government believes that sustained economic growth, combined with social programmes and improving macroeconomic conditions, could strengthen dollar incomes, improve purchasing power and help lift millions of Nigerians out of poverty.
The latest figures have also renewed the Federal Government’s confidence in its ambition to build a $1 trillion economy by 2030. The government says the current trajectory places Nigeria in a stronger position to consolidate its status as one of Africa’s largest economies and eventually regain the position of Africa’s largest economy.
The Federal Government also cited projections from the International Monetary Fund which place Nigeria among the top contributors to global real GDP growth in 2026. The government said the IMF projects Nigeria to account for approximately 1.5 per cent of global growth this year.
The government further argued that continued macroeconomic stability, sustained growth across productive sectors and improving investor confidence could accelerate Nigeria’s emergence as Africa’s largest economy by 2028.
The latest GDP figures, however, come against the backdrop of broader economic challenges facing Nigerians, meaning that stronger headline growth will still need to translate into improved household welfare, employment opportunities and purchasing power.
The Federal Government said the figures reinforce the need to sustain ongoing economic reforms and maintain policy consistency as the benefits of the reforms begin to reach more households.
It reiterated its commitment to accelerating inclusive economic growth and ensuring that the gains recorded at the macroeconomic level translate into improved living standards and shared prosperity for Nigerians.