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Nigeria’s economy recorded a 4.43 per cent year-on-year growth in real terms in the second quarter of 2026, surpassing the 4.23 per cent growth posted in the same period of 2025, according to the National Bureau of Statistics.
The figure also represents an improvement from the 3.89 per cent growth recorded in the first quarter of 2026.
The NBS disclosed this in its latest Nigerian Gross Domestic Product Report for Q2 2026, which contains rebased GDP estimates at constant 2019 prices.
“Gross Domestic Product grew by 4.43 per cent (year-on-year) in real terms in the second quarter of 2026, higher than the 4.23 per cent recorded in the second quarter of 2025,” the bureau said.
Aggregate GDP at current basic prices stood at N119.29tn, compared with N100.73tn in Q2 2025, representing nominal growth of 18.43 per cent.
The report showed that agriculture grew by 4.39 per cent in real terms, up from 2.82 per cent a year earlier, while services expanded by 4.60 per cent, compared with 3.94 per cent.
Industrial growth, however, slowed to 3.96 per cent from 7.46 per cent in the corresponding period of 2025.
Services remained the economy’s largest broad sector, contributing 56.62 per cent to GDP, slightly above the 56.53 per cent recorded a year earlier.
Agriculture accounted for 26.15 per cent of real GDP, marginally below 26.17 per cent in Q2 2025 but above 23.16 per cent in the preceding quarter. Crop production remained the sector’s major driver.
The oil sector expanded by 7.31 per cent year-on-year, slowing from 20.46 per cent in Q2 2025 but accelerating from 2.57 per cent in the first quarter of 2026.
Average crude oil production increased to 1.72 million barrels per day from 1.68 million barrels per day a year earlier and 1.55 million barrels per day in Q1 2026.
Oil contributed 4.16 per cent to real GDP, compared with 4.05 per cent a year earlier and 3.92 per cent in the preceding quarter.
The non-oil sector, meanwhile, grew by 4.31 per cent, against 3.64 per cent in Q2 2025 and 3.94 per cent in Q1 2026.
The NBS said the sector was driven mainly by “Agriculture (Crop production); Information and Communication (Telecommunications); Real Estate; Trade; Financial & Insurance (Financial Institutions); Manufacturing (Cement); and Construction.”
It accounted for 95.84 per cent of real GDP, down slightly from 95.95 per cent a year earlier.
Among major sectors, Information and Communication grew by 9.62 per cent, with its contribution to real GDP rising to 11.74 per cent from 11.18 per cent in Q2 2025.
Manufacturing expanded by 3.24 per cent, but its share of real GDP declined to 7.72 per cent from 7.81 per cent a year earlier. Construction grew by 6.75 per cent and accounted for 3.68 per cent of GDP.
Trade, which accounted for 17.93 per cent of real GDP, grew by 2.40 per cent, improving from 1.29 per cent in Q2 2025.
Mining and quarrying expanded by 6.37 per cent, while water supply, sewerage and waste management grew by 11.24 per cent. Accommodation and food services increased by 6.96 per cent, while transportation and storage expanded by 5.70 per cent.
Arts, entertainment and recreation posted one of the strongest real growth rates at 11.93 per cent, while real estate grew by 3.76 per cent. Finance and insurance recorded real growth of 9.29 per cent, according to the report.
Other sectors also expanded, with administrative and support services growing by 3.27 per cent, public administration by 1.94 per cent, education by 2.76 per cent, and human health and social services by 2.64 per cent.
However, electricity, gas, steam and air-conditioning supply contracted by 10.63 per cent, compared with an 11.47 per cent expansion a year earlier, making it one of the major drags on growth.
Other services also contracted by 0.70 per cent, although this represented an improvement from the decline recorded in both Q2 2025 and the preceding quarter.
