Nigeria’s real Gross Domestic Product (GDP) grew by 4.43 per cent year-on-year in the second quarter of 2026, surpassing the 4.23 per cent recorded in the same period of 2025 and the 3.89 per cent growth posted in Q1 2026.
The Federal Ministry of Finance disclosed this in a statement issued in Abuja on Tuesday, September 1, describing the latest figures as evidence of sustained and increasingly broad-based economic expansion.
The Q2 performance raised Nigeria’s real GDP growth for the first half of 2026 to 4.16 per cent, up from 3.68 per cent during the corresponding period in 2025.
The ministry said the expansion was becoming more widespread, with 27 economic subsectors recording growth of more than three per cent in Q2 2026, compared with 23 subsectors in Q2 2025.
Manufacturing, agriculture and services all recorded stronger performances during the quarter. Manufacturing grew by 3.24 per cent, more than double the 1.60 per cent recorded a year earlier. Agriculture expanded by 4.39 per cent, compared with 2.82 per cent in Q2 2025, while the services sector grew by 4.60 per cent, up from 3.94 per cent.
The oil sector also recorded significant improvement, with average crude oil production rising to 1.72 million barrels per day, compared with 1.55 million barrels per day in Q1 2026. The sector grew by 7.31 per cent year-on-year, while the non-oil sector expanded by 4.31 per cent and accounted for 95.84 per cent of real GDP.
The ministry also attributed part of the increase in Nigeria’s economy in US-dollar terms to the relative stability and appreciation of the naira. According to the government, the currency appreciated by more than 12 per cent between the first half of 2025 and the first half of 2026, contributing to an estimated 17 per cent expansion of the economy in dollar terms.
The government said sustained economic momentum, alongside its social programmes and ongoing reforms, could boost incomes, improve purchasing power and help reduce poverty.
It added that Nigeria was positioned to strengthen its status among Africa’s largest economies and move towards its target of achieving a $1 trillion economy by 2030.
The ministry further stated that the International Monetary Fund had ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting that the country would account for about 1.5 per cent of global growth.
It said continued macroeconomic stability, stronger performance across productive sectors and improved investor confidence could accelerate Nigeria’s economic growth and support its ambition of becoming Africa’s largest economy by 2028.
However, the government acknowledged that maintaining policy consistency and fully implementing ongoing reforms would be crucial to sustaining the growth trajectory and ensuring that the benefits of economic expansion translate into improved living standards for ordinary Nigerians.
