Nigeria’s economy recorded a 3.89 per cent year-on-year growth in real Gross Domestic Product (GDP) in the first quarter of 2026, according to the Q1 2026 GDP report released on Monday by the National Bureau of Statistics.
The growth rate surpassed the 3.13 per cent recorded in the corresponding period of 2025, reflecting improved performance across key sectors of the economy.
The agriculture sector grew by 3.15 per cent during the review period, representing a significant improvement from the 0.07 per cent growth recorded in the first quarter of 2025.
Similarly, the industry sector expanded by 3.50 per cent, slightly above the 3.42 per cent posted in Q1 2025, while the services sector recorded a 4.31 per cent growth rate compared to 4.33 per cent in the same period last year.
The services sector remained the largest contributor to the nation’s GDP, accounting for 57.73 per cent of aggregate GDP in Q1 2026, up from 57.50 per cent recorded in the corresponding quarter of 2025.
In nominal terms, aggregate GDP at basic prices stood at N110.79 trillion in the first quarter of 2026, higher than the N94.05 trillion recorded in Q1 2025. This represents a year-on-year nominal growth of 17.79 per cent.
The oil sector recorded a real growth rate of 2.57 per cent year-on-year in Q1 2026, an increase from the 1.87 per cent recorded in the corresponding quarter of 2025. However, the sector’s growth slowed by 4.22 percentage points compared to the 6.79 per cent growth posted in the fourth quarter of 2025.
On a quarter-on-quarter basis, the oil sector grew by 9.31 per cent in Q1 2026. Its contribution to total real GDP stood at 3.92 per cent, slightly lower than the 3.97 per cent recorded in Q1 2025, but higher than the 2.87 per cent contribution in the preceding quarter.
The non-oil sector grew by 3.94 per cent in real terms during the quarter under review, higher than the 3.19 per cent growth rate recorded in the first quarter of 2025, though marginally below the 3.99 per cent growth achieved in Q4 2025.
According to the report, growth in the non-oil sector was driven mainly by Information and Communication (Telecommunications), crop production, trade, cement manufacturing, financial and insurance institutions, real estate, construction, and transportation and storage services, particularly road transport.
Overall, the non-oil sector contributed 96.08 per cent to Nigeria’s GDP in Q1 2026, slightly higher than the 96.03 per cent recorded in the same quarter of 2025, but lower than the 97.13 per cent contribution posted in the fourth quarter of 2025.
