Nigeria’s economy expanded by 4.43 per cent year-on-year in real terms in the second quarter of 2026, improving marginally from the 4.23 per cent growth recorded in the corresponding period of 2025, the National Bureau of Statistics (NBS) has reported.
The latest GDP figure represents a 0.20 percentage-point increase over the same quarter last year, signalling a modest strengthening in overall economic activity.
The growth was largely driven by improved performance in the agriculture and services sectors, even as the industrial sector recorded a significant slowdown compared with the corresponding quarter of 2025.
According to the NBS, the agricultural sector grew by 4.39 per cent in real terms in Q2 2026, up from 2.82 per cent in Q2 2025 and 3.15 per cent in the first quarter of 2026.
On a quarter-on-quarter basis, agriculture expanded by 17.80 per cent and accounted for 26.15 per cent of real GDP during the quarter. This was marginally below its 26.17 per cent contribution in Q2 2025 but significantly higher than the 23.16 per cent recorded in Q1 2026.
The services sector remained the fastest-growing of the three major sectors, expanding by 4.60 per cent year-on-year, compared with 3.94 per cent in Q2 2025.
The industrial sector, however, grew by 3.96 per cent, representing a sharp decline from the 7.46 per cent growth recorded in the corresponding quarter of 2025.
In nominal terms, Nigeria’s aggregate GDP stood at N119.29 trillion in Q2 2026, compared with N100.73 trillion in Q2 2025. This represents an 18.43 per cent year-on-year increase, reflecting both economic expansion and changes in price levels.
The NBS report also showed an improvement in crude oil production during the quarter, with Nigeria’s average daily crude oil output rising to 1.72 million barrels per day (mbpd), from 1.68 mbpd in Q2 2025 and 1.55 mbpd in Q1 2026.
The oil sector grew by 7.31 per cent year-on-year in real terms in Q2 2026, significantly lower than the 20.46 per cent growth recorded in Q2 2025, but substantially higher than the 2.57 per cent recorded in Q1 2026.
On a quarter-on-quarter basis, the sector expanded by 10.91 per cent.
Oil’s contribution to real GDP increased slightly to 4.16 per cent in Q2 2026, compared with 4.05 per cent in the corresponding quarter of 2025 and 3.92 per cent in Q1 2026.
Meanwhile, the non-oil sector maintained its dominant position in the economy, growing by 4.31 per cent year-on-year in real terms in Q2 2026, compared with 3.64 per cent in Q2 2025 and 3.94 per cent in Q1 2026.
The NBS attributed the non-oil sector’s performance mainly to growth in agriculture, information and communication, real estate, trade, financial and insurance services, manufacturing and construction.