Nigeria’s economy posts stronger growth in second quarter
Nigeria’s economy saw significant growth in the second quarter of 2026, according to the National Bureau of Statistics. The latest report highlights improvements across several sectors, including agriculture, services, and oil. The non-oil sector also contributed strongly to overall GDP. The data shows both gains and some slowdowns in key industries.
What we know
- The economy grew by 4.43% year-on-year in real terms in the second quarter of 2026, up from 4.23% in the same period of 2025, as stated by the National Bureau of Statistics.
- Aggregate GDP at current basic prices reached N119.29tn, compared to N100.73tn in Q2 2025, marking an 18.43% nominal growth.
- Agriculture grew by 4.39% in real terms, up from 2.82% a year earlier, while services expanded by 4.60% compared to 3.94%.
- The oil sector expanded by 7.31% year-on-year, slowing from 20.46% in Q2 2025 but improving from 2.57% in Q1 2026.
- Major sectors like Information and Communication, manufacturing, construction, and trade all recorded positive growth, while electricity, gas, steam and air-conditioning supply contracted by 10.63%, compared with an 11.47% expansion a year earlier.
