Nigeria’s economy grew by 4.43 per cent in real terms in the second quarter (Q2) of 2026, according to the latest Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS) on Monday.
The latest growth rate represents a 0.20 percentage-point increase compared with the 4.23 per cent recorded in Q2 2025.
The NBS said the agriculture sector grew by 4.39 per cent, improving significantly from the 2.82 per cent recorded in the corresponding quarter of 2025.
The industry sector, however, grew by 3.96 per cent, down from 7.46 per cent in Q2 2025, while the services sector expanded by 4.60 per cent, compared with 3.94 per cent in the same period last year.
The services sector remained the largest contributor to Nigeria’s GDP, accounting for 56.62 per cent of total GDP in Q2 2026, slightly higher than its 56.53 per cent share in Q2 2025.
GDP Rises to ₦119.27tn
In nominal terms, Nigeria’s aggregate GDP stood at ₦119.27 trillion during Q2 2026.
The figure represents an 18.43 per cent year-on-year increase compared with the ₦100.7 trillion recorded in Q2 2025.
Real GDP, which removes the effect of price changes, stood at ₦53.47 trillion during the quarter under review.
Oil Production Rises
The NBS also reported an average daily crude oil production of 1.63 million barrels per day (mbpd) in Q2 2026.
Although production increased from 1.55 mbpd in Q1 2026, it remained below the 1.68 mbpd recorded in Q2 2025.
The real growth of the oil sector stood at 7.31 per cent year-on-year, significantly lower than the 20.46 per cent recorded in Q2 2025.
However, the sector’s growth improved from the 2.57 per cent recorded in Q1 2026.
On a quarter-on-quarter basis, the oil sector grew by 10.91 per cent.
The oil sector contributed 4.16 per cent to total real GDP in Q2 2026, compared with 4.05 per cent in Q2 2025 and 3.92 per cent in the preceding quarter.
Non-Oil Sector Accounts for 95.84%
The non-oil sector continued to dominate Nigeria’s economic output, contributing 95.84 per cent of real GDP in Q2 2026.
The NBS said the sector grew by 4.31 per cent in real terms during the quarter.
That growth was higher than the 3.64 per cent recorded in Q2 2025 and the 3.94 per cent recorded in Q1 2026.
According to the bureau, the non-oil sector’s performance was driven mainly by agriculture, information and communication, real estate, trade, financial and insurance services, manufacturing and construction.
Crop production, telecommunications, financial institutions and cement manufacturing were among the activities that contributed to the sector’s performance.
The latest figures indicate continued expansion in Nigeria’s overall economic activity, although the sharp decline in industrial-sector growth and the slower year-on-year expansion of the oil sector remain areas to watch.
Source: National Bureau of Statistics (NBS), Q2 2026 GDP Report.
