By Boluwatife Oshadiya | August 31, 2026
Key Points
- Nigeria’s real gross domestic product (GDP) grew 4.43% year-on-year in Q2 2026, up from 3.89% in Q1
- Agriculture and services expanded while industrial growth slowed to 3.96% from 7.46% a year earlier
- Oil-sector growth accelerated to 7.31%, while the non-oil sector expanded by 4.31% during the quarter
Main Story
Nigeria’s real gross domestic product (GDP) grew by 4.43% year-on-year in the second quarter of 2026, up from 3.89% in Q1 and 4.23% in Q2 2025, according to the National Bureau of Statistics (NBS).
The latest figure represents a 0.20 percentage-point increase from the corresponding quarter of 2025 and marks a stronger pace of expansion during the April–June period.
The NBS said agriculture grew by 4.39% in Q2 2026, compared with 2.82% in the same quarter of 2025. The services sector also strengthened, expanding by 4.60% from 3.94% a year earlier.
“Agriculture grew by 4.39%, an improvement from the 2.82% recorded in the corresponding quarter of 2025,” the National Bureau of Statistics said.
However, industrial growth weakened significantly during the quarter. The sector expanded by 3.96%, compared with 7.46% in Q2 2025.
The services sector remained the largest contributor to real economic output, accounting for 56.62% of GDP, compared with 56.53% in Q2 2025.
The NBS data also showed stronger performances in both the oil and non-oil segments. Oil-sector growth rose to 7.31%, while the non-oil sector expanded by 4.31% year-on-year. Average daily oil production increased to 1.72 million barrels per day from 1.55 million barrels per day in Q1 2026.
What’s Being Said
“The services sector recorded a growth of 4.60% from 3.94% in the same quarter of 2025,” the National Bureau of Statistics said.
Reuters reported that the latest expansion reflected improved performance in both the oil and non-oil sectors, although the overall growth rate remains below the Federal Government’s longer-term 7% target.
What’s Next
- Economic policymakers will be watching whether the stronger Q2 performance can be sustained through the second half of 2026
- Continued recovery in crude production and expansion in non-oil activities will remain important to the pace and composition of growth
- The performance of industry will require close attention after its growth rate fell sharply from 7.46% in Q2 2025 to 3.96% in Q2 2026
Bottom Line
The Bottom Line: Nigeria’s Q2 growth shows that economic expansion accelerated from the first quarter, supported by stronger services, agriculture and oil output. However, the sharp slowdown in industrial growth means the headline improvement is not yet broad-based across the productive economy.
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