Nigeria’s Gross Domestic Product (GDP) grew by 4.43 per cent year-on-year in real terms in the second quarter of 2026, according to the National Bureau of Statistics (NBS).
The latest GDP report released by the bureau on Monday showed that the growth rate was higher than the 4.23 per cent recorded in Q2 2025.
The agriculture sector recorded a 4.39 per cent growth in Q2 2026, representing an improvement from the 2.82 per cent recorded in the corresponding quarter of 2025.
However, industry growth slowed to 3.96 per cent from 7.46 per cent recorded in Q2 2025.
The services sector grew by 4.60 per cent, up from 3.94 per cent recorded in the same quarter of 2025.
The services sector also increased its contribution to overall economic output, accounting for 56.62 per cent of real GDP in Q2 2026, compared with 56.53 per cent in Q2 2025.
In nominal terms, aggregate GDP at basic prices stood at N119.29 trillion during the quarter under review, compared with N100.73 trillion recorded in Q2 2025. This represents a year-on-year nominal growth of 18.43 per cent.
The report also showed an increase in crude oil production during the quarter. Nigeria recorded average daily oil production of 1.72 million barrels per day (mbpd), compared with 1.68 mbpd in Q2 2025 and 1.55 mbpd in Q1 2026.
On the oil sector, the NBS said:
“The real growth of the oil sector was 7.31 (year-on-year) in Q2 2026, indicating a decrease of 13.15 percentage points relative to the rate recorded in the corresponding quarter of 2025 (20.46per cent).
“Growth increased by 4.74percentage points when compared to Q1 2026, which was 2.57per cent. On a quarter-on-quarter basis, the oil sector recorded a growth rate of 10.91per cent in Q2 2026.
“The Oil sector contributed 4.16per cent to the total real GDP in Q2 2026, up from the figure recorded in the corresponding period of 2025 at 4.05per cent. and up from the preceding quarter, where it contributed 3.92per cent,”
The non-oil sector also expanded during the quarter, recording 4.31 per cent growth in real terms.
The NBS said:
“This rate was higher by 0.67percentage points compared to the rate recorded in the same quarter of 2025, which was 3.64per cent, and higher than the 3.94per cent recorded in the first quarter of 2026.
“This sector was driven in the second quarter of 2026 mainly by Agriculture (Crop production); Information and Communication (Telecommunications); Real Estate; Trade; Financial & Insurance (Financial Institutions); Manufacturing (Cement); and Construction, accounting for positive GDP growth.
“In real terms, the non-oil sector contributed 95.84per cent to the nation’s GDP in the second quarter of 2026, lower than the share recorded in the second quarter of 2025, which was 95.95per cent, and lower than the first quarter of 2026, recorded as 96.08per cent,” the report explained.
Faridah Abdulkadiri
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