Nigeria’s economy recorded stronger growth in the second quarter of 2026, with real Gross Domestic Product (GDP) rising by 4.43 per cent year-on-year, compared with 4.23 per cent in Q2 2025 and 3.89 per cent in Q1 2026.
The latest figures indicate that economic growth is gaining momentum, with real GDP growth for the first half of 2026 reaching 4.16 per cent, up from 3.68 per cent during the same period in 2025.
The expansion was also more widespread across the economy. In Q2 2026, a total of 27 economic subsectors recorded real growth of more than 3.0 per cent, compared with 23 subsectors in the corresponding quarter of 2025.
Manufacturing, Agriculture and Services Drive Growth
Nigeria’s key productive sectors recorded notable improvements during the period.
Manufacturing expanded by 3.24 per cent, more than twice the 1.60 per cent growth recorded in Q2 2025, pointing to stronger industrial activity.
Agriculture also performed better, growing by 4.39 per cent compared with 2.82 per cent a year earlier. The improvement reflects stronger production and performance across the agricultural value chain.
Services remained the largest contributor to economic expansion, growing by 4.60 per cent in Q2 2026, compared with 3.94 per cent in Q2 2025.
The relative stability and appreciation of the naira also contributed to the increase in the size of the economy when measured in U.S. dollar terms.
According to the statement, the naira appreciated by more than 12 per cent between the first half of 2025 and the first half of 2026. As a result, Nigeria’s economy expanded by approximately 17 per cent in dollar terms over the same period.
The government said sustained growth, combined with its social programmes, could help strengthen dollar incomes, improve purchasing power and lift millions of Nigerians out of poverty.
With the economy maintaining its growth trajectory, Nigeria is seeking to strengthen its position among Africa’s largest economies and move towards the government’s target of achieving a $1 trillion economy by 2030.
The statement also noted that the International Monetary Fund has ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting that the country will account for about 1.5 per cent of global growth this year.
It added that continued macroeconomic stability, stronger growth across productive sectors and improving investor confidence could accelerate Nigeria’s ambition to become Africa’s largest economy by 2028.
The latest performance highlights the importance of maintaining economic reforms and policy consistency as the government seeks to ensure that stronger headline growth translates into improved living standards.
The government said it remains focused on driving inclusive growth and turning the country’s macroeconomic gains into broader prosperity for Nigerian households.
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