Nigeria’s economy grows 4.43% in Q2 – NBS

According to the National Bureau of Statistics, Nigeria's economy expanded by 4.43 percent year-on-year in real terms in the second quarter of 2026, marking an improvement from both the 4.23 percent growth in the same period last year and the 3.89 percent increase in the first quarter of 2026. The National Bureau of Statistics published these findings in its latest Nigerian Gross Domestic Product Report for Q2 2026, which features rebased GDP estimates at constant 2019 prices.

Nominal growth in GDP stood at 18.43 percent, with aggregate GDP at current basic prices reaching N119.29tn, up from N100.73tn in Q2 2025. Agriculture's contribution to GDP was 26.15 percent, slightly below the 26.17 percent recorded in the previous quarter, but higher than the 23.16 percent in the prior quarter. The oil sector saw a growth of 7.31 percent year-on-year, down from 20.46 percent in Q2 2025 but up from 2.57 percent in Q1 2026.

The non-oil sector expanded by 4.31 percent, driven mainly by "Agriculture (Crop production); Information and Communication (Telecommunications); Real Estate; Trade; Financial & Insurance (Financial Institutions); Manufacturing (Cement); and Construction." Information and Communication experienced the highest growth rate within the non-oil sector at 9.62 percent, with its share of real GDP rising to 11.74 percent.

Other significant growth was seen in Construction at 6.75 percent and Trade at 2.40 percent, while Mining and quarrying expanded by 6.37 percent. However, Electricity, gas, steam, and air-conditioning supply contracted by 10.63 percent, contributing to the slowdown in overall economic growth.