Nigeria’s Gross Domestic Product expanded by 4.43% year-on-year in real terms in the second quarter of 2026, outpacing the 4.23% growth recorded during the corresponding period of 2025.
Data released on Monday by the National Bureau of Statistics shows the performance represents a 0.20 percentage-point improvement compared to last year, driven by steady gains across the agricultural and services sectors.
Agricultural output rose by 4.39% during the quarter, rebounding sharply from 2.82% in Q2 2025. Meanwhile, the oil sector expanded by 7.3%, providing additional momentum for aggregate real output.
The latest figures also highlight an acceleration from the 3.89% real GDP growth posted in the first quarter of 2026, signaling a strengthening momentum in overall economic activity midway through the year.
The macroeconomic expansion coincides with a period of moderating headline inflation, which eased to 15.43% in July 2026, supported by relative exchange rate stability and improved domestic agricultural production.
Despite the positive trajectory, current growth levels remain below the federal government’s annual target of 7%, as high borrowing costs and industrial sector headwinds continue to constrain broader private sector expansion.
