Nigeria’s GDP grows 4.43% in Q2’26 — NBS
Nigeria’s Economy Grows 4.43% in Second Quarter of 2026, NBS Reports
By Elizabeth Adegbesan
ABUJA — Nigeria’s economy experienced a year-on-year growth of 4.43% in real terms during the second quarter of 2026, an increase from the 4.23% observed in the same period of 2025, according to a report released by the National Bureau of Statistics (NBS) on Monday.
The NBS gross domestic product (GDP) report for Q2 2026 indicates that both the oil and non-oil sectors contributed to this growth, with the oil sector expanding by 7.31% and the non-oil sector by 4.31% compared to the previous year.
The agricultural sector saw a notable growth of 4.39% in Q2 2026, up from 2.82% in the second quarter of 2025. Conversely, the industrial sector’s growth slowed to 3.96%, a decrease from 7.46% in Q2 2025. The services sector, however, recorded an increase to 4.60%, up from 3.94% in the previous year.
In terms of overall GDP contribution, the services sector remained the largest, accounting for 56.62% in Q2 2026, a slight increase from 56.53% in the same quarter the previous year.
Oil Sector Performance
The NBS reported that Nigeria’s average daily oil production reached 1.72 million barrels per day (mbpd) in Q2 2026, up from 1.68 mbpd in Q2 2025. This marks an increase of 0.17 mbpd compared to the 1.55 mbpd recorded in the first quarter of 2026.
Despite the oil sector’s real growth rate of 7.31% year-on-year in Q2 2026, this figure reflects a significant decrease of 13.15 percentage points from the 20.46% growth rate in the same quarter of 2025. However, the sector’s growth represented a notable improvement of 4.74 percentage points compared to the 2.57% recorded in Q1 2026. On a quarter-on-quarter basis, the oil sector showed a growth of 10.91%.
The oil sector contributed 4.16% to total real GDP in Q2 2026, up from 4.05% in Q2 2025 and 3.92% in Q1 2026.
Non-Oil Sector Growth
The non-oil sector’s growth of 4.31% in real terms in Q2 2026 marks an increase of 0.67 percentage points from the 3.64% recorded in the same quarter last year. This also surpassed the 3.94% growth seen in Q1 2026.
The NBS highlighted that the performance of the non-oil sector was primarily driven by agriculture, particularly crop production, alongside significant contributions from information and communication (especially telecommunications), real estate, trade, financial and insurance services, manufacturing (notably cement), and construction.
In total, the non-oil sector accounted for 95.84% of GDP in Q2 2026, a slight decrease from the 95.95% contribution in Q2 2025 and 96.08% in Q1 2026.
