By Kazeem Ugbodaga
Nigeria’s economy grew by 4.43 per cent in real terms in the second quarter of 2026, strengthening from the 4.23 per cent recorded in the corresponding quarter of 2025, according to the National Bureau of Statistics (NBS).
The latest growth figure was contained in the Nigerian Gross Domestic Product Report Q2 2026, released by the NBS in August 2026.
The report is based on rebased quarterly GDP estimates and data obtained through the Quarterly Establishment Survey.
The performance represents an improvement in annual economic growth, although the expansion was uneven across major sectors.
The services sector remained the largest contributor to economic output, accounting for 56.62 per cent of real GDP in the second quarter, slightly above its 56.53 per cent contribution in Q2 2025.
Services also recorded a stronger growth rate of 4.60 per cent, compared with 3.94 per cent a year earlier.
Agriculture recorded real growth of 4.39 per cent, up from 2.82 per cent in Q2 2025, while the industry sector expanded by 3.96 per cent, significantly below the 7.46 per cent recorded in the same quarter last year.
In nominal terms, aggregate GDP at basic prices stood at N119.29 trillion during the quarter, compared with N100.73 trillion in Q2 2025, representing an 18.43 per cent year-on-year increase.
The oil sector recorded a notable increase in crude production during the quarter.
Average daily oil production rose to 1.72 million barrels per day (mbpd) from 1.68 mbpd in Q2 2025 and 1.55 mbpd in Q1 2026.
The sector grew by 7.31 per cent year-on-year in real terms, compared with 2.57 per cent in the first quarter of 2026. On a quarter-on-quarter basis, oil-sector growth stood at 10.91 per cent.
Oil contributed 4.16 per cent to real GDP, up from 4.05 per cent in Q2 2025.
Despite the improvement in oil output, the non-oil sector continued to dominate the economy, accounting for 95.84 per cent of real GDP. It grew by 4.31 per cent, compared with 3.64 per cent in Q2 2025.
The NBS identified agriculture, telecommunications, real estate, trade, financial institutions, cement manufacturing and construction among the activities supporting non-oil sector growth.
The Information and Communication sector was among the strongest performers, recording real growth of 9.62 per cent year-on-year.
Its contribution to real GDP increased to 11.74 per cent, from 11.18 per cent in Q2 2025.
Construction also expanded by 6.75 per cent in real terms, while transportation and storage grew by 5.70 per cent.
Manufacturing recorded real growth of 3.24 per cent, while its contribution to real GDP stood at 7.72 per cent.
However, electricity, gas, steam and air-conditioning supply contracted by 10.63 per cent in real terms, compared with 11.47 per cent growth in Q2 2025.
The NBS report also showed that agriculture grew by 4.39 per cent in real terms, with the sector contributing 26.15 per cent to real GDP during the quarter.
The Q2 performance places Nigeria’s economy on a stronger growth path compared with the same period last year, while the figures highlight the continued importance of services and non-oil activities to overall economic output.
