Africa-Press. Nigeria’s economy grew by 4.43% year-on-year in the second quarter of 2026, compared to 4.23% in the same period of 2025 and 3.89% in the first quarter of this year, according to data from a local source.
The data showed improvements in both the oil and non-oil sectors, with the oil sector growing by 7.31%, while the non-oil sector expanded by 4.31%, benefiting from activities in agriculture, telecommunications, real estate, trade, and construction.
Average oil production rose to 1.72 million barrels per day, compared to 1.68 million barrels per day in the second quarter of 2025 and 1.55 million in the first quarter of 2026.
The agricultural sector recorded a growth of 4.39%, while the services sector grew by 4.60% and remained the largest contributor to real GDP at 56.62%. In contrast, the industrial sector’s growth slowed to 3.96% from 7.46% a year earlier.
Real GDP at current prices reached approximately 119.29 trillion naira, compared to 100.73 trillion naira in the second quarter of 2025, with the non-oil sector accounting for about 95.84% of real output.
Despite the acceleration in growth, the pace remains below the target set by Bola Tinubu of 7% annually by 2027, as the country prepares for presidential elections where economic and security performance are expected to be key issues.
