Nigeria's economy grew 4.43% year-on-year in the second quarter of 2026, up from 3.89% recorded in the preceding quarter, official data showed on Monday.
Nigeria’s economy grew 4.43% year-on-year in the second quarter of 2026, up from 3.89% recorded in the preceding quarter, official data showed on Monday.
Growth accelerated in both the oil and non-oil sectors compared with the first quarter, the National Bureau of Statistics said in a report.
Africa’s most populous nation’s economy has been gathering momentum, expanding 3.87% in real terms in 2025 compared with 3.38% in 2024.
However, growth remains well below the 7% annual rate that President Bola Tinubu has targeted by 2027.
“Nigeria’s growth is being driven by domestic momentum which global headwinds have been unable to derail,” said Karim Noujaim, managing partner at Skykapital Europe.
“Looking further ahead, we anticipate large-scale capital investments and structural reforms will enhance business connectivity and boost worker productivity over time.”
Tinubu is expected to seek re-election for a second and final four-year term in the presidential election due in early 2027. The vote is likely to be seen as a test of his administration’s performance on the economy and security.
Nigeria’s average daily oil production stood at 1.72 million barrels per day, compared with 1.55 million barrels per day in the first quarter of 2026.
