Nigeria’s real Gross Domestic Product (GDP) grew by 4.43 per cent year-on-year in the second quarter of 2026, up from 4.23 per cent recorded in the corresponding quarter of 2025. The Federal Ministry of Finance, in a statement issued on Tuesday in Abuja, said the latest growth figure also represented an improvement over the 3.89 […]
Nigeria’s real Gross Domestic Product (GDP) grew by 4.43 per cent year-on-year in the second quarter of 2026, up from 4.23 per cent recorded in the corresponding quarter of 2025.
The Federal Ministry of Finance, in a statement issued on Tuesday in Abuja, said the latest growth figure also represented an improvement over the 3.89 per cent recorded in the first quarter of 2026.
According to the ministry, the performance raised Nigeria’s real GDP growth for the first half of 2026 to 4.16 per cent, compared with 3.68 per cent in the corresponding period of 2025.
It said the figures indicated that the economy was experiencing sustained growth, with expansion becoming increasingly broad-based across different sectors.
The ministry said 27 economic subsectors recorded real growth of more than three per cent in the second quarter, compared with 23 subsectors in Q2 2025.
“The strong Q2 2026 outturn lifted real GDP growth for the first half of 2026 to 4.16 per cent, up from 3.68 per cent in the corresponding period of 2025, a clear signal of sustained strengthening across the economy,” it said.
It said the productive sectors were among the major contributors to the growth, with manufacturing expanding by 3.24 per cent in Q2 2026, more than double the 1.60 per cent recorded in Q2 2025.
Agriculture also recorded stronger growth, expanding by 4.39 per cent compared with 2.82 per cent in the corresponding period of 2025.
Services, which the ministry described as the largest driver of growth, grew by 4.60 per cent, up from 3.94 per cent in Q2 2025.
The ministry attributed part of the improvement in the economy’s dollar value to the relative stability and appreciation of the naira during the period under review.
It said the naira appreciated by more than 12 per cent between the first half of 2025 and the first half of 2026, contributing to an estimated 17 per cent expansion of the economy in U.S. dollar terms over the period.
According to the ministry, sustaining the trend alongside the government’s social programmes could strengthen dollar incomes, improve purchasing power and reduce poverty.
“Given this momentum, Nigeria is well positioned to consolidate its standing among Africa’s largest economies and to advance toward the Government’s target of a USD 1 trillion economy by 2030,” the ministry said.
It added that the International Monetary Fund had ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting the country to account for approximately 1.5 per cent of global growth during the year.
The ministry said continued macroeconomic stability, sustained growth in productive sectors and improved investor confidence could further accelerate the country’s economic expansion.
It projected that the combination of these factors could position Nigeria to become Africa’s largest economy by 2028.
The ministry, however, stressed the need for policy consistency and continued implementation of reforms to sustain the growth trajectory.
“These results underscore the importance of sustaining our reforms and ensuring policy consistency as their benefits begin to reach households across the country,” it said.
“The Government remains focused on accelerating inclusive growth and translating these macroeconomic gains into shared prosperity for every Nigerian family.”
