BREAKING: Nigeria’s gross domestic product grows by 4.43% in Q2 2026
The National Bureau of Statistics (NBS) on Monday revealed that Nigeria’s Gross Domestic Product (GDP) grew by 4.43 per cent (year-on-year) in real terms in the second quarter (Q2) of 2026, higher than the 4.23per cent recorded in the second quarter (Q2) of 2025.
The bureau in its Nigerian GDP report for Q2 2026 revealed that agriculture grew by 4.39per cent, an improvement from the 2.82per cent recorded in the corresponding quarter of 2025.
The growth of the industry sector stood at 3.96per cent from 7.46per cent recorded in the second quarter of 2025, while the services sector recorded a growth of 4.60per cent from 3.94per cent in the same quarter of 2025.
In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the second quarter of 2026 at 56.62per cent compared to the corresponding quarter of 2025 at 56.53per cent. In the quarter under review, aggregate GDP at basic price stood at N119,294,681.84 million in nominal terms. This performance is higher when compared to the second quarter of 2025, which recorded an aggregate GDP of N100,730,501.10 million, indicating a year-on-year nominal growth of 18.43per cent.
According to the report, the nation in the Q2 2026 recorded an average daily oil production of 1.72 million barrels per day (mbpd), higher than the daily average production of 1.68 mbpd recorded in the same quarter of 2025 by 0.05 mbpd and higher than the Q1 2026 production volume of 1.55 mbpd by 0.17mbpd.
“The real growth of the oil sector was 7.31 (year-on-year) in Q2 2026, indicating a decrease of 13.15 percentage points relative to the rate recorded in the corresponding quarter of 2025 (20.46per cent).
“Growth increased by 4.74percentage points when compared to Q1 2026, which was 2.57per cent. On a quarter-on-quarter basis, the oil sector recorded a growth rate of 10.91per cent in Q2 2026.
“The Oil sector contributed 4.16per cent to the total real GDP in Q2 2026, up from the figure recorded in the corresponding period of 2025 at 4.05per cent. and up from the preceding quarter, where it contributed 3.92per cent,”the report said.
The report by NBS stated that the non-oil sector grew by 4.31per cent in real terms during the reference quarter (Q2 2026).
“This rate was higher by 0.67percentage points compared to the rate recorded in the same quarter of 2025, which was 3.64per cent, and higher than the 3.94per cent recorded in the first quarter of 2026.
“This sector was driven in the second quarter of 2026 mainly by Agriculture (Crop production); Information and Communication (Telecommunications); Real Estate; Trade; Financial & Insurance (Financial Institutions); Manufacturing (Cement); and Construction, accounting for positive GDP growth.
“In real terms, the non-oil sector contributed 95.84per cent to the nation’s GDP in the second quarter of 2026, lower than the share recorded in the second quarter of 2025, which was 95.95per cent, and lower than the first quarter of 2026, recorded as 96.08per cent,” the report explained
