FG hails 4.43% GDP growth, says $1trn economy within reach
The federal government says Nigeria’s economy is accelerating towards its target of achieving a $1 trillion Gross Domestic Product (GDP) by 2030, following stronger growth recorded in the second quarter of 2026.
The Federal Ministry of Finance said the economy’s real GDP grew by 4.43 per cent year-on-year in Q2 2026, compared with 4.23 per cent in Q2 2025 and 3.89 per cent in the first quarter of 2026.
The ministry, in a statement issued in Abuja on Tuesday, said the performance lifted real GDP growth for the first half of 2026 to 4.16 per cent, from 3.68 per cent in the corresponding period of 2025.
It said growth was becoming more broad-based, with 27 economic subsectors recording real growth of above three per cent in Q2 2026, compared with 23 subsectors in the same quarter of 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,” the ministry said.
According to the government, manufacturing growth increased to 3.24 per cent from 1.60 per cent, while agriculture expanded by 4.39 per cent compared with 2.82 per cent in Q2 2025.
The services sector, the largest driver of growth, also expanded by 4.60 per cent, up from 3.94 per cent recorded in the corresponding period last year.
The ministry also attributed the expansion in the economy’s dollar value partly to the appreciation of the naira, saying the currency gained more than 12 per cent between the first halves of 2025 and 2026.
