Nigeria’s GDP grows by 3.89% in Q1 2026, says NBS
Nigeria’s economy recorded a real Gross Domestic Product (GDP) growth of 3.89per cent year-on-year in the first quarter (Q1) of 2026, reflecting an improvement from the 3.13per cent growth recorded in the corresponding period of 2025.
This is according to fresh GDP data released by the National Bureau of Statistics (NBS).
The latest figures indicate continued expansion across major sectors of the economy, supported by stronger agricultural activity, steady industrial output and sustained growth in the services sector.
In nominal terms, aggregate GDP at basic prices rose to N110.79 trillion in Q1 2026 from N94.05 trillion in Q1 2025, representing a nominal year-on-year growth of 17.79 per cent.
The economy remained broadly driven by non-oil activities, although the oil sector also posted moderate growth despite lower production volumes during the quarter.
The latest GDP report showed that the non-oil sector remained the dominant driver of economic growth, while agriculture recorded a significant rebound.
The non-oil sector grew by 3.94per cent in real terms and accounted for 96.08per cent of total real GDP.
The services sector remained the largest contributor to output, accounting for 57.73per cent of GDP and growing by 4.31per cent year-on-year.
Agriculture recorded strong recovery with real growth of 3.15per cent, compared to just 0.07per cent in the corresponding period of 2025.
The report showed that key growth drivers included telecommunications, crop production, trade, cement manufacturing, financial services, construction, transportation and real estate activities.
The oil sector posted moderate growth despite lower crude oil production during the quarter.
Average crude oil production declined to 1.55 million barrels per day in Q1 2026 from 1.62 million barrels per day recorded in Q1 2025.
Despite lower output, the oil sector grew by 2.57% in real terms, higher than the 1.87 per cent growth recorded in Q1 2025.
The oil sector contributed 3.92% to total real GDP, slightly below 3.97per cent recorded a year earlier.
Construction grew strongly by 6.38per cent in real terms, while manufacturing posted nominal growth of 10.22per cent.
The industrial sector maintained stable performance overall, growing by 3.50per cent in Q1 2026 compared to 3.42per cent recorded in the same period of 2025.
