BREAKING: Nigeria’s GDP rate grew by 4.4% in Q2 – NBS reveals

Nigeria’s economy grew by 4.43 percent in real terms in the second quarter of 2026, according to the National Bureau of Statistics (NBS). 

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The bureau disclosed this in its latest Gross Domestic Product (GDP) report released on Monday, saying the latest growth rate was higher than the 4.23 percent recorded in the corresponding quarter of 2025. The increase represents a 0.2 percentage-point rise year-on-year.

According to the NBS, the agriculture sector grew by 4.39 percent during the quarter, compared with 2.82 percent in the same period of 2025. “The growth of the industry sector stood at 3.96% from 7.46% recorded in the second quarter of 2025, while the services sector recorded a growth of 4.60% from 3.94% in the same quarter of 2025,” the report said.

The bureau added that the services sector remained the largest contributor to Nigeria’s overall economic output during the period. “In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the second quarter of 2026 at 56.62% compared to the corresponding quarter of 2025 at 56.53%.”

The NBS said Nigeria’s aggregate GDP stood at N119.27 trillion in nominal terms in Q2 2026. The figure represents an 18.43 percent year-on-year nominal increase from the N100.7 trillion recorded in the corresponding period, according to the report.

In real terms, Nigeria’s GDP stood at N53.47 trillion during the second quarter of 2026. The bureau also reported an increase in the country’s average daily crude oil production, which rose to 1.63 million barrels per day (mbpd) during the quarter.

However, the figure was lower than the 1.68 mbpd recorded in the corresponding quarter of 2025 by 0.05 mbpd. It was, however, higher than the 1.55 mbpd recorded in the first quarter of 2026 by 0.17 mbpd.

“The real growth of the oil sector was 7.31 (year-on-year) in Q2 2026, indicating a decrease of 13.15% points relative to the rate recorded in the corresponding quarter of 2025 (20.46%),” the NBS said. “Growth increased by 4.74% points when compared to Q1 2026, which was 2.57%. On a quarter-on-quarter basis, the oil sector recorded a growth rate of 10.91% in Q2 2026.”

The oil sector accounted for 4.16 percent of Nigeria’s total real GDP in Q2 2026, up from 4.05 percent in the same quarter of 2025. Its contribution was also higher than the 3.92 percent recorded in the preceding quarter.

Meanwhile, the non-oil sector accounted for 95.84 percent of Nigeria’s real GDP during the quarter, according to the NBS. The bureau said the figure was slightly lower than the 95.95 percent recorded in Q2 2025 and the 96.08 percent recorded in Q4 2025.

“The non-oil sector grew by 4.31% in real terms during the reference quarter (Q2 2026),” the NBS said. “This rate was higher by 0.67% points compared to the rate recorded in the same quarter of 2025, which was 3.64%, and higher than the 3.94% recorded in the first quarter of 2026.”

The statistics agency said growth in the non-oil sector was driven mainly by agriculture, particularly crop production, as well as information and communication, including telecommunications. Other key contributors were real estate, trade, financial and insurance services, particularly financial institutions, manufacturing, especially cement production, and construction.