Nigeria’s National Bureau of Statistics (NBS) has announced that the Nigerian economy expanded in real terms by 4.43 per cent year-on-year (YoY) in the second quarter of 2026, (Q2’26) from 4.2 per cent in Q2’25.
The NBS said in its Gross Domestic Product (GDP) report for Q2’26, noting that both the oil and non-oil sectors grew in the review period, rising by 7.3 per cent YoY and 4.3 per cent YoY, respectively.
“GDP grew by 4.43 per cent YoY in real terms in the Q2’26, higher than the 4.23 per cent recorded in the Q2’25.
“During the quarter under review, agriculture grew by 4.39 per cent, an improvement from the 2.82 per cent recorded in the corresponding quarter of 2025.
“The growth of the industry sector stood at 3.96 per cent from 7.46 per cent recorded in the second quarter of 2025, while the services sector recorded a growth of 4.6 per cent from 3.94 per cent in the same quarter of 2025,” the NBS said.
According to the NBS, in terms of share of the GDP, the services sector contributed more to the aggregate GDP in Q2’26 at 56.62 per cent compared to the corresponding quarter of 2025 at 56.53 per cent.
On the oil sector growth, NBS noted that the nation recorded an average daily oil production of 1.72 million barrels per day (mbpd) in Q2’26, higher than the daily average production of 1.68 mbpd recorded in the same quarter of 2025 by 0.05 mbpd and higher than Q1’26 production volume of 1.55mbpd by 0.17 mbpd.
“The real growth of the oil sector was 7.31 (year-on-year) in Q2’26, indicating a decrease of 13.15 per cent points relative to the rate recorded in the corresponding quarter of 2025 (20.46 per cent).
“Growth increased by 4.74 per cent points when compared to Q1’26, which was 2.57 per cent.
“On a quarter-on-quarter basis, the oil sector recorded a growth rate of 10.91 per cent in Q2’26.
“The Oil sector contributed 4.16 per cent to the total real GDP in Q2’26, up from the figure recorded in the corresponding period of 2025 at 4.05 per cent and up from the preceding quarter, where it contributed 3.92 per cent,” the NBS added.
GIK/APA