Nigeria GDP Grows 4.43% In Q2 As Oil Output Rises

Nigeria’s economy grew by 4.43 per cent year-on-year in real terms in the second quarter of 2026, according to the National Bureau of Statistics.

The Q2 figure was higher than the 4.23 per cent recorded in the same quarter of 2025 and above the 3.89 per cent growth posted in the first quarter of 2026.

In nominal terms, aggregate GDP stood at about N119.29 trillion in the quarter, compared with N100.73 trillion a year earlier. Real GDP was estimated at N53.47 trillion.

The oil sector improved during the period. Average daily crude oil production rose to 1.72 million barrels per day, compared with 1.68 million barrels per day in Q2 2025 and 1.55 million barrels per day in Q1 2026.

The non-oil economy still accounted for most activity. Agriculture grew by 4.39 per cent, while services grew by 4.60 per cent and contributed 56.62 per cent to aggregate GDP. Industry growth slowed to 3.96 per cent from 7.46 per cent in the corresponding quarter of 2025.

President Bola Tinubu welcomed the figures, saying the latest data showed that the government’s economic reforms were beginning to show results. Opposition parties have continued to criticise the administration’s handling of inflation, exchange rates and living costs.

Sources: Premium Times, Vanguard, Daily Trust, Channels TV