Nigeria’s Economy Expands 4.43% in Q2 2026, Up From 3.89% in Q1
Nigeria’s economy recorded stronger growth in the second quarter of 2026, with real Gross Domestic Product (GDP) expanding by 4.43 per cent year-on-year, according to the Federal Ministry of Finance.
The latest growth figure represents an improvement from the 4.23 per cent recorded in the corresponding quarter of 2025 and the 3.89 per cent achieved in the first quarter of 2026.
The ministry, in a statement issued in Abuja on Tuesday, said the Q2 performance pushed real GDP growth for the first half of 2026 to 4.16 per cent, compared with 3.68 per cent recorded in the same period of 2025.
It said the growth was becoming increasingly broad-based, noting that 27 economic subsectors recorded real growth above three per cent in Q2 2026, compared with 23 subsectors in Q2 2025.
According to the ministry, key productive sectors contributed significantly to the improved performance.
Manufacturing grew by 3.24 per cent in Q2 2026, more than double the 1.60 per cent recorded in Q2 2025, reflecting an improvement in industrial output.
Agriculture also expanded by 4.39 per cent, up from 2.82 per cent in the corresponding quarter of 2025, while the services sector, the largest contributor to economic growth, recorded 4.60 per cent growth, compared with 3.94 per cent previously.
The ministry further attributed part of the improvement in the economy’s dollar value to the relative stability and appreciation of the naira.
It said the naira appreciated by more than 12 per cent between the first half of 2025 and the first half of 2026, contributing to an estimated 17 per cent expansion of Nigeria’s economy in U.S. dollar terms over the period.
The ministry said sustained growth, coupled with the Federal Government’s social programmes, could strengthen dollar incomes, improve purchasing power and help lift millions of Nigerians out of poverty.
It added that the latest economic performance placed Nigeria in a stronger position to consolidate its status among Africa’s largest economies and move towards the Federal Government’s target of achieving a $1 trillion economy by 2030.
The ministry also cited projections by the International Monetary Fund (IMF), which ranked Nigeria among the top 10 contributors to global real GDP growth in 2026.
According to the statement, the IMF projects Nigeria to account for about 1.5 per cent of global economic growth in 2026, placing the country ahead of several advanced and emerging economies.
The Federal Ministry of Finance said continued macroeconomic stability, sustained expansion across productive sectors and improved investor confidence could accelerate Nigeria’s ambition of becoming Africa’s largest economy by 2028.
It stressed the need for policy consistency and sustained economic reforms, saying the objective was to ensure that the benefits of improved macroeconomic performance translate into better living conditions and shared prosperity for Nigerians.
