Nigeria’s economy accelerated in the second quarter of 2026, with real Gross Domestic Product, GDP, expanding by 4.43 per cent year-on-year, compared with 4.23 per cent in Q2 2025 and 3.89 per cent in Q1 2026.
The latest growth performance lifted real GDP expansion for the first half of 2026 to 4.16 per cent, from 3.68 per cent recorded in the corresponding period of 2025.
Growth also became more broad-based during the period, with 27 economic subsectors recording real growth above three per cent in Q2 2026, compared with 23 subsectors in Q2 2025.
The productive sectors led the expansion, with manufacturing growing by 3.24 per cent, more than double the 1.60 per cent recorded in Q2 2025.
Agriculture expanded by 4.39 per cent, up from 2.82 per cent, while the services sector, the largest driver of economic activity, grew by 4.60 per cent compared with 3.94 per cent in the corresponding period.
The stronger performance also coincided with relative stability and appreciation of the naira.
The naira appreciated by more than 12 per cent between the first half of 2025 and the corresponding period of 2026, contributing to an estimated 17 per cent expansion of the economy in US dollar terms.
The development is expected to strengthen dollar incomes, improve purchasing power and support efforts to reduce poverty.
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With the current momentum, Nigeria is positioned to consolidate its position among Africa’s largest economies and move towards the Federal Government’s target of a $1 trillion economy by 2030.
The International Monetary Fund, IMF, has ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting that the country will account for about 1.5 per cent of global growth this year.
The government said continued macroeconomic stability, sustained expansion across productive sectors and improved investor confidence would help accelerate Nigeria’s economic progression.
It said the latest figures underscored the importance of sustaining “our reforms” and ensuring policy consistency as their benefits begin to reach households across the country.
The government added that it “remains focused on accelerating inclusive growth and translating these macroeconomic gains into shared prosperity for every Nigerian family.”
It also said sustained economic expansion could strengthen Nigeria’s position as Africa’s largest economy by 2028.
