Nigeria’s economy sustained its growth momentum in the second quarter of 2026, with real Gross Domestic Product, GDP, expanding by 4.43 per cent year-on-year, up from 4.23 per cent recorded in Q2 2025 and 3.89 per cent in Q1 2026.
The latest growth performance lifted real GDP growth for the first half of 2026 to 4.16 per cent, compared with 3.68 per cent in the corresponding period of 2025, indicating a broadening and sustained recovery across key sectors of the economy.
According to the Federal Ministry of Finance, growth is also becoming increasingly broad-based, with 27 economic subsectors recording real growth of more than three per cent in Q2 2026, compared with 23 subsectors in the corresponding quarter of 2025.
The productive sectors recorded notable improvements during the period.
Manufacturing grew by 3.24 per cent, more than double the 1.60 per cent recorded in Q2 2025, while agriculture expanded by 4.39 per cent, compared with 2.82 per cent in the same period last year.
The services sector, which remains the largest contributor to economic growth, also strengthened, expanding by 4.60 per cent in Q2 2026, up from 3.94 per cent in Q2 2025.
The ministry said the relative stability and appreciation of the naira further amplified the growth in dollar terms.
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 in the size of the economy in US dollar terms over the period.
According to the ministry, sustaining the current growth trajectory, alongside the government’s social intervention programmes, could strengthen dollar incomes, improve purchasing power and contribute to reducing poverty among millions of Nigerians.
It said the performance placed Nigeria in a strong position to consolidate its status among Africa’s largest economies and advance towards the Federal Government’s target of achieving a $1 trillion economy by 2030.
The ministry also cited projections by the International Monetary Fund, which ranked Nigeria among the top 10 contributors to global real GDP growth in 2026.
The IMF projected that Nigeria would account for about 1.5 per cent of global growth this year, placing it ahead of several advanced and emerging economies.
The ministry said sustained macroeconomic stability, continued growth in productive sectors and improving investor confidence would be critical to accelerating Nigeria’s progress towards becoming Africa’s largest economy by 2028.
It stressed that the latest GDP figures underscored the need to sustain ongoing reforms and ensure policy consistency as the benefits of the measures increasingly reach households and businesses across the country.
“The Government remains focused on accelerating inclusive growth and translating these macroeconomic gains into shared prosperity for every Nigerian family,” the ministry said.
