Nigeria’s real Gross Domestic Product, GDP, grew by 4.43 per cent year-on-year in the second quarter of 2026, up from 3.89 per cent recorded in the first quarter….
Nigeria’s real Gross Domestic Product, GDP, grew by 4.43 per cent year-on-year in the second quarter of 2026, up from 3.89 per cent recorded in the first quarter.
The latest growth was supported by a strong rebound in the petroleum sector, which expanded by 7.31 per cent in Q2, compared with 2.57 per cent in Q1.
The improvement in the petroleum sector was attributed to higher crude oil output and increased capital deployment.
Meanwhile, the non-oil economy grew by 4.31 per cent during the quarter, supported by increased activity in information and communications technology, real estate, trade, livestock and crop production.
The positive growth in the second quarter was also reflected in leading business activity indicators.
The composite Purchasing Managers’ Index, PMI, rose to 52.7 points in August from 51.1 in July, indicating continued expansion in business activity.
The figures point to stronger economic activity in the second quarter, with both the oil and non-oil sectors contributing to the expansion.
