ABUJA, Nigeria — Nigeria’s economy expanded by 4.43 per cent year-on-year in real terms during the second quarter of 2026, marking a steady acceleration from the 4.23 per cent recorded in Q2 2025 and 3.89 per cent in Q1 2026.
According to an official press statement released on Tuesday, September 1, 2026, by the Federal Ministry of Finance in Abuja, the robust performance in the second quarter lifted the real Gross Domestic Product (GDP) growth rate for the first half (H1) of 2026 to 4.16 percent, up from 3.68 percent in the corresponding period of 2025.
The Ministry highlighted that economic activity is becoming increasingly diversified across non-oil sectors. In Q2 2026, 27 economic subsectors achieved real growth exceeding 3.0 per cent, compared to 23 subsectors in the same quarter of the previous year.
A breakdown of major economic drivers in Q2 2026 shows:
- Manufacturing: Expanded by 3.24 per cent, more than doubling the 1.60 per cent recorded in Q2 2025.
- Agriculture: Grew by 4.39 per cent, up from 2.82 per cent in Q2 2025, driven by improved production and value-chain performance.
- Services: Remained the primary growth driver, expanding by 4.60 per cent compared to 3.94 per cent in Q2 2025.
The release also pointed to gains in the international value of the national economy. A 12 per cent appreciation of the naira between H1 2025 and H1 2026 contributed to an estimated 17 per cent expansion of Nigeria’s GDP in U.S. dollar terms over the period.
The Ministry noted that these macroeconomic improvements align with projections from the International Monetary Fund (IMF), which ranks Nigeria among the top 10 contributors to global real GDP growth in 2026, expecting the nation to account for approximately 1.5 percent of global expansion this year.
Reaffirming the Federal Government’s long-term economic agenda under the “Renewed Hope” policy framework, the statement emphasized that sustained reform implementation, exchange rate stability, and growth across key productive sectors remain crucial to reaching the target of a $1 trillion economy by 2030 and restoring Nigeria’s status as Africa’s largest economy by 2028.
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