By Mary Izuaka

 

Nigeria’s Gross Domestic Product (GDP) grew by 4.43 per cent year-on-year in real terms in the second quarter of 2026, the National Bureau of Statistics (NBS) has said.

The NBS said this growth rate is higher than the 4.23 per cent recorded in the second quarter of 2025.

The statistics bureau said this in its “Nigerian Gross Domestic Product (GDP) Report Q2 2026” released on Monday.

During the quarter under review, the NBS said agriculture grew by 4.39 per cent, an improvement from the 2.82 per cent recorded in the corresponding quarter of 2025.

It explained that the growth of the industry sector stood at 3.96 per cent from 7.46 per cent recorded in the second quarter of 2025, while the services sector recorded a growth of 4.60 per cent from 3.94 per cent in the same quarter of 2025.

In terms of share of the GDP, the bureau said the services sector contributed more to the aggregate GDP in the second quarter of 2026 at 56.62 per cent compared to the corresponding quarter of 2025 at 56.53 per cent.

“In the quarter under review, aggregate GDP at basic price stood at N119,294,681.84 million in
nominal terms. This performance is higher when compared to the second quarter of 2025, which recorded an aggregate GDP of N100,730,501.10 million, indicating a year-on-year nominal growth of 18.43 per cent,” NBS said.

Oil sector

The bureau said the nation in the second quarter of 2026 recorded an average daily oil production of 1.72 million barrels per day (mbpd), higher than the daily average production of 1.68 mbpd recorded in the same quarter of 2025 by 0.05 mbpd and higher than the first quarter of 2026 production volume of 1.55 mbpd by 0.17 mbpd.

The NBS said the real growth of the oil sector was 7.31 (year-on-year) in Q2 2026, indicating a decrease of 13.15 per cent points relative to the rate recorded in the corresponding quarter of 2025 (20.46 per cent).

According to the bureau, growth increased by 4.74 percentage points when compared to Q1 2026, which was 2.57 per cent.

On a quarter-on-quarter basis, the NBS said the oil sector recorded a growth rate of 10.91 per cent in Q2 2026.

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“The oil sector contributed 4.16 per cent to the total real GDP in Q2 2026, up from the figure recorded in the corresponding period of 2025 at 4.05 per cent and up from the preceding quarter, where it contributed 3.92 per cent,” NBS said.

Non-oil sector

The NBS said the non-oil sector grew by 4.31 per cent in real terms during the reference quarter (Q2 2026).

This rate, it said, was higher by 0.67 percentage points compared to the rate recorded in the same quarter of 2025, which was 3.64 per cent, and higher than the 3.94 per cent recorded in the first quarter of 2026.

“This sector was driven in the second quarter of 2026 mainly by agriculture (crop production); information and communication (telecommunications); real estate; trade; financial & insurance (financial institutions);
manufacturing (cement); and construction, accounting for positive GDP growth,” the bureau said.

In real terms, the NBS said the non-oil sector contributed 95.84 per cent to the nation’s GDP in the second quarter of 2026, lower than the share recorded in the second quarter of 2025, which was 95.95 per cent, and lower than the first quarter of 2026, recorded as 96.08 per cent.