Nigeria’s economy expanded by 4.43 per cent year on year in the second quarter of 2026, up from 4.23 per cent in Q2 2025 and 3.89 per cent in Q1 2026, according to the Federal Ministry of Finance, lifting first half real GDP growth to 4.16 per cent, up from 3.68 per cent over the same period last year.
The Ministry said growth is becoming more broad based, with 27 economic subsectors recording real growth above 3.0 per cent in Q2 2026, up from 23 subsectors a year earlier, showing expansion is no longer concentrated in a handful of industries.
Productive sectors led the way, with manufacturing growing 3.24 per cent, more than double the 1.60 per cent recorded in Q2 2025, agriculture expanding 4.39 per cent, up from 2.82 per cent, and services, the largest driver of growth, expanding 4.60 per cent, up from 3.94 per cent.
The Ministry said steady appreciation of the naira, up more than 12 per cent between H1 2025 and H1 2026, amplified these gains in dollar terms, expanding the economy by roughly 17 per cent in US dollar terms over the period, a pace it said could meaningfully lift millions of Nigerians out of poverty if sustained alongside government’s social programmes.
Citing IMF data ranking Nigeria among the top 10 contributors to global real GDP growth in 2026, the Ministry said continued stability and investor confidence would accelerate the country’s progression toward becoming Africa’s largest economy by 2028 and reaching its target of a $1 trillion economy by 2030.
By Asiwaju Adekunle Saheed
What do you feel about this post?
Like
Love
Happy
Haha
Sad
