The National Bureau of Statistics (NBS) has reported that Nigeria’s Gross Domestic Product (GDP) grew by 4.43 percent in real terms in the second quarter of 2026. This marks an increase from the 4.23 percent recorded in the same quarter of 2025, representing a 0.2 percentage-point rise year-on-year.
The bureau disclosed this in its latest GDP report released on Monday, highlighting that the growth was driven by key sectors such as agriculture, services, and oil. The agriculture sector expanded by 4.39 percent during the quarter, compared with 2.82 percent in the corresponding period of 2025.
Industry and Services Sector Performance
The industry sector recorded a growth of 3.96 percent in Q2 2026, down from 7.46 percent in Q2 2025. In contrast, the services sector grew by 4.60 percent, up from 3.94 percent in the same quarter of the previous year. According to the NBS report, “The growth of the industry sector stood at 3.96% from 7.46% recorded in the second quarter of 2025, while the services sector recorded a growth of 4.60% from 3.94% in the same quarter of 2025.”
The services sector remained the largest contributor to Nigeria’s overall economic output during the period, accounting for 56.62 percent of the aggregate GDP in Q2 2026. This is slightly higher than the 56.53 percent recorded in the corresponding quarter of 2025.
Nominal and Real GDP Figures
Nigeria’s aggregate GDP stood at N119.27 trillion in nominal terms in Q2 2026, representing an 18.43 percent year-on-year nominal increase from the N100.7 trillion recorded in the same period of 2025. In real terms, the GDP was N53.47 trillion during the quarter.
The NBS also reported an increase in the country’s average daily crude oil production, which rose to 1.63 million barrels per day (mbpd) in Q2 2026. This figure was lower than the 1.68 mbpd recorded in Q2 2025 by 0.05 mbpd but higher than the 1.55 mbpd recorded in Q1 2026 by 0.17 mbpd.
Oil Sector Growth and Contribution
The oil sector recorded a real growth of 7.31 percent year-on-year in Q2 2026, indicating a decrease of 13.15 percentage points relative to the 20.46 percent recorded in Q2 2025. On a quarter-on-quarter basis, the oil sector grew by 10.91 percent in Q2 2026, compared to 2.57 percent in Q1 2026.
The oil sector accounted for 4.16 percent of Nigeria’s total real GDP in Q2 2026, up from 4.05 percent in the same quarter of 2025 and 3.92 percent in the preceding quarter. The non-oil sector, on the other hand, accounted for 95.84 percent of real GDP during the quarter, slightly lower than the 95.95 percent recorded in Q2 2025 and the 96.08 percent recorded in Q4 2025.
Non-Oil Sector Drivers
The non-oil sector grew by 4.31 percent in real terms during Q2 2026, according to the NBS. This rate was higher by 0.67 percentage points compared to the 3.64 percent recorded in Q2 2025 and higher than the 3.94 percent recorded in Q1 2026.
The NBS attributed the growth in the non-oil sector to agriculture, particularly crop production, as well as information and communication, including telecommunications. Other key contributors included real estate, trade, financial and insurance services, manufacturing (especially cement production), and construction.
