Nigeria’s real Gross Domestic Product, GDP, grew by 4.43 per cent year-on-year in the second quarter of 2026, up from 4.23 per cent recorded in the corresponding period of 2025, the Federal Ministry of Finance has said.
The ministry, in a statement issued on Tuesday, said the latest growth also represented an improvement from the 3.89 per cent recorded in the first quarter of 2026.
It said the Q2 performance lifted real GDP growth for the first half of 2026 to 4.16 per cent, compared with 3.68 per cent recorded in the corresponding period of 2025.
According to the ministry, economic growth is becoming more broad-based, with 27 economic subsectors recording real growth of more than three per cent in Q2 2026, compared with 23 subsectors in Q2 2025.
The productive sectors recorded notable improvements during the period.
Manufacturing grew by 3.24 per cent, more than double the 1.60 per cent recorded in Q2 2025, while agriculture expanded by 4.39 per cent from 2.82 per cent.
The services sector, the largest contributor to economic growth, expanded by 4.60 per cent, compared with 3.94 per cent recorded in the corresponding quarter of 2025.
The ministry attributed part of the improvement in dollar terms to relative stability and appreciation of the naira, saying the currency appreciated by more than 12 per cent between the first half of 2025 and the first half of 2026.
It said the development resulted in an estimated 17 per cent expansion of the economy in US dollar terms during the period.
The ministry said sustained growth, combined with government social programmes, could strengthen dollar incomes, improve purchasing power and contribute to lifting millions of Nigerians out of poverty.
It said the latest economic performance placed Nigeria in a position to consolidate its position among Africa’s largest economies and make progress towards the Federal Government’s target of achieving a $1 trillion economy by 2030.
The ministry also said the International Monetary Fund had ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting that the country would account for about 1.5 per cent of global growth this year.
It added that continued macroeconomic stability, sustained expansion across productive sectors and improving investor confidence could accelerate Nigeria’s emergence as Africa’s largest economy by 2028.
“These results underscore the importance of sustaining our reforms and ensuring policy consistency as their benefits begin to reach households across the country,” the ministry said.
It added that the Federal Government remained focused on accelerating inclusive growth and translating the country’s macroeconomic gains into improved living standards for Nigerians.
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