LAGOS, Aug 31 – Nigeria’s economic growth accelerated in the second quarter of 2026 as stronger activity in both the oil and non-oil sectors lifted real gross domestic product growth to 4.43% year-on-year.
The latest expansion compares with 3.89% growth recorded in the first quarter, according to the National Bureau of Statistics. The figures point to a further strengthening of economic activity in Africa’s most populous country as reforms and improved performance across key sectors support a gradual recovery.
Both the oil and non-oil segments of the economy recorded faster growth during the second quarter compared with the preceding three months, contributing to the overall improvement in GDP performance.
Nigeria’s economy has been gaining momentum over the past year. Real GDP expanded by 3.87% in 2025, compared with 3.38% in 2024, marking a continued improvement in the underlying growth rate.
Despite the acceleration, economic expansion remains below the 7% annual growth rate targeted by President Bola Tinubu by 2027. Closing that gap will require sustained improvements in productive capacity and stronger growth across the sectors that account for the bulk of economic activity.
The second-quarter figures therefore provide a further indication that Nigeria’s economy is strengthening, but also highlight the scale of the challenge facing policymakers as they seek to translate the recent recovery into faster and more durable growth.
Continued expansion in both oil and non-oil activity will remain important for the outlook, particularly as Nigeria seeks to strengthen economic performance while reducing vulnerabilities associated with its reliance on oil revenues.
