Minister of Finance and Coordinating Minister for the Economy, Taiwo Oyedele
Nigeria’s real Gross Domestic Product (GDP) grew by 4.43 per cent year-on-year in the second quarter of 2026, surpassing the 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 raised real GDP growth for the first half of 2026 to 4.16 per cent, compared with 3.68 per cent recorded in the same period of 2025.
According to the ministry, Nigeria’s economic expansion is becoming increasingly broad-based, with 27 economic subsectors recording real growth of more than three per cent in Q2 2026, up from 23 subsectors in the corresponding quarter of 2025.
The productive sectors recorded significant improvements during the period.
The manufacturing sector 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, compared with 2.82 per cent in the corresponding period.
The services sector, which remains the largest contributor to economic output, grew by 4.60 per cent, up from 3.94 per cent recorded in Q2 2025.
The ministry attributed part of the improvement in the economy’s dollar value to the relative stability and appreciation of the naira.
It said the naira appreciated by more than 12 per cent between the first half of 2025 and the first half of 2026, contributing to an estimated 17 per cent expansion of the economy in US dollar terms during the period.
The ministry said sustained economic growth, combined with government social intervention programmes, could boost dollar incomes, improve purchasing power and help lift millions of Nigerians out of poverty.
It added that the latest performance positioned Nigeria to consolidate its status as one of Africa’s largest economies while making progress towards the Federal Government’s target of building a $1 trillion economy by 2030.
The ministry also said the International Monetary Fund (IMF) 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 further projected 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.
The ministry reaffirmed the Federal Government’s commitment to accelerating inclusive economic growth and ensuring that the gains from ongoing macroeconomic reforms translate into improved living standards for Nigerians.
