Key Takeaways
- Nigeria's real GDP expanded by 4.43% year-on-year in Q2 2026, up from 4.23% in Q2 2025.
- The oil sector grew 7.31%, while the non-oil sector grew 4.31%.
- Average daily oil production climbed to 1.72 million barrels per day, from 1.68 mbpd a year earlier.
- Services remained the biggest contributor to output, accounting for 56.62% of aggregate GDP.
The National Bureau of Statistics (NBS) released its Gross Domestic Product (GDP) report for the second quarter of 2026 on Monday, showing that Nigeria's economy grew 4.43% year-on-year in real terms. That compares with 4.23% in the same quarter of 2025 and marks a clear acceleration for Africa's largest economy.
According to the NBS, both oil and non-oil sectors recorded positive growth in Q2 2026. The oil sector rose by 7.31% year-on-year, while the non-oil sector expanded by 4.31%. The services sector remained dominant, contributing 56.62% to aggregate GDP, slightly above the 56.53% recorded in Q2 2025.
Sectoral Breakdown: Oil Leads the Way
Nigeria's average daily oil production improved to 1.72 million barrels per day (mbpd) in Q2 2026, up from 1.68 mbpd in Q2 2025 and 0.17 mbpd higher than the 1.55 mbpd recorded in Q1 2026.
With higher output, the oil sector's real growth reached 7.31% year-on-year. That represents a decrease of 13.15 percentage points compared with 20.46% in Q2 2025, but a rise of 4.74 percentage points relative to 2.57% in Q1 2026. On a quarter-on-quarter basis, the oil sector grew by 10.91%.
The oil sector contributed 4.16% to total real GDP in Q2 2026, up from 4.05% in Q2 2025 and 3.92% in Q1 2026.
Non-Oil Sector and Other Contributors
The non-oil sector grew by 4.31% in real terms in Q2 2026, an increase of 0.67 percentage points from 3.64% in Q2 2025. It also outperformed the 3.94% pace recorded in Q1 2026.
The NBS attributed the non-oil sector's performance to agriculture, particularly crop production; information and communication, especially telecommunications; real estate; trade; financial and insurance services; manufacturing, particularly cement; and construction.
In real terms, the non-oil sector accounted for 95.84% of total GDP in Q2 2026, compared with 95.95% in Q2 2025 and 96.08% in Q1 2026.
Agriculture and Industry
Agriculture grew by 4.39% year-on-year, up from 2.82% in Q2 2025. The industry sector, however, slowed to 3.96% from 7.46% a year earlier. Services expanded by 4.60% in Q2 2026, outpacing the 3.94% recorded in Q2 2025.
Why This Matters
Nigeria's latest GDP report points to broadening economic momentum, supported by stronger oil output and resilient activity in services, agriculture and trade. Continued investment in infrastructure and non-oil industries will be crucial to keeping growth on a sustainable upward path.