Nigeria’s economy grew by 3.89 per cent year-on-year in real terms in the first quarter of 2026, according to the latest Gross Domestic Product report released by the National Bureau of Statistics. The figure reflects an improvement over the 3.13 per cent recorded in the corresponding period of 2025, signaling a steady uptick in overall economic activity driven largely by the non-oil sector.
The services sector remained the main growth driver, contributing 57.73 per cent to total GDP and expanding by 4.31 per cent. Agriculture also recorded a strong rebound, growing by 3.15 per cent compared to near-flat performance in Q1 2025, while the industry sector rose by 3.50 per cent, supported by gains in manufacturing and construction. Key high-performing segments included information and communication, which grew by 10.98 per cent, finance and insurance at 8.54 per cent, and construction at 6.38 per cent, with the non-oil economy accounting for 96.08 per cent of real GDP.
However, the report highlighted ongoing structural challenges, particularly in the energy sector. Crude oil production declined to 1.55 million barrels per day from 1.62 million barrels in the same period last year, although the oil sector still managed 2.57 per cent growth. In contrast, the electricity, gas, steam and air conditioning supply sector contracted sharply by 15.30 per cent, underscoring persistent weaknesses in Nigeria’s power supply chain despite broader economic gains.
