Nigeria’s economy recorded stronger growth in the second quarter of 2026, with real Gross Domestic Product (GDP) expanding by 4.43 per cent year-on-year, according to the Federal Ministry of Finance.
The latest figure represents an improvement from the 4.23 per cent recorded in the second quarter of 2025 and the 3.89 per cent growth posted in the first quarter of 2026.
The stronger second-quarter performance lifted Nigeria’s real GDP growth for the first half of 2026 to 4.16 per cent, compared with 3.68 per cent during the corresponding period of 2025.
The Federal Ministry of Finance said the figures point to sustained strengthening of economic activity and a broader expansion across various sectors.
According to the ministry, 27 economic subsectors recorded real growth of more than 3 per cent in the second quarter of 2026, compared with 23 subsectors in the same period of 2025.
Manufacturing recorded significant improvement, growing by 3.24 per cent, more than double the 1.60 per cent recorded in the second quarter of 2025.
Agriculture also strengthened, expanding by 4.39 per cent, compared with 2.82 per cent a year earlier, while the services sector, the largest contributor to economic activity, grew by 4.60 per cent, up from 3.94 per cent.
The ministry attributed part of the improvement in dollar-denominated economic output to relative exchange-rate stability and the 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 government said sustained economic growth, alongside its social intervention programmes, could help strengthen dollar incomes, improve purchasing power and reduce poverty.
With the latest economic performance, the Federal Ministry of Finance said Nigeria was well positioned to consolidate its position among Africa’s largest economies and move towards the Federal Government’s target of achieving a $1 trillion economy by 2030.
The ministry also cited projections by the International Monetary Fund (IMF), which reportedly placed Nigeria among the top 10 contributors to global real GDP growth in 2026.
According to the projection, Nigeria is expected to account for approximately 1.5 per cent of global economic growth this year, placing it ahead of several advanced and emerging economies.
The government said continued macroeconomic stability, sustained expansion across productive sectors and improved investor confidence could accelerate Nigeria’s emergence as Africa’s largest economy by 2028.
The ministry stressed the need to maintain policy consistency and sustain ongoing economic reforms as the government seeks to translate improved macroeconomic indicators into tangible benefits for households.
“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 government remained focused on accelerating inclusive growth and converting the country’s improving economic performance into broader prosperity for Nigerians.
