Abuja, Nigeria — Nigeria’s economy expanded by 3.89 per cent in real terms in the first quarter of 2026, with Gross Domestic Product (GDP) rising to ₦113.19 trillion at market prices, according to data released by the National Bureau of Statistics (NBS).
The latest figure marks an improvement from the 3.13 per cent growth recorded in Q1 2025, reflecting a steady recovery supported largely by resilient non-oil sector activities.
At current basic prices, GDP stood at ₦110.79 trillion, representing a 17.79 per cent nominal growth, underscoring continued expansion across key segments of the economy.
Non-Oil Sector Drives Growth
Analysis of the report shows that the non-oil sector remained the primary engine of growth, with strong performances recorded in trade, telecommunications, real estate, and other service-related activities.
The services sector retained its dominance, contributing 57.73 per cent to total GDP, buoyed by robust expansion in telecommunications and information services, which continued to benefit from Nigeria’s growing digital economy.
Sectoral Contributions
The agriculture sector accounted for 23.16 per cent of real GDP, growing by 3.15 per cent, with crop production — its largest component — recording a 3.39 per cent increase.
Meanwhile, the industrial sector contributed 19.11 per cent, supported by improved activities in construction and manufacturing.
The oil sector, though still recovering, posted a modest growth of 2.57 per cent, highlighting ongoing challenges in crude oil production despite gradual improvements.
Economic Outlook
Economic analysts say the Q1 performance reflects a gradual strengthening of Nigeria’s economic fundamentals, particularly as diversification efforts begin to yield results.
However, they caution that sustained growth above 4 per cent will be necessary in subsequent quarters to significantly impact unemployment and poverty levels.
The NBS data signals continued reliance on non-oil sectors to drive expansion, even as the country navigates inflationary pressures and foreign exchange volatility.
Further breakdowns and detailed insights are expected as the statistics agency releases its full report.
