Nigeria’s economy recorded a real Gross Domestic Product (GDP) growth of 3.89 per cent year-on-year in the first quarter of 2026, according to figures released by the National Bureau of Statistics.
The latest report showed an improvement from the 3.13 per cent growth recorded in the corresponding period of 2025, with agriculture emerging as the most improved sector after rebounding from 0.07 per cent growth in Q1 2025 to 3.15 per cent in Q1 2026.
The industry sector grew by 3.50 per cent, while the services sector expanded by 4.31 per cent and remained the largest contributor to aggregate GDP with a 57.73 per cent share.
The report also revealed that aggregate GDP at basic price stood at ₦110.79 trillion in nominal terms, representing a 17.79 per cent increase compared to ₦94.05 trillion recorded in Q1 2025.
Nigeria recorded an average daily oil production of 1.55 million barrels per day during the quarter, lower than the 1.62 million barrels per day recorded in the same period of 2025.
The oil sector posted a real growth rate of 2.57 per cent year-on-year and contributed 3.92 per cent to total real GDP, while the non-oil sector grew by 3.94 per cent, contributing 96.08 per cent to the nation’s GDP.
The NBS attributed the non-oil sector growth largely to telecommunications, crop production, trade, cement manufacturing, financial institutions, real estate, construction, and road transportation activities.
