The Ministry of Finance has said that Nigeria’s real Gross Domestic Product (GDP) accelerated to 4.43 per cent year-on-year in the second quarter of 2026, up from 4.23 per cent in Q2 2025 and 3.89 per cent in Q1 2026.
The Ministry stated this on Tuesday, noting that the strong Q2 2026 performance lifted real GDP growth for the first half of 2026 to 4.16 per cent, up from 3.68 per cent in the corresponding period of 2025.
It explained that growth was also becoming more broad-based, with 27 economic subsectors recording real growth above 3.0 per cent in Q2 2026, up from 23 subsectors in Q2 2025, showing that expansion was no longer concentrated in a handful of industries.
The Ministry noted that the productive sectors led the way, with manufacturing growing by 3.24 per cent, more than double the 1.60 per cent recorded in Q2 2025, reflecting improved industrial output.
It also mentioned that agriculture expanded by 4.39 per cent, up from 2.82 per cent, highlighting stronger production and value-chain performance.
The Finance Ministry pointed out that services, the largest driver of growth, expanded by 4.60 per cent, up from 3.94 per cent.
The Ministry stressed that the relative stability and steady appreciation of the exchange rate further amplified these gains in dollar terms.
“The naira appreciated by more than 12 per cent between H1 2025 and H1 2026, resulting in an expansion of the economy by approximately 17 per cent in U.S. dollar terms over the period, a pace that, if sustained along with the various social programmes of the Government, will meaningfully strengthen dollar incomes, improve purchasing power and lift millions of Nigerians out of poverty.”
It emphasised that, given this momentum, Nigeria was well positioned to consolidate its standing among Africa’s largest economies and advance towards the Federal Government’s target of a USD 1 trillion economy by 2030.
“The International Monetary Fund has already ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting the country to account for roughly 1.5 per cent of world growth this year, ahead of several advanced and emerging economies,” the Ministry noted.
It maintained that continued macroeconomic stability, sustained growth across productive sectors, and improving investor confidence would accelerate Nigeria’s progression towards becoming Africa’s largest economy by 2028.
The Ministry stated that the results highlighted the importance of sustaining its reforms and ensuring policy consistency as their benefits began to reach households across the country.
It reiterated that the Federal Government remained focused on accelerating inclusive growth and translating these macroeconomic gains into shared prosperity for every Nigerian family.
