By: Tijani Salako.

Nigeria’s economy continued to demonstrate resilience and accelerating growth, with real Gross Domestic Product (GDP) expanding by 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.

This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, in a statement released by the Federal Ministry of Finance.

According to the minister, 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, signalling sustained strengthening across the economy.

Growth also became more broad-based, with 27 economic subsectors recording real growth above 3.0 per cent in Q2 2026, compared to 23 subsectors in Q2 2025, indicating that expansion is no longer concentrated in a few industries.

The productive sectors drove the growth. Manufacturing grew by 3.24 per cent, more than double the 1.60 per cent recorded in Q2 2025. Agriculture expanded by 4.39 per cent, up from 2.82 per cent, while the services sector, the largest contributor to GDP, grew by 4.60 per cent, compared to 3.94 per cent a year earlier.

The relative stability and appreciation of the naira further boosted the economy in dollar terms. The currency 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 U.S. dollar terms over the period.

The statement noted that, if sustained alongside the government’s social programmes, the momentum could strengthen dollar incomes, improve purchasing power and help lift millions of Nigerians out of poverty.

It added that Nigeria is well positioned to consolidate its place among Africa’s largest economies and advance toward the government’s target of a $1 trillion economy by 2030.

The International Monetary Fund has also ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting the country to account for about 1.5 per cent of world growth this year.

The ministry said continued macroeconomic stability, sustained growth across productive sectors and improving investor confidence would accelerate Nigeria’s progress toward becoming Africa’s largest economy by 2028, while reaffirming the government’s commitment to inclusive growth and policy consistency.