Nigeria’s economy grew by 4.43 per cent in the second quarter of 2026, up from 4.23 per cent recorded in the same period of 2025 and 3.89 per cent in the first quarter of 2026, according to the Federal Ministry of Finance.
The ministry said the latest growth figure raised Nigeria’s average economic growth in the first half of 2026 to 4.16 per cent, compared with 3.68 per cent recorded during the corresponding period of 2025.
It added that the expansion was becoming broader across sectors, with 27 sectors of the economy recording growth of more than three per cent in the second quarter, compared with 23 sectors during the same period in 2025.
The manufacturing sector recorded 3.24 per cent growth, compared with 1.60 per cent in the corresponding quarter of 2025, while agriculture grew by 4.39 per cent, up from 2.82 per cent.
The services sector, which remains the largest contributor to Nigeria’s economic activity, also expanded by 4.60 per cent, compared with 3.94 per cent in the second quarter of 2025.
The Ministry of Finance attributed part of the increase in the dollar value of the economy to the appreciation of the naira and improved stability in the foreign exchange market.
According to the ministry, the naira appreciated by more than 12 per cent between the first halves of 2025 and 2026, contributing to an estimated 17 per cent increase in the dollar-denominated value of the Nigerian economy.
The ministry said the development indicates that Nigeria is moving towards the Federal Government’s target of growing the economy to $1 trillion by 2030.
It also stated that the International Monetary Fund (IMF) had listed Nigeria among the 10 countries expected to make significant contributions to global economic growth in 2026.
However, the government acknowledged the need for continued economic reforms to ensure that the benefits of economic expansion translate into improved living conditions for citizens.
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