By Felix Olukayode
Nigeria’s economy accelerated in the second quarter of 2026, with real Gross Domestic Product (GDP) growing by 4.43 per cent year-on-year, up from 4.23 per cent in Q2 2025 and 3.89 per cent in the first quarter of 2026, the Federal Ministry of Finance said on Tuesday.
The stronger performance lifted real GDP growth in the first half of 2026 to 4.16 per cent, compared with 3.68 per cent in the corresponding period of 2025. The ministry said the expansion was becoming more broad-based, with 27 economic subsectors recording growth above three per cent in Q2, compared with 23 subsectors a year earlier.
Manufacturing growth more than doubled to 3.24 per cent from 1.60 per cent, while agriculture rose to 4.39 per cent from 2.82 per cent. Services, the economy’s largest sector, also strengthened to 4.60 per cent from 3.94 per cent. The ministry said the naira’s relative stability and appreciation had also supported an estimated 17 per cent expansion in the economy’s dollar value between the first halves of 2025 and 2026.
The ministry said the latest figures strengthened Nigeria’s prospects of achieving the Federal Government’s target of a $1 trillion economy by 2030, while sustained reforms, macroeconomic stability and investment would be critical to translating growth into higher incomes and improved living standards. “These results underscore the importance of sustaining our reforms and ensuring policy consistency,” it said.