Nigeria’s economy is showing stronger signs of growth, with real Gross Domestic Product (GDP) expanding by 4.43 per cent year-on-year in the second quarter of 2026, the Federal Ministry of Finance has said.
The Q2 2026 growth rate increased from 4.23 per cent recorded in Q2 2025 and 3.89 per cent in Q1 2026, indicating sustained economic recovery and stronger activity across key sectors.
The Ministry, in a statement on Tuesday, said the strong Q2 performance lifted real GDP growth for the first half of 2026 to 4.16 per cent, compared with 3.68 per cent in the corresponding period of 2025.
It said the growth was 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.
Manufacturing grew by 3.24 per cent, more than double the 1.60 per cent recorded in Q2 2025, while agriculture expanded by 4.39 per cent from 2.82 per cent.
Services, the largest driver of growth, also strengthened, expanding by 4.60 per cent compared with 3.94 per cent in Q2 2025.
The Ministry said the relative stability and steady appreciation of the exchange rate further boosted the gains in dollar terms. According to the statement, the naira appreciated by more than 12 per cent between H1 2025 and H1 2026, contributing to an approximately 17 per cent expansion of the economy in US dollar terms.
It said sustained economic growth, exchange-rate stability and government social programmes could strengthen dollar incomes, improve purchasing power and help lift millions of Nigerians out of poverty.
With the current momentum, the Ministry said Nigeria is well positioned to consolidate its place among Africa’s largest economies and advance towards the government’s target of a $1 trillion economy by 2030.
It added that the International Monetary Fund has 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.
The Ministry further said continued macroeconomic stability, sustained growth across productive sectors and improving investor confidence could accelerate Nigeria’s progress towards becoming Africa’s largest economy by 2028.
It stressed that sustaining economic reforms and ensuring policy consistency would be critical to translating the improving macroeconomic figures into better living conditions and shared prosperity for Nigerians.
The government, it said, remains focused on accelerating inclusive growth and ensuring that the benefits of economic expansion reach households across the country.
