Nigeria’s Economy Grows 3.89% in Q1 2026 as Services Sector Leads Expansion

Nigeria’s economy recorded a real Gross Domestic Product (GDP) growth of 3.89% year-on-year in the first quarter of 2026, according to the latest data from the National Bureau of Statistics.

The figure reflects a slight slowdown compared to the 4.07% growth recorded in the previous quarter, although it remains higher than the 3.13% posted in the same period of 2025, indicating continued but moderating expansion.

The services sector remained the strongest driver of growth, contributing the largest share to overall output, supported by activities in telecommunications, trade, finance, real estate, and transport.

Agriculture also posted improved performance during the period, rebounding from weaker growth in the previous year, while the industrial sector recorded modest but steady gains.

Oil production contributed positively to overall output, though sector growth slowed compared to the previous quarter, reflecting ongoing fluctuations in global energy conditions and domestic production levels.

Overall, the report highlights a broadly stable economic recovery pattern, driven mainly by non-oil sectors, even as challenges around productivity, inflation pressures, and structural constraints continue to shape Nigeria’s growth outlook.