The Federal Ministry of Finance disclosed this in a statement issued in Abuja on Tuesday, September 1, 2026, noting that the latest figures reflected sustained and increasingly broad-based economic growth.
The Q2 performance was higher than the 4.23 per cent recorded in the corresponding quarter of 2025 and the 3.89 per cent recorded in the first quarter of 2026.
The ministry said the latest growth lifted real GDP expansion for the first half of 2026 to 4.16 per cent, compared with 3.68 per cent recorded during the same period in 2025.
It also noted that 27 economic subsectors recorded real growth of more than three per cent in Q2 2026, compared with 23 subsectors in the corresponding period of 2025.
The productive sectors recorded stronger performances during the quarter, with manufacturing growing by 3.24 per cent, up from 1.60 per cent in Q2 2025.
Agriculture also expanded by 4.39 per cent, compared with 2.82 per cent a year earlier, while the services sector, which remains the largest contributor to economic growth, accelerated to 4.60 per cent from 3.94 per cent.
The oil sector recorded a significant improvement, with average crude oil production rising to 1.72 million barrels per day from 1.55 million barrels per day in Q1 2026.
The sector grew by 7.31 per cent year-on-year, while the non-oil sector expanded by 4.31 per cent and accounted for 95.84 per cent of real GDP.
The ministry also attributed part of the increase in the dollar value of the economy to the relative stability and appreciation of the naira.
According to the ministry, the naira 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 US-dollar terms.
It said sustained economic growth, combined with the government’s social programmes, could strengthen dollar incomes, improve purchasing power and help reduce poverty.
“Given this momentum, Nigeria is well positioned to consolidate its standing among Africa’s largest economies and to advance toward the Government’s target of a USD 1 trillion economy by 2030,” the ministry said.
The ministry further stated that the International Monetary Fund had ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting that the country would account for approximately 1.5 per cent of global growth during the year.
It added that continued macroeconomic stability, growth in productive sectors and improved investor confidence could accelerate Nigeria’s progression towards becoming Africa’s largest economy by 2028.
The government, however, acknowledged that maintaining the growth trajectory would require policy consistency and continued implementation of economic reforms.
It said its focus remained on ensuring that the benefits of economic expansion translated into improved living standards and shared prosperity for Nigerians.
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