Nigeria’s economy grew by 3.89 percent in real terms in the first quarter of 2026, according to the National Bureau of Statistics.
The NBS said in its Q1 2026 GDP report released on Monday that the rate was lower than the 4.07 percent recorded in the fourth quarter of 2025, but higher than the 3.13 percent posted in the first quarter of 2025.
Agriculture grew by 3.15 percent, up from 0.07 percent in Q1 2025. Industry expanded by 3.50 percent compared to 3.42 percent a year earlier, while services grew by 4.31 percent, slightly below the 4.33 percent recorded in Q1 2025.
The services sector remained the largest contributor to GDP at 57.73 percent, followed by the non-oil sector which accounted for 96.08 percent of total output. The non-oil sector grew by 3.94 percent, driven by information and communication, agriculture, trade, manufacturing, finance and insurance, real estate, construction, and transport.
Nominal GDP stood at N110.78 trillion in Q1 2026, up 17.79 percent from N94 trillion in the same period of 2025. Real GDP was put at N51.26 trillion.
Oil production averaged 1.55 million barrels per day in the quarter, down from 1.58 mbpd in Q4 2025 and 1.62 mbpd in Q1 2025. The oil sector grew by 2.57 percent year-on-year but contracted by 4.22 percentage points compared to the previous quarter. It contributed 3.92 percent to real GDP in Q1 2026.
