Nigeria records 4.43% second-quarter growth as Tinubu promises prosperity
President Bola Tinubu says Nigeria’s economy grew by more than 4% in 2026, with both oil and non-oil sectors contributing. National Bureau of Statistics data put second-quarter real GDP growth at 4.43%, while analysts and employers cautioned that stronger output had not yet translated into equivalent improvements in household living standards.
Nigeria’s economy grew by 4.43% year-on-year in the second quarter of 2026, according to National Bureau of Statistics data cited alongside President Bola Tinubu’s Independence Day address. Tinubu said the economy had expanded by more than 4% during the year, with contributions from the oil and non-oil sectors. Second-quarter growth was higher than the 3.89% recorded in the first quarter and 4.23% in the same period of 2025.
The performance brought first-half growth to about 4.16%, compared with 3.68% in the first half of 2025. The quarter was described in the supplied material as the strongest quarterly expansion since the third quarter of 2024. The non-oil sector accounted for 95.84% of real GDP in the second quarter and grew by 4.31%.
Services remained the largest contributor, representing 56.62% of output and expanding by 4.60%. Agriculture accounted for 26.15% of real GDP and grew by 4.39%, up from 2.82% in the same quarter of 2025. The oil sector grew by 7.31%, although it represented 4.16% of total real GDP.
Average daily crude production rose to 1.72 million barrels from 1.68 million barrels a year earlier. Tinubu said oil theft had declined, inflation had fallen from its peak, foreign reserves had been rebuilt and the foreign exchange market had stabilised. He also said non-oil exports generated more than $6bn in 2025.
However, analysts cautioned that headline growth did not necessarily mean households had experienced a similar improvement in living standards. The Nigeria Employers’ Consultative Association called the figures a positive signal but said the recovery remained fragile. Tinubu said the government would focus on reducing production and transport costs, expanding irrigation and mechanisation, improving storage and investing in roads, railways and ports.
He said gas, digital connectivity, skills and business finance would also support industrial growth. The president acknowledged continuing hardship and said the government would maintain social protection and credit programmes while seeking sustained growth and productive jobs.
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