Nigeria’s GDP grew by 3.89% in the first quarter of 2026, with stronger activity in agriculture, telecommunications, construction and financial services helping to drive growth above last year’s level.
New figures released on Monday by the National Bureau of Statistics showed the economy grew faster than the 3.13% recorded in the same period of 2025.
Still, growth slowed slightly from the 3.99% posted in the fourth quarter of 2025.
The report points to resilience in the non-oil sector, even as crude oil production weakened during the quarter.
Agriculture recorded one of the strongest improvements. The sector grew by 3.15% in real terms, compared with just 0.07% in the first quarter of last year. Crop production was the biggest driver within the sector.
Services were the largest part of the economy, contributing 57.73% to total GDP. The sector expanded by 4.31% during the quarter, although that was slightly below the 4.33% growth recorded a year earlier.
Industry also improved moderately, growing by 3.50% from 3.42% in the corresponding period of 2025.
Nigeria’s non-oil sector continued to carry most of the economy. According to the NBS, the sector grew by 3.94% in real terms and accounted for 96.08% of total GDP in the quarter.
Telecommunications, crop production, trade, cement manufacturing, financial institutions, real estate, construction and road transport were among the sectors that supported growth.
Telecommunications was one of the strongest performers. Information and communication activities grew by 10.98% year-on-year and contributed 11.31% to real GDP, higher than the 10.59% recorded in the same quarter of 2025.
Trade contributed 17.89% to real GDP, while real estate accounted for 13.10%. The finance and insurance sector grew by 8.54%, and construction expanded by 6.38%.
In nominal terms, the country’s GDP stood at N110.79 trillion in the first quarter of 2026. That represents a 17.79% increase from the N94.05 trillion recorded in the same period last year.
Oil production, however, was under stress. Average daily crude oil output fell to 1.55 million barrels per day, lower than the 1.62 million barrels per day recorded in the first quarter of 2025. Production also dropped slightly from the 1.58 million barrels per day posted in the previous quarter.
Even with weaker output, the oil sector still recorded real growth of 2.57%, up from 1.87% a year earlier. Its contribution to total real GDP stood at 3.92%, slightly below the 3.97% recorded in the corresponding quarter of 2025.
The report also showed mixed performances across other sectors. Arts, entertainment and recreation recorded strong growth of 11.25%. On the other hand, electricity, gas, steam and air conditioning supply contracted by 15.30% in real terms.
Education growth slowed to 1.22%, down from 2.47% in the same period last year.
Nigeria is currently dealing with high inflation, expensive living costs and pressure on household spending. Inflation has remained above 15% despite ongoing reforms aimed at stabilising the economy.
Since 2025, the federal government has pushed ahead with policies including fuel subsidy removal, exchange rate unification and fiscal reforms as it tries to strengthen public finances and attract investment.
Compared with some African economies, Nigeria’s latest GDP growth figure placed it ahead of South Africa, where growth slowed to 1.9% in the same period. Ghana recorded 3.5% growth in the first quarter of 2026.
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