Nigeria’s GDP Grows By 3.89%

Nigeria’s Gross Domestic Product (GDP) grew by 3.89% (year-on-year) in real terms in the first quarter of 2026, higher than the 3.13% recorded in the first quarter of 2025.

Naija News reports that this was disclosed in a report on Monday by the National Bureau of Statistics (NBS).

According to the data released, agriculture grew by 3.15% during the quarter under review, an improvement from the 0.07% recorded in the corresponding quarter of 2025.

The growth of the industry sector stood at 3.50% from 3.42% recorded in the first quarter of 2025, while the services sector recorded a growth of 4.31% from 4.33% in the same quarter of 2025.

In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the first quarter of 2026 at 57.73% compared to the corresponding quarter of 2025 at 57.50%.

In the quarter under review, aggregate GDP at basic price stood at ₦110,786,347.01 million in nominal terms.

This performance is higher when compared to the first quarter of 2025, which recorded an aggregate GDP of ₦94,051,733.20 million, indicating a year-on-year nominal growth of 17.79%.

Oil And Non-oil Sectors

According to a breakdown by the NBS, the country in the first quarter of 2026 recorded an average daily oil production of 1.55 million barrels per day (mbpd), lower than the daily average production of 1.62 mbpd recorded in the same quarter of 2025 by 0.06 mbpd and lower than the fourth quarter of 2025 production volume of 1.58 mbpd by 0.03 mbpd.

The real growth of the oil sector was 2.57 (year-on-year) in Q1 2026, indicating an increase of 0.70% points relative to the rate recorded in the corresponding quarter of 2025 (1.87%).

Growth decreased by 4.22% points when compared to Q4 2025, which was 6.79%. On a quarter-on-quarter basis, the oil sector recorded a growth rate of 9.31% in Q1 2026. The Oil sector contributed 3.92% to the total real GDP in Q1 2026, down from the figure recorded in the corresponding period of 2025 at 3.97%. and up from the preceding quarter, where it contributed 2.87%.

The non-oil sector grew by 3.94% in real terms during the reference quarter (Q1 2026). This rate was higher by 0.75% points compared to the rate recorded in the same quarter of 2025, which was 3.19%, and lower than the 3.99% recorded in the fourth quarter of 2025.

This sector was driven in the first quarter of 2026 mainly by Information and Communication (Telecommunications); Agriculture (Crop production); Trade; Manufacturing (Cement); Financial & Insurance (Financial Institutions); Real Estate; Construction; and Transportation and Storage (Road Transport), accounting for positive GDP growth.

In real terms, the NBS reports that non-oil sector contributed 96.08% to the nation’s GDP in the first quarter of 2026, higher than the share recorded in the first quarter of 2025, which was 96.03%, and lower than the fourth quarter of 2025, recorded as 97.13%.

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