Nigeria Q1 2026 GDP grows 3.89% on non oil sector

Nigeria’s economy grew at an annual rate of 3.89 percent in the first quarter of 2026, according to official data released on Monday. The National Bureau of Statistics reported that this pace represents an improvement from the 3.13 percent growth recorded in the same period last year, though it marks a slight slowdown from the 4.07 percent expansion in the final quarter of 2025.

The growth was driven primarily by the non-oil sector, which contributed 96.08 percent to the nation’s real Gross Domestic Product. Key drivers included telecommunications, crop production, trade, and financial services. The services sector remained the largest component of the economy, accounting for 57.73 percent of total output.

In nominal terms, the size of the economy expanded to N110.79 trillion, a 17.79 percent increase from the N94.05 trillion recorded in the first quarter of 2025. In real terms, GDP stood at N51.26 trillion.

Sectoral performance was mixed. Agriculture saw significant improvement, growing by 3.15 percent compared to a near-stagnant 0.07 percent a year earlier. The industry sector grew at 3.50 percent, a marginal increase from 3.42 percent in the first quarter of 2025. The services...