Nigeria’s Gross Domestic Product (GDP) grew by 3.89 per cent in real terms in the first quarter of 2026, reflecting stronger economic activities across key sectors of the economy despite persistent inflationary pressures and declining crude oil production.
The latest GDP report released by the National Bureau of Statistics (NBS) on Monday, showed that the growth rate exceeded the 3.13 per cent recorded in the corresponding quarter of 2025, indicating improved performance in telecommunications, agriculture, trade, construction, financial services and other non-oil sectors.
According to the report, Nigeria’s economy was largely driven by the non-oil sector, which contributed 96.08 per cent to total real GDP during the quarter under review, while the oil sector accounted for 3.92 per cent.
The NBS disclosed that aggregate GDP at basic prices stood at N110.79 trillion in nominal terms in Q1 2026, representing a year-on-year nominal increase of 17.79 per cent compared to N94.05
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