The Nigeria Employers’ Consultative Association (NECA) has described Nigeria’s 4.43 percent real GDP growth in the second quarter of 2026 as a positive signal of economic recovery, but cautioned that the expansion does not yet amount to full recovery.
Adewale-Smatt Oyerinde, Director-General of NECA, said the latest GDP figures showed that the economy was gaining momentum, with growth strengthening for the second consecutive quarter. He noted that the Q2 expansion was the strongest quarterly growth recorded since Q3 2024.
However, Oyerinde said the headline growth figure should not obscure the difficult operating environment facing businesses and households across the country. According to him, the disconnect between GDP growth and prevailing business conditions remains a major concern, particularly as industrial growth continues to face significant constraints.
He identified high energy costs, inadequate infrastructure, limited access to affordable credit, weak purchasing power and rising production costs as factors undermining business performance.
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