Nigeria’s gross domestic product (GDP) growth rate has slowed to 3.89 percent year-on-year in real terms in the first quarter (Q1) of 2026.
This was contained in the latest report released by the National Bureau of Statistics (NBS) on Monday.
The figure represents a slight decline from the 4.07 per cent growth recorded in the fourth quarter of 2025, although it was higher than the 3.13 per cent growth posted in the corresponding period of 2025.
In its Q1 2026 GDP report, the NBS attributed the growth largely to improved performance in agriculture, industry and key non-oil sectors of the economy.
“During the quarter under review, agriculture grew by 3.15%, an improvement from the 0.07% recorded in the corresponding quarter of 2025,” the bureau stated.
The statistics agency added that the industry sector grew by 3.50 per cent in Q1 2026, slightly higher than the 3.42 per cent recorded in the same period last year, while the services sector expanded by 4.31 per cent compared to 4.33 per cent in Q1 2025.
According to the report, the services sector remained the largest contributor to the economy, accounting for 57.73 per cent of aggregate GDP in the review period, marginally above the 57.50 per cent contribution recorded in the corresponding quarter of 2025.
The NBS said aggregate GDP stood at N110.78 trillion in nominal terms during the quarter, compared to N94 trillion in Q1 2025, representing a nominal year-on-year growth of 17.79 per cent.
Nigeria’s real GDP was estimated at N51.26 trillion in the first quarter of 2026.
The report also showed that average daily crude oil production declined to 1.55 million barrels per day (mbpd) during the quarter, lower than the 1.62 mbpd recorded in Q1 2025 and below the 1.58 mbpd achieved in the fourth quarter of 2025.
Despite the lower production volume, the oil sector recorded a real growth rate of 2.57 per cent year-on-year in Q1 2026, higher than the 1.87 per cent posted in the corresponding quarter of 2025.
“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,” the NBS said.
However, the bureau noted that oil sector growth slowed significantly compared to the 6.79 per cent recorded in Q4 2025.
The oil sector contributed 3.92 per cent to total real GDP in Q1 2026, slightly lower than the 3.97 per cent contribution recorded in Q1 2025 but higher than the 2.87 per cent recorded in the preceding quarter.
Meanwhile, the non-oil sector continued to dominate economic activity, contributing 96.08 per cent to real GDP during the review period.
According to the NBS, the non-oil sector grew by 3.94 per cent in real terms, surpassing the 3.19 per cent growth recorded in Q1 2025 but marginally below the 3.99 per cent posted in Q4 2025.
The bureau said the performance of the non-oil economy was driven mainly by telecommunications, crop production, trade, cement manufacturing, financial institutions, real estate, construction, and road transportation activities.
“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,” the report added.