Manufacturing, Agriculture drive Nigeria’s GDP growth to 4.43% in Q2 2026

Strong performance across Nigeria’s productive sectors, driven by accelerated output in agriculture and manufacturing, propelled the country’s real Gross Domestic Product (GDP) growth to 4.43 per cent year-on-year in the second quarter of 2026.

According to data released by the Federal Ministry of Finance on Tuesday, the industrial and agrarian expansion helped lift overall quarterly growth from 3.89 per cent in Q1 2026 and 4.23 per cent in the corresponding period of 2025.

This performance raised real GDP growth for the first half of 2026 to 4.16 per cent, up from 3.68 per cent recorded in the first half of 2025.

The manufacturing sector recorded a significant turnaround, expanding by 3.24 per cent in Q2 2026 more than doubling the 1.60 per cent growth rate posted during the same quarter of the previous year.

The Ministry attributed the rebound to heightened industrial activity and stronger factory output.

Simultaneously, the agricultural sector demonstrated robust momentum, expanding by 4.39 per cent compared to 2.82 per cent in Q2 2025, reflecting marked improvements in crop production and value-chain efficiency.

The services sector maintained its lead as the largest overall driver of economic activity, expanding by 4.60 per cent compared to 3.94 per cent in the previous year.

The expansion was broad-based, with 27 economic subsectors recording real growth above 3.0 per cent during the quarter, an increase from 23 subsectors in Q2 2025.

The economic gains were further reinforced by foreign exchange stability, with the naira appreciating by over 12 per cent between H1 2025 and H1 2026.

This appreciation expanded Nigeria’s economy by roughly 17 per cent in U.S. dollar terms over the period, bolstering purchasing power and advancing the Federal Government’s target of reaching a USD 1 trillion GDP by 2030.

Citing projections from the International Monetary Fund (IMF), the Ministry noted that Nigeria is currently ranked among the top 10 global contributors to real GDP growth in 2026, expected to generate approximately 1.5 per cent of total world output growth.

The Ministry reaffirmed the government’s commitment to policy consistency and macroeconomic reforms to ensure the productive gains translate directly into improved living standards for households nationwide.