Nigeria’s economy expanded by 3.89 per cent in real terms in the first quarter of 2026 amid a decline in crude oil production, with growth driven largely by agriculture, telecommunications, financial services, construction, and trade activities.
Data released by the National Bureau of Statistics on Monday showed that the country’s Gross Domestic Product grew faster than the 3.13 per cent recorded in the corresponding period of 2025, extending the economy’s recovery momentum amid continued dominance of the non-oil sector.
The bureau stated, “Gross Domestic Product grew by 3.89 per cent (year-on-year) in real terms in the first quarter of 2026, higher than the 3.13 per cent recorded in the first quarter of 2025.”
It added that agriculture grew by 3.15 per cent during the quarter, compared with 0.07 per cent in the corresponding quarter of 2025, while industry recorded a growth rate of 3.50 per cent from 3.42 per cent a year earlier.
The services sector grew by 4.31 per cent, slightly below the 4.33 per cent recorded in the same period of 2025.
