• Non-oil sector contributed 96.08%, oil 3.92%
Nigeria's GDP grew 3.89% in Q1 2026 (down from 4.07% in Q4 2025), with services at 57.73% of output and oil production falling to 1.55 mbpd. Non-oil sectors now represent 96.08% of real GDP, a structural shift toward services and finance relevant for firms evaluating digital market exposure in West Africa.
• Non-oil sector contributed 96.08%, oil 3.92%
• Oil production drops to 1.55 million barrels per day
James Emejo in Abuja
The country’s Gross Domestic Product (GDP) growth rate declined to 3.89 per cent in the first quarter of the year (Q1 2026) compared to 4.07 per cent in the preceding quarter, the National Bureau of Statistics (NBS) revealed yesterday.
However, year-on-year, GDP was higher than the 3.13 per cent recorded in Q1 2025.
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Nigeria's economy expanded by 3.89% in Q1 2026, driven by agriculture, telecom, and financial services, despite lower oil output.…
The latest GDP figures show the services sector remained the strongest driver of economic activity in the first quarter of 2026.
The National Bureau of Statistics, NBS, announced the development in its latest GDP report for Q1 2026 on Monday.
Nigeria's GDP grew by 3.89% in Q1 2026, driven by strong performance in agriculture and telecommunications, despite a decline in…
Nigeria’s Gross Domestic Product (GDP) rose to 3.89 per cent in the first quarter of this year, Q1’26, representing a 0.76…
By Babajide Komolafe Financial institutions including banks and insurance firms recorded a 8.5 per cent growth in real Gross…
