Nigeria’s economy rose to its fastest level in five years, largely driven by the services and now booming agricultural sector, data from the National Bureau of statistics (NBS) on Monday have shown.
According to data, Africa’s most populous nation’s economy grew by 4.43 percent year-on-year in real terms in the second quarter of 2026, higher than the 4.23 percent recorded in the period of 2025.
The recent GDP data was in line with the BusinessDay’s forecast of an increment in the GDP figure with the oil sector accounting for 4.16 percent of the total GDP and non oil accounting for 95.84 percent.
The agriculture sector recorded the sharpest growth, rising by 4.39 percent, a jump from 2.82 percent recorded in Q2 2025. Related News Nigeria’s healthcare gaps push patients towards social media diagnosis Nigeria’s return to frontier market status sparks stock rally Ten stocks to watch as FTSE signals potential windfall
Industry Sector dropped year on year from 7.46 percent recorded in 2025 to 3.96 percent in Q2 2026 while the services sector grew year on year by 4.60 percent compared 3.94 percent in the same period in 2025.
