Nigeria’s economy expanded 4.43 per cent year-on-year in the second quarter of 2026, the Federal Ministry of Finance said on Tuesday, strengthening the country’s push toward a projected $1 trillion economy by 2030.
The Q2 print beat the 4.23 per cent recorded in the same period of 2025 and the 3.89 per cent posted in Q1 2026, lifting first-half growth to 4.16 per cent, against 3.68 per cent in H1 2025.
Growth was also more broad-based, the ministry said, with 27 economic subsectors recording real growth above three per cent, up from 23 a year earlier.
Manufacturing accelerated to 3.24 per cent from 1.60 per cent in Q2 2025, while agriculture expanded 4.39 per cent, compared with 2.82 per cent a year earlier.
The largest contributor to growth rose 4.60 per cent, from 3.94 per cent. The ministry credited stronger activity across productive sectors and improved stability in the foreign exchange market.
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The naira appreciated more than 12 per cent between H1 2025 and H1 2026, contributing to roughly 17 per cent expansion of the economy in dollar terms over the period.
Combined with government social programmes, the ministry said, sustained growth could strengthen dollar incomes, boost purchasing power and lift millions of Nigerians out of poverty.
The International Monetary Fund has ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting the country will account for about 1.5 per cent of worldwide growth this year — ahead of several advanced and emerging economies.
If current momentum holds, Nigeria could become Africa’s largest economy by 2028, the ministry said, while stressing that sustained reforms and policy consistency remain critical to ensuring economic gains reach households.
NAN
