Nigeria’s Gross Domestic Product (GDP) growth rate slowed to 3.89% year-on-year in real terms for the first quarter (Q1) of 2026, according to the latest official data.
The National Bureau of Statistics (NBS) announced the development in its latest GDP report for Q1 2026 on Monday.
The figures indicate a deceleration in economic momentum when compared to previous quarters, such as the 4.23% growth experienced in mid-2025. “During the quarter under review, agriculture grew by 3.15%, an improvement from the 0.07% recorded in the corresponding quarter of 2025. “The growth of the industry sector stood at 3.50% from 3.42% recorded in the first quarter of 2025, while the services sector recorded a growth of 4.31% from 4.33% in the same quarter of 2025”, the NBS said.
In terms of share of the GDP, the Bureau said the services sector contributed more to the aggregate GDP in Q1 of 2026 at 57.73%, when compared to the corresponding quarter of 2025 at 57.5%. It further noted that aggregate GDP stood at ₦110.78 trillion in nominal terms in the quarter under review.
The NBS further said the country recorded an average daily oil production of 1.55 million barrels per day (mbpd) in Q1 2026.
The report also said the oil sector contributed 3.92% to the total real GDP in Q1 2026, down from the figure recorded in the corresponding period of 2025 at 3.97%, and up from the preceding quarter, where it contributed 2.87%. According to the Bureau, in real terms, the non-oil sector contributed 96.08% to the nation’s GDP in the review quarter. This, the statistics body said, is higher than the share recorded in Q1 2025, which was 96.03%, and lower than the 97.13% recorded in Q4 2025.
The data Bureau further said the non-oil sector was driven in Q1 2026 mainly by “information and communication (telecommunications); agriculture (crop production); trade; manufacturing (cement); financial & insurance (financial institutions); real estate; construction; and transportation and storage (road transport), accounting for positive GDP growth”.
