The National Bureau of Statistics (NBS) has revealed that Nigeria Gross Domestic Product (GDP) grew by 3.89% (year on year) in real terms in the first quarter of 2026.
According to a report released by the NBS, the Statistician-General of the National Bureau of Statistics, Prince Adeyemi Adeniran, said agriculture grew by 3.15%, an improvement from the 0.07% recorded in the corresponding quarter.
“For better clarity, the Nigerian economy has been classified broadly into the oil and non-oil sectors in 2025, while the services sector recorded a growth of 4.31% from 4.33% in the same quarter of 2025.
“The growth of the industry sector stood at 3.50% from 3.42% recorded in the first quarter. In terms of share of GDP, the services sector contributed more to the aggregate GDP. In the quarter under review, aggregate GDP at basic price stood at ₦110,786,347.01 million in nominal terms. This performance is higher when compared to the first quarter of 2025.”
NBS data revealed that the nation in the first quarter of 2026 recorded an average daily oil production of 1.55 million barrels per day (mbpd), lower than the daily average production of 1.62 mbpd recorded in the same quarter of 2025 by 0.06 mbpd and lower than the fourth quarter of 2025 production of 1.58 mbpd by 0.03 mbpd.
“The real growth of the oil sector was 2.57% (year on year) in Q1 2026, indicating an increase of 0.70%. The oil sector contributed 3.92% compared to Q4 2025, which was 6.79%. On a quarter-on-quarter basis, the oil GDP in Q1 2026 declined from the figure recorded in the corresponding period of 2025 at 3.97% and increased by 0.60 percentage points relative to the rate recorded in the corresponding quarter of 2025 (1.87%). Growth decreased from the preceding quarter, where it contributed 2.87%.”
Adeniran said the non-oil sector grew by 3.94% in real terms during the reference quarter (Q1 2026). This rate was higher by 0.75 percentage points compared to the rate recorded in the same quarter of 2025, which was 3.19%, and lower than the 3.99% recorded in the fourth quarter of 2025.
“This sector contributed 96.08% to the nation’s GDP in the first quarter of 2026, higher than the share recorded in the first quarter of 2025, which was 96.03%.”
The Mining and Quarrying sector consists of crude petroleum and natural gas, coal mining, metal ores, and quarrying and other minerals, contributing 4.23% to overall GDP in Q1 2026. Crude petroleum and natural gas was the main contributor compared to the same quarter of 2025.
“This sector grew nominally by 13.92% (year on year) in Q1 2026, higher than the rate of 4.22% recorded in the corresponding quarter of 2025. The Mining and Quarrying sector contributed 4.23% to the overall GDP in the first quarter of 2026.”
“Crude oil activity exhibited the highest growth rate among sub-activities at 16.37%, followed by other components within the Mining and Quarrying sector’s contribution to real GDP in the quarter under review.”
NBS further stated that the manufacturing sector is comprised of thirteen activities: oil refining; cement; food and beverages; chemical and pharmaceutical products; non-metallic products; plastic and rubber; and other manufacturing activities.
GDP growth in the manufacturing sector in the first quarter of 2026 was 3.29% (year on year), and Tobacco; Textile, Apparel, and Footwear; Wood and Wood products; Pulp, Paper and Paper products; Electrical and Electronic; Basic Metal and Iron and Steel; Motor Vehicles and Assembly. Nominal GDP growth of the manufacturing sector in the first quarter of 2026 was 10.22%.
The real contribution to GDP in the first quarter of 2026 was 9.57%, lower than the 9.62% recorded in the first quarter of 2025 and higher than the 7.40% recorded in the fourth quarter of 2025.
The Electricity, Gas, Steam, and Air Conditioning Supply sector recorded a year-on-year growth of -70.14%. The contribution of this sector to real GDP in the first quarter of 2026 was 0.28%, and the sector grew by 15.30% in Q1 2026, a decrease from the growth rate of 18.65% in the corresponding quarter of 2025.
Transportation and storage, information and communication, accommodation, and other sectors also contributed to GDP growth.
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