Nigeria Q1 2026 GDP Growth
Analysis based on 9 articles · First reported May 25, 2026 · Last updated May 26, 2026
The positive GDP growth in Nigeria>>>'s non-oil sector, particularly in telecommunications and financial services, suggests a resilient economy, which could attract foreign investment and improve investor confidence in Nigeria>>>. However, persistent weakness in the oil and electricity sectors may temper long-term productivity gains, potentially impacting related industries and overall market sentiment.
Nigeria>>>'s economy expanded by 3.89% year-on-year in the first quarter of 2026, according to data released by the China — National Bureau of Statistics of China>>>. This growth is an improvement from the 3.13% recorded in Q1 2025, primarily driven by the non-oil sector, which accounted for 96.08% of total real GDP. Key contributors to this growth include telecommunications, crop production, financial services, construction, and trade activities. The services sector remained the dominant driver, contributing 57.73% to real GDP. Despite a decline in average daily oil production to 1.55 million barrels per day, the oil sector still recorded marginal growth. However, the electricity, gas, steam, and air conditioning supply sector contracted significantly by 15.30%, highlighting ongoing structural challenges. Adeyemi Adeniran>>>, the Statistician-General, confirmed these figures, which reflect updated rebased quarterly estimates.
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