By Gloria
Nigeria’s economy expanded by 4.43 per cent in real terms in the second quarter of 2026, strengthening the Federal Government’s push to build a $1 trillion economy by 2030.
The latest figure, released by the Federal Ministry of Finance on Tuesday, represents an improvement on the 4.23 per cent recorded in the second quarter of 2025 and 3.89 per cent in the first quarter of 2026. 
According to the ministry, performance showed that the economy was gaining momentum, with growth spreading across more sectors.
“The strong Q2 2026 outturn lifted real GDP growth for the first half of 2026 to 4.16 per cent, up from 3.68 per cent in the corresponding period of 2025, a clear signal of sustained strengthening across the economy,” the statement read.
According to the ministry, 27 economic subsectors recorded real growth above three per cent during the quarter, compared with 23 subsectors in Q2 2025.
“Growth is also becoming more broad-based.
It added: “In Q2 2026, 27 economic subsectors recorded real growth above 3.0 per cent, up from 23 subsectors in Q2 2025, showing that expansion is no longer concentrated in a handful of industries,” the ministry said.
The productive sectors recorded notable improvements, with manufacturing, agriculture and services all posting stronger growth than in the corresponding period of 2025.
“Manufacturing grew by 3.24 per cent, more than double the 1.60 per cent recorded in Q2 2025, reflecting improved industrial output.
“Agriculture expanded by 4.39 per cent, up from 2.82 per cent, underscoring stronger production and value-chain performance,” the ministry stated.
The services sector, which remains the largest contributor to economic activity, also recorded stronger growth.
“Services, the largest driver of growth, expanded by 4.60 per cent, up from 3.94 per cent,” it said.
The ministry also pointed to the relative stability and appreciation of the naira as another factor boosting Nigeria’s economic performance in dollar terms.
“The naira appreciated by more than 12 per cent between H1 2025 and H1 2026, resulting in an expansion of the economy by approximately 17 per cent in U.S. dollar terms over the period,” it noted.
The ministry said the trend, if sustained alongside the government’s social programmes, could have a direct impact on household incomes and living standards.
It said the pace of growth “will meaningfully strengthen dollar incomes, improve purchasing power and lift millions of Nigerians out of poverty”.
With the latest figures, the government said Nigeria was now better positioned to pursue its ambitious $1 trillion economic target.
“Given this momentum, Nigeria is well positioned to consolidate its standing among Africa’s largest economies and to advance toward the Government’s target of a USD 1 trillion economy by 2030,” it said.
The ministry also cited the International Monetary Fund’s projection that Nigeria would rank among the top 10 contributors to global real GDP growth in 2026 and account for roughly 1.5 per cent of world growth.
It said sustained reforms and policy consistency will be critical to keeping the momentum going.
“These results underscore the importance of sustaining our reforms and ensuring policy consistency as their benefits begin to reach households across the country.
“The Government remains focused on accelerating inclusive growth and translating these macroeconomic gains into shared prosperity for every Nigerian family,” the statement further read.”
