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 NBS said
“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.”
In terms of share of the GDP, the statistics body said the services sector contributed more to the aggregate GDP in Q1 of 2026 at 57.73 percent compared to the corresponding quarter of 2025 at 57.5 percent.
It further noted that aggregate GDP stood at N110.78 trillion in nominal terms in the quarter under review.
According to the bureau, this performance is higher when compared to the first quarter of 2025, which recorded an aggregate GDP of N94 trillion, indicating a year-on-year nominal growth of 17.79 percent.
On the other hand, Nigeria’s real GDP stood at N51.26 trillion in Q1 2026, the NBS report said.
The NBS further said the country recorded an average daily oil production of 1.55 million barrels per day (mbpd) in Q1 2026.
The reported drilling performance is lower than the daily average output of 1.62 mbpd by 0.06 mbpd and lower than the fourth quarter of 2025 production volume 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% points relative to the rate recorded in the corresponding quarter of 2025 (1.87%),” it said.
“Growth decreased by 4.22% points when compared to Q4 2025, which was 6.79%. On a quarter-on-quarter basis, the oil sector recorded a growth rate of 9.31% in Q1 2026.”
The report also said the oil sector contributed 3.92 percent to the total real GDP in Q1 2026, down from the figure recorded in the corresponding period of 2025 at 3.97 percent and up from the preceding quarter, where it contributed 2.87 percent.
According to the bureau, in real terms, the non-oil sector contributed 96.08 percent 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 percent and lower than the 97.13 percent recorded in Q4 2025.
“The non-oil sector grew by 3.94 percent in real terms during the reference quarter (Q1 2026),” the NBS report reads.
“This rate was higher by 0.75% 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.”
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”.
