Nigeria's economy grows over 4% in 2026, Tinubu reports
Nigeria's economy grew by over 4% in 2026, according to President Bola Tinubu.
In Brief
- •Nigeria's economy grew by over 4% in 2026, according to President Bola Tinubu.
- •The National Bureau of Statistics (NBS) reported a 4.43% year-on-year growth in the second quarter of 2026.
- •The non-oil sector contributed 95.84% to the real GDP, with the services sector being the largest contributor.
- •Oil theft has declined, inflation has fallen, and foreign reserves have been rebuilt under Tinubu's administration.
- •President Tinubu announced more than $6 billion in non-oil export revenue in 2025, the highest in the country's history.
Why It Matters
Nigeria's economic growth is a significant development for the country, indicating a shift towards broader prosperity. The growth in the non-oil sector is particularly notable, as it shows diversification and resilience in the face of economic challenges. The improvements in oil theft, inflation, and foreign reserves are crucial for stabilizing the economy and attracting foreign investment. These developments are expected to have a positive impact on the country's economic outlook and the living standards of its citizens.
Key Details
- GDP Growth Rate
- 4.43% (Q2 2026)
- Non-Oil Sector Contribution
- 95.84%
- Services Sector Contribution
- 56.62%
- Agriculture Sector Growth
- 4.39%
- Oil Sector Growth
- 7.31%
- Non-Oil Export Revenue
- $6 billion (2025)
Context & Background
Nigeria's economy has been experiencing gradual recovery, with growth rates improving from 3.38% in 2024 to 3.87% in 2025. The Q2 2026 expansion was the strongest quarterly growth recorded since the third quarter of 2024.
Original Reporting & Sources
VNews is an independent briefing product. Original reporting remains credited to the following publishers:
This brief was synthesized automatically using attributed third-party reporting. VNews is a digital news publication produced under the VContent Group brand and operated by Francis Vincent Sunday in Ghana, independent from the publishers cited above. Read our AI Transparency Policy and Editorial & Corrections Policy.