The National Bureau of Statistics (NBS) has reported that Nigeria’s economy recorded a growth rate of 3.89 percent year-on-year in real terms in the first quarter (Q1) of 2026, indicating a slowdown compared to the previous quarter.
The figure, contained in the bureau’s latest GDP report released on Monday, shows a decline from the 4.07 percent recorded in the fourth quarter of 2025, but an improvement over the 3.13 percent posted in the same period of 2025.
According to the report, the agriculture sector grew by 3.15 percent, rising significantly from the 0.07 percent recorded in Q1 2025, while the industrial sector posted a growth of 3.50 percent compared to 3.42 percent in the corresponding period of last year.
The services sector grew by 4.31 percent, slightly lower than the 4.33 percent recorded in Q1 2025, but remained the largest contributor to overall economic performance.
The NBS stated that the services sector accounted for 57.73 percent of total GDP in the review period, higher than its 57.5 percent share in Q1 2025.
In nominal terms, aggregate GDP stood at N110.78 trillion, representing a year-on-year growth of 17.79 percent compared to N94 trillion recorded in the corresponding quarter of 2025.
The report also showed that real GDP stood at N51.26 trillion in Q1 2026.
On oil production, the bureau said Nigeria recorded an average daily output of 1.55 million barrels per day during the period under review, lower than the 1.62 million barrels per day recorded in the previous quarter.
The oil sector contributed 3.92 percent to total real GDP, slightly lower than the 3.97 percent recorded in Q1 2025 but higher than the 2.87 percent posted in Q4 2025.
The non-oil sector remained dominant, contributing 96.08 percent to total GDP in the quarter, driven largely by information and communication, agriculture, trade, manufacturing, financial services, real estate, construction and transportation.
The NBS added that the non-oil sector grew by 3.94 percent in real terms, reflecting steady performance despite economic pressures.
