Nigeria GDP Growth Moderates to 3.9% in Q1

2026-05-25 14:19 By Luisa Carvalho 1 min. read

Nigeria's economy expanded by 3.89% year-on-year in Q1 2026, moderating from a 4.07% advance in the previous three-month period.

Growth slowed sharply in the all-important oil sector (2.57% vs 6.79% in Q4).

The average daily crude oil production reached 1.55 million barrels per day in Q4, lower than 1.62 million bpd in the same period last year and 1.58 million bpd in Q4 2025, attributed to several factors including aged facilities and oil theft.

The non-oil sector rose 3.94%, slightly easing from 3.99% in Q4 but maintaining a robust pace, supported by services (4.31%), industry (3.50%) and agriculture (3.15%).

Within services, the strongest gains were recorded in information & communication (10.98%), financial & insurance (8.54%), transportation & storage (7.41%), real estate (2.29%) and trade (2.08%).

Manufacturing (3.29%) also contributed positively, with oil refining surging 37.46% and cement production jumping 11.53%.



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Nigeria GDP Growth Moderates to 3.9% in Q1
Nigeria's economy expanded by 3.89% year-on-year in Q1 2026, moderating from a 4.07% advance in the previous three-month period. Growth slowed sharply in the all-important oil sector (2.57% vs 6.79% in Q4). The average daily crude oil production reached 1.55 million barrels per day in Q4, lower than 1.62 million bpd in the same period last year and 1.58 million bpd in Q4 2025, attributed to several factors including aged facilities and oil theft. The non-oil sector rose 3.94%, slightly easing from 3.99% in Q4 but maintaining a robust pace, supported by services (4.31%), industry (3.50%) and agriculture (3.15%). Within services, the strongest gains were recorded in information & communication (10.98%), financial & insurance (8.54%), transportation & storage (7.41%), real estate (2.29%) and trade (2.08%). Manufacturing (3.29%) also contributed positively, with oil refining surging 37.46% and cement production jumping 11.53%.
2026-05-25
Nigeria GDP Grows Slightly Faster in Q4
The economy of Nigeria grew by 4.07% year-on-year in Q4 2025, up slightly from a 3.98% expansion in the prior period. The all-important oil sector advanced by 6.79%, accelerating from 5.84% in Q3, amid higher oil production compared to the previous year. The average daily crude oil production reached 1.58 million barrels per day in Q4, up from 1.54 million bpd in the same period last year, but down from 1.64 million bpd in Q3. Meanwhile, the non-oil sector rose by 3.99%, up from 3.91% in Q3, mainly boosted by agriculture (4%), information and communication (7.55%); real estate (3.43%); finance and Insurance (8.30); trade (2%); construction (5.08%); and manufacturing (1.13%). Considering the whole year of 2025, Nigeria's economic growth reached 3.9%, above the 3.4% achieved the previous year.
2026-02-27
Nigeria GDP Growth Slows in Q3 but Remains Solid
The economy of Nigeria grew by 3.98% year-on-year in Q3 2025, slowing from a 4.23% expansion in the prior period, which was the strongest since Q2 2021. The non-oil sector, which contributed 96.6% to the GDP, rose by 3.91% in Q3, up from 3.64% in Q2, mainly boosted by agriculture (3.79% vs 2.82% in Q2); information and communication (5.78% vs 6.61%); real estate (3.50% vs 3.79%); financial and Insurance (19.63% vs 16.13%); trade (1.98% vs 1.29%); construction (5.57% vs 5.27%); and manufacturing (1.25% vs 1.60%). Meanwhile, the oil sector expanded by 5.84%, decelerating sharply from 20.46% in the previous period. The average daily crude oil production reached 1.64 million barrels per day in Q3, below 1.68 million bpd in Q2 but higher than 1.47 million bpd in Q3 2024.
2025-12-01