Key facts
- Nigeria's GDP grew 3.89% year-on-year in Q1 2026.
- The growth rate missed the 4% market expectation.
- Oil production averaged 1.55 million barrels per day in Q1 2026.
- The non-oil sector contributed 96% to the GDP.
- The services sector grew 5.2% year-on-year, contributing 40% to GDP.
Nigeria's economy expanded by 3.89% year-on-year in the first quarter of 2026, a rate slightly below the 4% anticipated by market analysts. The oil sector's output averaged 1.55 million barrels per day during the quarter, a decrease from the 1.58 million barrels per day seen in the fourth quarter of 2025. Despite this, the non-oil sector was the primary driver of economic activity, accounting for 96% of the total GDP. The services sector was particularly strong, growing by 5.2% year-on-year and contributing 40% to the overall GDP, with agriculture and industry also supporting the non-oil sector's performance.