Get Guardian on GoogleNigeria’s economy recorded a slower growth rate of 3.89 per cent year-on-year in real terms in the first quarter of 2026, according to the latest Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS) on Monday.
The figure represents a decline from the 4.07 per cent growth recorded in the fourth quarter of 2025 but remains higher than the 3.13 per cent posted in the first quarter of 2025.
According to the bureau, the agricultural sector showed significant improvement during the period under review.
“During the quarter under review, agriculture grew by 3.15%, an improvement from the 0.07% recorded in the corresponding quarter of 2025.”
The agency also reported moderate growth across other sectors of the economy.
“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,” the report stated.
The services sector retained its position as the largest contributor to the economy, accounting for 57.73 per cent of total GDP in Q1 2026, slightly above the 57.5 per cent contribution recorded in the same period last year.
In nominal terms, aggregate GDP rose to N110.78 trillion during the quarter.
The NBS said the figure was higher than the N94 trillion recorded in the first quarter of 2025, reflecting a year-on-year nominal growth of 17.79 per cent.
The report further showed that Nigeria’s real GDP stood at N51.26 trillion in the first quarter of 2026.
