PRESS RELEASE
FEDERAL MINISTRY OF FINANCE
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Abuja, September 1, 2026 β Nigeria's economy continues to demonstrate resilience and accelerating growth with the second quarter of 2026 real Gross Domestic Product (GDP) expanding by 4.43 per cent year-on-year, up from 4.23 per cent in Q2 2025 and 3.89 per cent in Q1 2026.
The strong Q2 2026 outturn lifted real GDP growth for the first half of 2026 to 4.16 per cent, up from 3.68 per cent in the corresponding period of 2025, a clear signal of sustained strengthening across the economy.
Growth is also becoming more broad-based. In Q2 2026, 27 economic subsectors recorded real growth above 3.0 per cent, up from 23 subsectors in Q2 2025, showing that expansion is no longer concentrated in a handful of industries.
The productive sectors led the way. Manufacturing grew by 3.24 per cent, more than double the 1.60 per cent recorded in Q2 2025, reflecting improved industrial output. Agriculture expanded by 4.39 per cent, up from 2.82 per cent, underscoring stronger production and value-chain performance. Services, the largest driver of growth, expanded by 4.60 per cent, up from 3.94 per cent.
The relative stability and steady appreciation of the exchange rate further amplified these gains in dollar terms. The naira appreciated by more than 12 per cent between H1 2025 and H1 2026, resulting in an expansion of the economy by approximately 17 per cent in U.S. dollar terms over the period, a pace that, if sustained along with the various social programmes of the Government, will meaningfully strengthen dollar incomes, improve purchasing power and lift millions of Nigerians out of poverty.
Given this momentum, Nigeria is well positioned to consolidate its standing among Africa's largest economies and to advance toward the Government's target of a USD 1 trillion economy by 2030. The International Monetary Fund has already ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting the country to account for roughly 1.5 per cent of world growth this year, ahead of several advanced and emerging economies.Β
Continued macroeconomic stability, sustained growth across productive sectors, and improving investor confidence would accelerate Nigeria's progression toward becoming Africa's largest economy by 2028.
These results underscore the importance of sustaining our reforms and ensuring policy consistency as their benefits begin to reach households across the country. The Government remains focused on accelerating inclusive growth and translating these macroeconomic gains into shared prosperity for every Nigerian family.
#NigeriaRising
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Abuja, Nigeria
You fix the foundation before you furnish the room.
Macro stability and 4.43% growth shows the hard reforms are taking root and the engine is moving in the right directions.
Steady Progress!
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In the next few weeks, we are addressing some of the challenges facing our vulnerable population by providing cheaper means of transport, ramping up food production and implementing relief programmes that will touch lives at the grassroots.
The economy is on an irreversible path towards even stronger growth but growth must be something every Nigerian can feel at the dining table and in their pocket.
That is the next phase of our work, and we are not resting on our oars.
The Renewed Hope Agenda is working.
Bola Ahmed Tinubu, GCFR
President
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We are building roads, railways and superhighways that will last for a long time.
In our universities, for the first time in a long time, there are no strikes. Our children are in class.
Through NELFUND, student loans are putting education within reach, while affordable credit is going to our civil servants through CreditCorp.
Yet, at precisely the point when the evidence shows that our reforms are beginning to work, some in the opposition are promising Nigerians that they will reverse them.
We will not turn back.
We will not return Nigeria to the policies and distortions we inherited and have spent the last three years correcting. I will not dignify the leaders of the opposition who now seek to take Nigeria back to its dark past by mentioning their names. They know themselves.
Our responsibility now is to ensure that these improving numbers translate more quickly into the lives of our people.
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In the past three years, we tried to do the hard part by implementing the necessary reforms to stabilise the economy.
Now the economy is stabilised, and we have laid the foundation for a prosperous nation.
We didnβt do the reforms to create challenges, but to ensure prosperity reaches all our people.
The results are becoming very clear.
Because of those tough decisions, Nigeria today has trade surpluses. Our foreign reserves are at their highest in 17 years. Our credit rating has moved up several notches.
Investors who left are returning. Oil and gas production is increasing.
THE RENEWED HOPE AGENDA IS WORKING
Fellow Nigerians,
Our economy grew by 4.43% in the second quarter of 2026, up from 4.23% in the same period last year.
Growth was recorded across agriculture, manufacturing, oil and gas, and services, which now make the largest contribution to our GDP.
In nominal terms, our GDP reached β¦119.27 trillion, up 18.43% from β¦100.7 trillion in the same period last year.
These numbers matter because they show where our economy is going after three years of difficult but necessary reforms.
4.43% in Q2 2026.
This is the print I said would follow the reforms. We deal with the pains first, stabilisation next then full growth afterwards.
Agriculture 4.39%. Services 4.60%. Non-oil is doing the work many swore would never show up in the numbers.
GDP is moving. The unfinished job is getting this growth to the businesses that actually employ Nigerians.
Nigeria Forward π³π¬ π
I am delighted to receive the news that the fifteen members of the National Youth Service Corps and six other innocent and law-abiding Nigerians abducted last week in Kogi State by some criminal elements have regained their freedom.
The well-coordinated Search and Rescue (SAR) operation carried out by a combined team of personnel of the military, the Nigerian Police Force, the Department of State Services, and local vigilantes safely rescued all twenty-one abductees, made up of eight males and thirteen females, from the den of kidnappers in the forests of Ofu Local Government Area of Kogi State this afternoon. The corps members and other rescued individuals are currently receiving medical attention before they are reunited with their families.
While the abductees have been safely rescued, our gallant security forces are still on the trail of the routed kidnappers, in line with my directive to sustain the pressure on all criminal elements. Those responsible will face the full weight of the law, and our security agencies will pursue everyone who aided this crime. My administration remains committed to ensuring that every Nigerian can travel across our country without fear.
I wholeheartedly commend the combined SAR team for their courage and appreciate families and loved ones of the abductees for their understanding during the ordeals of their loved ones.
As I share in the relief and joy of the parents and loved ones of the rescued individuals, I want to once again, assure parents and loved ones of our dedicated corps members that my Administration remains committed to ensuring the safety of their lives and property, as well as those of other Nigerians.
God bless the men and women of our Security and Intelligence agencies.
God bless the Federal Republic of Nigeria.
Bola Ahmed Tinubu, GCFR
President and Commander-in-Chief of the Armed Forces
Federal Republic of Nigeria
We are on the road to 5% . I believe from 2027 we will hit 5% by 2nd quarter after President Tinubu is sworn in.
I know some investors who are pausing action because they DO NOT WANT REVERSAL OF REFORMS....so once Tinubu wims the Financial markets will go crazy and investments will increase.
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βConstitutionally, Atiku shouldnβt be contesting election in Nigeria, having broken the civil service rule by affirming that he was a car seller (Tokunbo via Fayawo) while working as a staff of Nigerian Customsβ¦β