The Federal Government says Nigeria remains on track to achieve its $1 trillion economy target by 2030, following a 4.43 per cent real GDP growth recorded in the second quarter of 2026.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the Q2 growth surpassed the 4.23 per cent recorded in the same period of 2025 and the 3.89 per cent achieved in Q1 2026.
According to Oyedele, the latest figures raised real GDP growth in the first half of 2026 to 4.16 per cent, compared with 3.68 per cent during the corresponding period of 2025.
He said the growth was becoming more broad-based, with 27 economic subsectors recording growth above three per cent in Q2, compared with 23 sectors a year earlier.
Manufacturing grew by 3.24 per cent, up from 1.6 per cent, while agriculture rose to 4.39 per cent from 2.82 per cent. The services sector, the largest contributor to growth, expanded by 4.6 per cent from 3.94 per cent.
Oyedele attributed the rise in the economy’s dollar value partly to the relative stability and appreciation of the naira, which gained more than 12 per cent between the first halves of 2025 and 2026. He said this contributed to an estimated 17 per cent expansion in the economy in dollar terms.
The minister said sustained growth, alongside social programmes, could boost incomes, improve purchasing power and reduce poverty.
He added that the growth momentum could strengthen Nigeria’s position among Africa’s largest economies and support progress towards the $1 trillion target by 2030.
Oyedele also said the International Monetary Fund had ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting that the country would account for about 1.5 per cent of global growth.
