The National Bureau of Statistics (NBS) has announced that Nigeria’s real Gross Domestic Product (GDP) growth slowed to 3.89% year-on-year in Q1 2026.
The NBS report said the growth slowed down from 4.07% in Q4 2025.
It however stated that the Q1 figure was still higher than the 3.13% recorded in Q1 2025, saying that the services sector contributed the largest share of GDP at 57.73%.
The NBS also reported that oil sector growth fell sharply to 2.57% in Q1 2026, a 4.22 percentage point drop from 6.79% in Q4 2025.
It attributed the decline to lower crude production, which averaged 1.55 million barrels per day.
According to the NBS; “That was 0.06 mbpd below Q1 2025 and 0.03 mbpd below Q4 2025”.
