Nigeria's gross domestic product (GDP) grew by 3.8% year-on-year in the first quarter of 2026, marking the fastest economic expansion recorded in over a decade.
According to data published by the National Bureau of Statistics (NBS), the non-oil sector contributed 94.2% to total GDP, propelled by double-digit growth in ICT, telecommunications, financial institutions, and agricultural processing.
Reforms in the agro-allied supply chain—specifically dry-season irrigation incentives in Benue, Taraba, and Kaduna—yielded bumper harvests in grain and cassava, curbing food inflation for the third consecutive month.
The World Bank upgraded its full-year growth outlook for Nigeria to 4.1%, praising continued fiscal reforms, unified currency market transparency, and domestic refining expansion.