Nigerian economy grows 3.89 percent in first quarter
Nigeria's economy grew 3.89% in the first quarter of 2026, down from 4.07% in late 2025. Growth slowed in both the oil and non-oil sectors during the period.
Nigeria reported Q1 2026 GDP growth of 3.89%, a slight deceleration from the 4.07% expansion recorded in the final quarter of 2025. The National Bureau of Statistics released the data midday Monday. This slowdown highlights the gap between current output and the 7% annual growth target set by the administration for 2027.
### Oil Production Drags on National Output Average daily oil production fell to 1.55 million barrels per day during the first three months of the year. This figure is down from 1.58 million barrels per day in the fourth quarter of 2025. The drop in extraction directly impacted the performance of Brent Crude Oil exports, which remain a primary source of foreign exchange.
