Nigeria's economy has recorded a significant growth of 3.2% in the first quarter of 2026, according to data released by the National Bureau of Statistics (NBS) on Thursday.
The growth was largely driven by improved oil production, with NNPC reporting output of 1.8 million barrels per day, as well as strong performance in the agricultural sector which grew by 5.1%.
The Minister of Finance described the figures as "encouraging" and noted that ongoing economic reforms are beginning to yield results. "We are on the right path," she said during a press briefing in Abuja.
Analysts, however, cautioned that inflation remains a key concern, with year-on-year inflation still hovering above 28%, which continues to erode purchasing power for ordinary Nigerians.
The services sector also performed well, recording growth of 4.6%, buoyed by telecommunications and financial services.
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