June 1, 2026/United Capital Report

Nigerian economy as measured by Gross Domestic Product (GDP) expanded by 3.89% year on year (y/y) in Q1 2026, the highest Q1 growth rate recorded since Q1 2024. The growth was largely driven by the non-oil sector, especially the services sector, alongside a strong rebound in agriculture and moderate industrial expansion.

The impressive growth rate shows that the economic reform of the current administration is achieving the desired goals, laying the foundation for an inclusive and sustainable growth. This is good for business confidence in the Nigerian economy, an indication that policy measures are beginning to consolidate gains at the start of 2026.

Earlier in April 2026, the International Monetary Fund (IMF) released a GDP growth forecast of 4.10% for Nigeria in 2026.

While growth remains firmly positive, maintaining momentum through the rest of 2026, will require continued policy support, reforms, and productivity across growth‑driving sectors. If growth enhancing policies are properly implemented, Nigerian economy has the potential to achieve a growth rate in excess of 5% in the short-term.

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