(Source: Kaleidofin Private Limited)
June 30, 2026/Coronation Report
Summary
Nigeria’s economy expanded 3.89% in real terms year-on-year in Q1 2026, up from 3.13% in Q1 2025. Within that headline figure, the agricultural sector posted real GDP growth of 3.15% y/y — a 308-basis-point recovery from the near-stagnant 0.07% recorded in Q1 2025. This represents the strongest agricultural rebound since 2022.
The recovery was driven by a partial recovery from some of the key challenges that had suppressed agricultural output since 2022: the severe flooding that occurred in many agricultural areas in 2022 and 2024, the removal of fuel subsidy, the depreciation of the Naira, and a deeply entrenched productivity deficit compounded by insecurity across key farming belts.None of these challenges has been fully resolved; rather, their intensity has moderated sufficiently to create room for a gradual recovery in output
Download the full report here