FG: Nigeria’s Growth Trajectory Puts Country on Track for a $1 Trillion Economy

Nigeria’s federal government says the country’s economy is moving toward its target of becoming a $1 trillion economy by 2030 after second-quarter growth accelerated to 4.43%.

The Finance Ministry issued the statement after the National Bureau of Statistics released the latest figures. Real GDP growth rose from 3.89% in the first quarter of 2026 and from 4.23% in the second quarter of 2025. First-half growth reached 4.16%, compared with 3.68% during the same period last year.

The ministry said the expansion was becoming broader. Twenty-seven economic subsectors recorded real growth above 3% in the second quarter, compared with 23 a year earlier. Manufacturing grew 3.24%, more than twice the 1.60% recorded in the second quarter of 2025. Agriculture expanded 4.39%, up from 2.82%, while services grew 4.60%, compared with 3.94% a year earlier.

“

We must translate macroeconomic stability into prosperity.

President Bola Tinubu said the next phase of his Renewed Hope agenda must turn macroeconomic stability into improvements in everyday life. He listed more food, jobs, lower inflation, affordable credit, reliable electricity, increased manufacturing, higher exports and stronger purchasing power as the desired results.

The ministry also said the naira’s relative stability and appreciation had increased the economy’s gains in dollar terms. The currency appreciated by more than 12% between the first half of 2025 and the first half of 2026. In Osogbo, the Ooni of Ife, Oba Enitan Adeyeye Ogunwusi, said Tinubu’s goal of ending poverty would soon be achieved through federal programmes and policies.

“

Poverty will soon end in Nigeria.