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[BUSINESS] · Nigeria, Angola · 30 sources

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Nigeria and Angola report strong Q2 2026 economic growth

Nigeria's economy expanded by 4.43% in the second quarter of 2026, marking its fastest growth in five years. This expansion was driven by a rebound in the oil sector, which grew by 7.31%, and strong performance in the services (4.60%) and agriculture (4.39%) sectors. Average daily crude oil production rose to 1.72 million barrels per day. The International Monetary Fund has projected Nigeria as one of the top 10 global contributors to real GDP growth for 2026.

In Angola, the economy grew by 8.74% during the same period, supported by a 9.24% expansion in the non-oil sector and a 5.64% increase in the petroleum sector.

Despite these macroeconomic gains, reports indicate a disconnect between GDP growth and household welfare in Nigeria, as high inflation and the impact of economic reforms like fuel subsidy removal continue to pressure consumer purchasing power.

Entities

Angola · Bola Ahmed Tinubu · Georgia · Geostat · International Monetary Fund · National Bureau of Statistics · National Statistics Institute · Nigeria · Taiwo Oyedele

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