<< Back             Poser >> Nigeria’s GDP growth rises 3.89% in Q1’26 By Elizabeth Adegbesan  Nigeria’s Gross Domestic Product (GDP) rose to 3.89 per cent in the first quarter of this year, Q1’26, representing a 0.76 percentage point increase from the 3.13 per cent recorded in the same period of 2025, Q1’25. However, the GDP growth in Q1’26, represents a 0.18 percentage points decline from the 4.07 per cent recorded in the fourth quarter of 2025, Q4’25. Disclosing these yesterday, the National Bureau of Statistics, NBS, stated: “Gross Domestic Product (GDP) grew by 3.89% (year-on-year) in real terms in the first quarter of 2026, higher than the 3.13% recorded in the first quarter of 2025. During the quarter under review, agriculture grew by 3.15%, an improvement from the 0.07% recorded in the corresponding quarter of 2025.  “The growth of the industry sector stood at 3.50% from 3.42% recorded in the first quarter of 2025, while the services sector recorded a growth of 4.31% from 4.33% in the same quarter of 2025. “In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the first quarter of 2026 at 57.73% compared to the corresponding quarter of 2025 at 57.50%.  “Gross Domestic Product (GDP) grew by 3.89 percent (year-on-year) in real terms in the first quarter of 2026, higher than the 3.13 percent recorded in the first quarter of 2025.” NBS noted that during the quarter under review, the services sector contributed more to the aggregate GDP at 57.73 percent. “The real growth of the oil sector was 2.57 (year-on-year) in Q1 2026, indicating an increase of 0.70% points relative to the rate recorded in the corresponding quarter of 2025 (1.87%). Growth decreased by 4.22% points when compared to Q4 2025, which was 6.79%. On a quarter-on-quarter basis, the oil sector recorded a growth rate of 9.31% in Q1 2026.  “The Oil sector contributed 3.92% to the total real GDP in Q1 2026, down from the figure recorded in the corresponding period of 2025 at 3.97%. and up from the preceding quarter, where it contributed 2.87%.  “The non-oil sector grew by 3.94% in real terms during the reference quarter (Q1 2026). This rate was higher by 0.75% points compared to the rate recorded in the same quarter of 2025, which was 3.19%, and lower than the 3.99% recorded in the fourth quarter of 2025.  “In real terms, the non-oil sector contributed 96.08% to the nation’s GDP in the first quarter of 2026, higher than the share recorded in the first quarter of 2025, which was 96.03%, and lower than the fourth quarter of 2025, recorded as 97.13%.” Vanguard Business News	ELECTRICITY: NDPHC restores 450MW Alaoji plant By Obas Esiesesa The Managing Director and Chief Executive Officer of the Niger Delta Power Holding Company, Engr. Jennifer Adighije has  disclosed that operations at the 450 megawatts Alaoji Open Cycle Power Plant in Abia State has been restored after it was shut down in 2023 over gas supply and metering disputes. Adighije disclosed this during […] Court grants CBN sole ownership of eNaira platform The Federal High Court sitting in Abuja, on Friday, granted the Central Bank of Nigeria (CBN) sole ownership rights to the eNaira digital currency platform. Over 41% of electricity consumers still without meters –NERC By Obas Esiedesa About 5.1 million consumers, representing about 41 per cent of Nigeria’s 12.31 million active electricity customers were without prepaid meters as of February 2026, according to data released by the Nigerian Electricity Regulatory Commission (NERC). The Commission, in its January and February 2026 metering factsheet, disclosed that only 7.21 million customers had been metered […] Nigeria’s GDP growth rises 3.89% in Q1’26 By Elizabeth Adegbesan  Nigeria’s Gross Domestic Product (GDP) rose to 3.89 per cent in the first quarter of this year, Q1’26, representing a 0.76 percentage point increase from the 3.13 per cent recorded in the same period of 2025, Q1’25. However, the GDP growth in Q1’26, represents a 0.18 percentage points decline from the 4.07 per […] Manufacturers cry out over taxes, FX costs, insecurity, poor power supply By Victor Ahiuma-Young Manufacturers under the aegis of the Association of Food, Beverage and Tobacco Employers, AFBTE, have indicated that its operating environment in Nigeria is worsening. It cited excessive taxes and levies, high interest rate, insecurity, poor infrastructure and unstable power supply as major threats to business survival. The employers warned that despite recent macroeconomic […] Seme Customs grows revenue by 448% in 2mths  •Says smugglers behind fuel scarcity By Providence Ayanfeoluwa & Efe Onodjae The Nigeria Customs Service, NCS, Seme Area Command, generated N9.79 billion between March 18 and May 2026, representing a 448 per cent increase compared to the N2.19 billion recorded in the corresponding period of 2025. Speaking during his first media briefing at the command, the […]