FG Says Nigeria Is on Course for a $1 Trillion Economy by 2030

The Federal Government says Nigeria’s economy is moving closer to its $1 trillion target for 2030 after GDP grew by 4.43% year-on-year in the second quarter of 2026. The growth rate was higher than the 4.23% recorded in Q2 2025 and 3.89% in the first quarter of 2026. Real GDP growth for the first half of 2026 reached 4.16%, compared with 3.68% in the same period last year. Manufacturing grew by 3.24%, agriculture expanded by 4.39%, and services rose by 4.60%. The Finance Ministry said a stronger naira also increased the economy’s value in dollar terms, while sustained reforms and policy consistency would be needed for growth to improve household incomes and reduce poverty. The ministry added that the IMF expects Nigeria to be among the top 10 contributors to global real GDP growth in 2026.

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