NECA: Nigeria’s 4.43% GDP Growth Signals Recovery but Businesses Still Under Pressure
The Nigeria Employers’ Consultative Association says the 4.43% GDP growth recorded in the second quarter of 2026 is encouraging but does not yet amount to a full economic recovery. NECA said growth has strengthened for a second consecutive quarter, marking the strongest quarterly performance since the third quarter of 2024. However, it warned that the gains may not reflect the realities facing businesses and households. The association cited slow industrial growth, high energy and production costs, poor infrastructure, limited access to affordable credit and weak consumer purchasing power. It urged policymakers to focus on manufacturing, agro-processing, investment and other productive sectors. NECA said the real measure of recovery should be decent jobs, stronger businesses, improved household incomes and better productive capacity.
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