Nigerians have questioned the impact of Nigeria’s economic growth after the country’s Gross Domestic Product, GDP, grew by 4.43 percent in real terms in the second quarter of 2026, according to the National Bureau of Statistics, NBS.
The NBS, in its GDP report released on Monday, said Africa’s most populous economy grew from the 3.89 percent recorded in Q1 2026.
The latest figure represents a 0.20 percentage-point increase from the 4.23 percent recorded in the second quarter of 2025.
According to the NBS, the country’s nominal GDP stood at N119.29 trillion, while real GDP stood at N53.47 trillion in Q2 2026.
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NBS data showed that the services sector, with 56.62 percent, and the agriculture sector, with 26.15 percent, led the economy, while the industrial sector, at 3.96 percent, slowed during the period under review.
Reacting, President Bola Ahmed Tinubu, in a statement by his presidential spokesperson, Bayo Onanuga, said Nigeria’s GDP growth was encouraging and assured Nigerians of stronger economic performance.
However, Nigerians took to X to question the economic impact of the country’s GDP growth.
A Nigerian simply known as Lawrence on X said: “The interesting question is whether the improvement in the macro numbers is translating into better margins for small businesses.”
“Nigeria’s Q2 GDP growth was 4.43%, up from 3.89% in Q1. But I’d want to see what happens to operating costs and consumer purchasing power first,” he wrote.
Similarly, another X user, known as Nwachukwu, said: “Churning out statistics that have zero effect on society and the social security of the nation.”
“Just wondering what is the essence of your so-called statistical improvements,” he stated.
The latest NBS data comes as a majority of Nigerians continue to lament the rising cost of living despite headline inflation standing at 15.43 percent in July.
The recent rise in the price of petrol to between N1,310 and N1,345 per litre has further increased economic hardship for Nigerians.
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