Nigeria's GDP Growth Accelerates but Energy Crisis and Fuel Price Surge Threaten Gains

Nigeria's economy expanded by 4.43% year-on-year in Q2 2026, up from 4.23% a year earlier, according to the National Bureau of Statistics. The growth was driven by a resurgence in agriculture (4.39%) and a strong services sector (4.60%), while average daily crude oil production climbed to 1.72 million barrels per day, boosting the oil sector's contribution to GDP.

This is the kind of headline that makes investors smile. The non-oil economy is proving its...