Agricultural industry sees 3.15% expansion, contributing 11.87 trillion to national economy

The agricultural sector demonstrated a notable 3.15 per cent year-on-year growth in real Gross Domestic Product (GDP), reaching a total of N11.87 trillion in the first quarter of 2026, up from N11.51 trillion in the same period of 2025, according to the National Bureau of Statistics (NBS) GDP report for Q1’26.

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This growth was primarily driven by crop production, which accounted for N8.9 trillion in Q1’26, marking a 3.39 per cent increase from N8.6 trillion in Q1’25, solidifying its position as the dominant force within the agric sector.

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The Livestock sub-sector also experienced growth, rising to N1.57 trillion in Q1’26, representing a 2.20 per cent increase from N1.54 trillion in Q1’25, as reported by the NBS.

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Forestry saw a significant 4.14 per cent growth, with its value increasing to N589.88 billion in Q1’26 from N566.42 billion in Q1’25, further contributing to the sector's overall growth.

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The Fishing sub-sector recorded a 1.72 per cent year-on-year growth, reaching N792.92 billion in Q1’26, up from N779.49 billion in Q1’25, as outlined in the NBS report.

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The National Bureau of Statistics noted that the Agricultural sector comprises four sub-activities: Crop Production, Livestock, Forestry, and Fishing, with the sector growing by 9.93 per cent year-on-year in nominal terms in Q1 2026.

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This growth rate represents a decrease of 0.11 per cent points from the same quarter of 2025, and an increase of 3.11 per cent points from the preceding quarter's growth rate of 6.82 per cent.

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Crop production remained the major driver of the sector, accounting for 66.76 per cent of the overall nominal value of the sector in the first quarter of 2026, as stated in the NBS report.

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The sector's quarter-on-quarter growth stood at -36.37 per cent in the first quarter of 2026, with agriculture contributing 18.11 per cent to nominal GDP in the same period.

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This contribution figure was lower than the rates recorded in the first quarter of 2025 and the fourth quarter of 2025, which stood at 19.40 per cent and 25.67 per cent, respectively.

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The agricultural sector grew by 3.15 per cent year-on-year in real terms in the first quarter of 2026, marking an increase of 3.08 per cent points from the corresponding period of 2025.

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The sector's growth rate decreased by 0.85 per cent points from the preceding quarter, which recorded a growth rate of 4.00 per cent, and it grew on a quarter-on-quarter basis at -35.24 per cent.

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The sector contributed 23.16 per cent to aggregate GDP in real terms in Q1 2026, a figure lower than the contributions in the first quarter of 2025 and the fourth quarter of 2025, which stood at 23.33 per cent and 28.66 per cent, respectively.