On the Q2 2026 numbers, By Uddin Ifeanyi
43 per cent by which the economy grew on an annualised basis in the second quarter of this year is far from the kind of high-productivity growth trajectory that the country needs.
In the last twenty years, the economy has skittered between the low (about 2—3 per cent average annual growth rates) of the last decade, in which growth was too tepid to raise living standards, even as population growth pressures prevailed, and periods before that, when high oil prices and investment booms produced bursts of 6—7 per cent average annual growth rates.
Against The Renewed Hope Development Plan’s (2026—2030) goals of diversification, productivity, human capital, and private sector-led growth, therefore, the most encouraging part of the second quarter 2026 growth numbers is the extent to which the economy has moved beyond crude oil-led growth.
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