Statistician-General of the Federation, Adeyemi Adeniran, (1).webp
The Digest:

Nigeria's Gross Domestic Product (GDP) has been rebased from N80 trillion to N205 trillion, marking a significant 41.7% increase from the last rebasing in 2014. This economic shift explores deeper issues of national development and data accuracy, engaging public discourse on Nigeria's economic trajectory and the impact of sectoral contributions.

Key Points:
  • Nigeria's GDP rebased from N80 trillion to N205 trillion.
  • The Statistician-General of the Federation, Adeyemi Adeniran, announced the development.
  • This represents a 41.7% increase compared to the 2014 rebasing exercise.
  • The new rebasing covers 2019 to 2023, with 2019 as the new base year.
  • Top five contributing sectors are crop production, trade, real estate, telecommunications, and oil and gas.
This substantial rebasing offers a fresh perspective on Nigeria's economic landscape, highlighting growth areas and setting a new benchmark for national planning. The updated figures reveal how deeply rooted economic structures navigate storms not just of market fluctuations, but of statistical re-evaluation.

Sources: Daily Post