The National Bureau of Statistics (NBS) is set to publish Nigeria’s newly rebased Gross Domestic Product (GDP) figures before the end of the month, offering a more accurate reflection of the country’s current economic landscape.
This latest rebase will shift the base year from 2010 to 2019, capturing the growth and contributions of emerging sectors that have previously been underrepresented. Industries such as information and communication technology, digital commerce, the creative sector, and segments of the informal economy are expected to feature more prominently in the new data.
According to officials, the rebasing exercise is aimed at aligning economic measurements with present-day realities. It will provide more reliable insights for policy development, investment planning, and economic reform initiatives. The update is also expected to enhance transparency and strengthen Nigeria’s economic planning framework.
This is the first time Nigeria’s GDP is being rebased in over a decade, with the last update conducted in 2014. The forthcoming figures will offer a clearer picture of Nigeria’s economic size and structure in today’s dynamic environment.
