Nigeria’s National Bureau of Statistics will release rebased GDP figures in 2025, updating the base year to 2019. This revision aims to reflect current economic conditions more accurately. While new metrics may suggest economic growth, questions remain regarding real benefits for citizens amidst inflation and stagnant wages.
In the first quarter of 2025, Nigeria’s National Bureau of Statistics will reveal the country’s rebased Gross Domestic Product (GDP), the first revision since 2014. This rebasing entails updating the base year from 2010 to 2019, incorporating rapidly evolving sectors like ICT, e-commerce, and the creative industry, providing a more comprehensive view of Nigeria’s economy. Despite the potential for improved metrics, concerns persist regarding the tangible benefits of these revisions for the Nigerian populace.
The forthcoming rebased GDP figures illustrate Nigeria’s economic growth but may not correspond to improvements in the daily lives of its citizens. Policymakers must address underlying issues such as inflation, wage stagnation, and income inequality to ensure the rebasing translates into real benefits. Strategic investments in employment and sector diversification are vital to enhancing the quality of life for ordinary Nigerians beyond mere economic statistics.
Original Source: punchng.com
