The current rebased GDP estimates, according to development and financial experts, are far from reflecting the economic reality that Nigerians face.
Nigeria’s GDP increased from N314.02 trillion in 2023 to N372.8 trillion in 2024 after the National Bureau of Statistics (NBS) rebased GDP to account for the informal sector, according to Daily Trust.
The rebased GDP in nominal terms was N205.09 trillion in 2019, N213.63 trillion in 2020, N243.30 trillion in 2021, N274.23 trillion in 2022, N314.02 trillion in 2023, and N372.82 trillion in 2024. The statistics agency changed its base year from 2010 to 2019.
About The Author
