Nigeria’s GDP has been rebased to ₦205 trillion, reflecting updated economic data and structure, says Statistician-General Adeyemi Adeniran.
Nigeria’s Gross Domestic Product (GDP) has been rebased from ₦80 trillion to ₦205 trillion, according to the Statistician-General of the Federation, Adeyemi Adeniran.
He announced that the new figure reflects a 41.7% increase compared to the last rebasing conducted in 2014. The current rebasing covers the period from 2019 to 2023, with 2019 adopted as the new base year.
Adeniran identified the top five sectors driving GDP as crop production, trade, real estate, telecommunications, and oil and gas, noting their significant contribution to the country’s economic output.