Nigeria to rebase GDP and inflation data by month-end, stats office says

ABUJA (Reuters) – Nigeria plans to rebase its gross domestic product (GDP) and inflation data by the end of the month to capture changes in certain sectors of the economy and reflect current growth and consumption patterns, its statistics office said on Monday.

The National Bureau of Statistics said some sectors of the Nigerian economy have experienced significant growth since the last rebasing in 2014. These sectors now require proper representation in the GDP compilation.

It added that marine and blue economy, arts, culture, and tourism, information and communication technology and e-commerce activities were among those sectors.

The previous rebasing in 2014 positioned Nigeria as Africa’s largest economy.