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Nigeria Rebases GDP Amid Inflation Concerns by 2025

1/21/2025

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Summary

Story summary

Nigeria's National Bureau of Statistics is set to rebase its GDP and Consumer Price Index by January 2025, shifting the base year to 2024. This update seeks to capture the evolving economic landscape, especially in booming sectors like ICT. However, worries linger about possible data manipulation to mask the harsh realities of soaring inflation.

History

Historical Context

Nigeria's GDP rebase in 2025 echoes past economic adjustments, like the 1980s reforms aimed at addressing inflation and economic stagnation. Historical data manipulation concerns resurface, reminiscent of the 1970s when governments altered statistics to mask economic distress. These patterns highlight ongoing challenges in accurately reflecting economic realities.

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Story summary

Nigeria's National Bureau of Statistics is set to rebase its GDP and Consumer Price Index by January 2025, shifting the base year to 2024. This update seeks to capture the evolving economic landscape, especially in booming sectors like ICT. However, worries linger about possible data manipulation to mask the harsh realities of soaring inflation.

1 / 2