Nigeria is preparing to release its rebased Gross Domestic Product figures in 2025 for the first time in more than a decade, which analysts say could catalyse investment and improve its attractiveness to investors, development partners, and global financial markets.
The National Bureau of Statistics announced the plan in October 2024 and initially targeted the end of January 2025 for the release.
However, reports in early February 2025 indicated that the agency had not yet published the rebased figures, suggesting a slight delay.
Nigeria’s last GDP rebasing in 2014 saw the economy leap from about $270bn to $510bn, making it the largest economy in Africa at the time. That update revealed underreported sectors like telecommunications, film, and financial services, sparking global investor interest and driving foreign direct investment to nearly $60bn that year, up from $15bn in 2011.
The statistics agency revealed that incorporating new and emerging sectors, updating consumption baskets, and refining data collection methods are essential to producing a more complete picture of national output.