Nigeria Economy May Be Top in Africa After Rebased Gdp Figures Out Friday

The Nigeria National Bureau of Statistics (NBS) is set to release 2025 rebased Gross Domestic Product (GDP) figures on Friday, replacing the previous 2010 benchmark used in the 2014 rebasing exercise.

According to the NBS, the rebasing will allow the inclusion of new industries, updated methodologies, and fresh data sources that better reflect Nigeria’s modern economy.

This may push Nigeria’s economy to once again become the largest in Africa.

Recall that the last GDP rebasing, conducted in 2014 pushed Nigeria’s economy to be the largest on the continent, beating South Africa to the spot.

Nigeria’s GDP rose to N80.2 trillion, approximately $510 billion at the time, making Nigeria Africa’s largest economy.

That rebasing saw Nigeria leapfrog South Africa, which had a GDP of $370.3 billion, and placed it as the world’s 26th largest economy. GDP per capita nearly doubled, rising from $1,437 to $2,688.

Tthe Statistician-General of the Federation, Prince Adeyemi Adeniran, has highlighted efforts by the NBS to sensitize key stakeholders ahead of the release.

According to him, the Bureau had conducted a series of technical workshops and engagement sessions with data users, development partners, economic experts  and policy stakeholders to deepen understanding of the rebasing process and its implications.

The new base year for the new GDP is expected to be 2019 or 2024. There will be 8 new areas captured in the new GDP series, the NBS said in a presentation monitored by MoneyCentral.

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