The National Orientation Agency (NOA) and the National Bureau of Statistics (NBS) have launched a joint initiative to rebase Nigeria’s Gross Domestic Product (GDP). The announcement, shared via the official X handle of the NOA, marks a major step towards redefining the country’s economic metrics to reflect current realities and emerging sectors.
The rebasing exercise is aimed at modernizing Nigeria’s economic measurement framework by integrating newly recognized industries and market activities into the national accounting system. As the structure of Nigeria’s economy evolves—shaped by technological innovation, globalization, and shifting consumer behavior—the need for a more accurate and inclusive economic narrative has become critical. This collaborative effort between NOA and NBS is designed to update GDP calculations to mirror these changes, offering a more realistic portrayal of the country’s economic strength and diversification.
At the heart of this initiative is a powerful campaign for public awareness and understanding. The agencies are committed to demystifying the rebasing process, explaining not just how the GDP will be recalculated but why this change is crucial for future economic planning.
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By involving Nigerians in the conversation, the NOA and NBS hope to dismantle widespread misconceptions and build a collective grasp of how GDP rebasing influences everything from foreign investments to government budgets and economic development strategies.
This strategic collaboration signals a shift toward data-driven governance and inclusive economic planning. It underscores the importance of equipping citizens with the knowledge they need to critically engage with national policies. The NOA and NBS believe that when people understand the economic tools shaping their future, they are more likely to support reforms and actively contribute to national progress.
As the rebasing begins, Nigeria takes a step toward economic clarity, transparency, and accountability. With the voices of its citizens invited into the process, the nation is not just recalculating figures—it’s redefining its path to sustainable development.
