- The National Bureau of Statistics (NBS) will include illegal and hidden activities like prostitution and drugs peddling in the calculation of Nigeria’s Gross Domestic Product (GDP).
- The NBS proposes 2019 as the new GDP base year and 2024 as the base year for inflation computation.
- The rebased GDP aims to capture new economic segments.
The National Bureau of Statistics (NBS) has announced that it will include illegal and hidden activities in the calculation of Nigeria’s Gross Domestic Product (GDP).
Objectives of the Rebasing Exercise
The rebasing exercise aims to provide a more accurate representation of the country’s economic activities.
New Economic Segments
The rebased GDP will capture new economic segments, including the digital economy, activities of pension fund administrators, and illegal and hidden activities.
The NBS proposes 2019 as the new GDP base year and 2024 as the base year for inflation computation.
