Earlier this year, Nigeria quietly carried out one of the most important economic exercises in over a decade: the rebasing of its Gross Domestic Product (GDP). On the surface, it may appear to be a technical statistical update, the kind that excites economists but leaves most people unmoved. In reality, GDP rebasing is far more consequential. It is a recalibration of how Nigeria sees itself economically and how the rest of the world understands the country’s true productive capacity. The last time Nigeria undertook this exercise was in 2014, us
Earlier this year, Nigeria quietly carried out one of the most important economic exercises in over a decade: the rebasing of its Gross Domestic Product (GDP). On the surface, it may appear to be a technical statistical update, the kind that excites economists but leaves most people unmoved. In reality, GDP rebasing is far more consequential. It is a recalibration of how Nigeria sees itself economically and how the rest of the world understands the country’s true productive capacity. The last time Nigeria undertook this exercise was in 2014, us
