Nigeria’s rebased Gross Domestic Product (GDP) as of 2019 now stands at an impressive ₦205 trillion, reflecting a significant boost in the country’s economic valuation. This was revealed by the Statistician-General of the Federation, Adeyemi Adeniran, during a recent announcement. The rebased figure represents a 41.7% increase compared to the last GDP rebasing conducted in 2014.
According to Adeniran, the top-performing sectors driving the economy include crop production, trade, real estate, telecommunications, and the oil and gas industry. These sectors continue to play a central role in Nigeria’s economic growth and resilience, particularly in the face of global and local economic challenges.
The current rebasing exercise covers economic data from 2019 to 2023, with 2019 now adopted as the new base year for calculating the nation’s GDP. The update provides a more accurate picture of Nigeria’s economic structure, offering policymakers and investors clear insights for strategic planning and sustainable development.
