GDP

Nigeria’s economy has expanded to ₦372.82 trillion after the National Bureau of Statistics (NBS) updated its GDP base year from 2010 to 2019. This rebasing, which reflects current prices and activities, raised the country’s GDP by over 41%. The Statistician-General,...

Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, says the Federal Government aims to grow the digital economy’s share of Nigeria’s GDP to 21%. Speaking in Abeokuta at a reception by his alma mater, Tijani noted the sector...

A new report by the Mastercard Economics Institute projects Nigeria’s consumer spending to rise by 6% in 2025, despite inflation reaching 22.1%. The country’s GDP is expected to grow by 2.9%, slightly below the global average of 3.2%. The report...

Lagos State’s economy has surged to $259 billion in Gross Domestic Product (GDP) based on purchasing power parity (PPP), making it the second-largest city economy in Africa after Cairo. The milestone was announced during the launch of the Lagos Economic...

Nigeria’s GDP grew by 3.84% in Q4 2024, up from 3.46% in the previous quarter, according to the National Bureau of Statistics (NBS). The Services sector led with 5.37% growth, contributing 57.38% to total GDP. Agriculture grew by 1.76%, while the industry sector slowed to 2.00%. Nigeria’s nominal GDP stood at N78.3...

The Federal Government has revealed that Nigeria incurs an annual loss of over $1.1 billion due to malaria, a major setback to its economic growth and Gross Domestic Product (GDP). Speaking at the inaugural meeting of the Advisory on Malaria...

President Bola Tinubu has reaffirmed his commitment to ensuring that Nigerians directly benefit from the nation's improving economy, following a newly released report by the National Bureau of Statistics (NBS) showing an uptick in Nigeria's Gross Domestic Product (GDP). The...

Nigeria’s Gross Domestic Product (GDP) expanded by 3.46% in real terms during the third quarter (Q3) of 2024, marking a year-on-year increase, according to the National Bureau of Statistics (NBS). This growth reflects a significant improvement from the 2.54%...

President Bola Ahmed Tinubu has expressed delight in the latest report of the National Bureau of Statistics (NBS) which suggests the Nigerian economy posted increased Gross National Product (GDP) growth in the second quarter of the year. According to NBS,...