NIGERIA’S Gross Domestic Product (GDP) recorded a 3.13% growth in the first quarter of 2025, following a recent rebasing of the economy.
This adjustment shifted the base year used for GDP calculations from 2010 to 2019.
With the new base year, the nation’s GDP at current market prices for 2024 was revised to ₦372.8 trillion.
Economic rebasing is a routine statistical process that updates the base year to reflect more current economic realities and structural changes in production, consumption, and investment patterns.
The updated data is expected to provide a clearer picture of Nigeria’s economic performance and improve accuracy in policy formulation, planning, and investment decisions.