The National Bureau of Statistics (NBS) has once again reiterated that the rebasing of the country’s Gross Domestic Product (GDP) and Consumer Price Index (CPI) figures were necessary to reflect the current structure and dynamics of the Nigerian economy more accurately.
Making the clarification at the 2025 World Statistics Day Celebration in Abuja, the Statistician-General of the bureau, Mr Adeyemi Adeniran, said the rebasing integrated new and emerging sectors, particularly within the digital economy, arts and entertainment, the blue economy, pension administrators and the informal economy, into the national accounts estimates.
“The revised GDP estimates have given us a clearer picture of economic performance, improved comparability with other countries, and provided a stronger foundation for evidence-based planning and investment.
“Let me emphasise here that GDP rebasing is not merely about adjusting numbers for the sake of it. It is about painting a better picture and gaining a clearer understanding of the real size and structure of the economy,” he said.
In her remarks, the Registrar, Chartered Institute of Statistics of Nigeria (CISON), Mrs Ngozi Agboegbulem, stated the need for timely, accurate, reliable, high-quality statistics and accessible data.
“The theme Driving Change with Quality Statistics and Data for Everyone underscores the critical role that data play in solving problems, improving processes, shaping policies, guiding development, driving innovations across businesses and society as well as empowering individuals and communities.
“Quality data drive positive change by fuelling progress in all sectors of the economy. They help measure outcomes, track disparities, and design solutions tailored to real-world needs. Importantly, they also provide a roadmap for monitoring progress towards national goals and international commitments,” she said, noting that quality statistics help identify problems, track progress, and shape effective solutions.
Mrs Agboegbulem emphasised that everyone, including marginalised groups, deserves to be represented in data as good data lead to smarter policies and better lives.