Nigeria, Aug. 6 -- Nigeria's rebased Gross Domestic Product (GDP) shows a 41.7 per cent increase in nominal estimates, but experts say the updated figures do not reflect the lived reality of most Nigerians.

At a session tagged "Insights from the rebased GDP data" hosted on Wednesday by the Nigerian Economic Summit Group (NESG), economists and fiscal experts cautioned that the gains are not inclusive and warned against using the data to justify excessive borrowing or misaligned policy decisions.

The National Bureau of Statistics, on 21 July, disclosed Nigeria's rebased Gross Domestic Product (GDP) stood at N372.82 trillion in 2024, equivalent to $243 billion. Based on a 2019 base year, the new figures show the nominal GDP rose from N205....