Nigeria, July 22 -- Nigeria's real estate sector has overtaken crude oil and natural gas as the third largest contributor to the country's Gross Domestic Product (GDP), following the rebasing of GDP to 2019 base year by the Nigeria Bureau of Statistics, (NBS).
According to the GDP report published by the NBS on Monday, the contribution of real estate to the economy rose from N22 trillion (6.24 per cent) under the previous estimates to N41.2 trillion (10.78 per cent) in the 2024 rebased data, which placed the sector just behind crop production and trade.
The rebasing exercise, which updates a country's data to mirror its current conditions and changing circumstances, revealed that crop production and trade remain the top two contributors...
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