Nigeria, Feb. 27 -- In the last few days, especially after the National Bureau of Statistics (NBS) released its figures on the rebased CPI, which indicated a reduction in inflation figures from 32.5 per cent in December 2024 to 24.5 per cent in 25 January, experts have reasonably predicted a considerable difference in the rebased GDP figures when it is released. The last rebasing was done in 2014, using 2010 as the base year of 2010. Between 2010 and 2019, a period of about nine years, the structure of the Nigerian economy must have changed in a significant way, quite understandably.

Generally speaking, GDP rebasing would mean updating the base year used to calculate the Gross Domestic Product (GDP) to reflect current economic realities....