Nigeria’s economy continues to evolve, and the recently rebased GDP, now benchmarked to 2019 instead of 2010, providing a more current reflection of sector size and performance.
The new base year helps reduce overstatement in older sectors and better captures emerging industries like digital services more effectively, yet inflation still pushed the nominal size of key sectors to record highs.
According to the National Bureau of Statistics (NBS), Nigeria’s Gross Domestic Product (GDP) in nominal terms rose to N94.05 trillion in Q1 2025, representing an 18.30% year-on-year growth from N79.51 trillion in Q1 2024. Details
