• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Nigeria to Rebase Inflation, GDP Data in 2025 to Drive Policy Accuracy, Investment

9 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
83
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Nigeria to Rebase Inflation, GDP Data in 2025 to Drive Policy Accuracy, Investment

Nigeria is set to rebase the country’s Consumer Price Index (CPI) and Gross Domestic Product (GDP) by 2025 to enhance policy accuracy and boost investor confidence.

This was disclosed in a statement on the official X (formerly Twitter) account of the Ministry of Finance following a meeting between the Statistician General of the Federation, Adeyemi Adeniran, and his team.

According to the Ministry, Adeniran met with Minister Wale Edun to provide a comprehensive update on the ongoing rebasing of the CPI and GDP.

The Ministry further announced that the validation and launch are scheduled for early 2025.

“The Statistician-General of the Federation, Prince Adeyemi Adeniran, and his team met with the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, at Finance HQ earlier today to present a comprehensive update on the ongoing rebasing of the Consumer Price Index (CPI) and Gross Domestic Product (GDP). 

“Set for validation and launch in early 2025, these updated frameworks are expected to strengthen Nigeria’s economic management systems and solidify its position as a leading economic force in Africa,” the Ministry said.  

RelatedPosts

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut

Public Transport Fares to Rise by 20% From August 8 

Shipping Giant, Maersk ends Direct US Trade Route to Africa’s Largest Economy

Economic benefits for rebasing  

Accordingly, the Ministry stated that the rebasing effort will also deliver economic benefits for the country.

It highlighted that the update will boost investor confidence by providing a clearer and more reliable depiction of the economy.

Furthermore, the Wale Edun-led Ministry noted that the exercise will enhance global comparability by aligning Nigeria’s economic indicators with international standards.

“The rebasing of the CPI and GDP promises substantial economic benefits, including enhanced policy accuracy through more precise fiscal and monetary data, increased investor confidence with a clearer and more reliable depiction of the economy, and improved global comparability by aligning Nigeria’s economic indicators with international standards,” the statement added.  

What you should know 

There has been an ongoing conversation about rebasing Nigeria’s gross domestic product (GDP) data to better capture the informal sector.

According to estimates, Nigeria’s informal sector, which is only faintly reflected in the GDP, contributes about 60% of the country’s economic activities.

  • Rebasing GDP and inflation data involves changing the methodology used to calculate these figures, a move expected to enhance accuracy in policy-making decisions.
  • Interestingly, under the current methodology, Nigeria’s GDP has dropped significantly in dollar value, causing the country to slip from its previous rank as 1st in Africa to 4th place.
  • In 2023, the Nigerian Bureau of Statistics (NBS) updated its unemployment data methodology to include casual and self-employed workers. This change led to a significant drop in the unemployment rate from 33.3% to about 5%.
  • While this adjustment has faced criticism for not reflecting the true unemployment situation in Nigeria, the NBS has defended its position, stating that the methodology aligns with global best practices.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Africa’s Biggest Stock Exchange Considers Extending Trading to 24 Hours

Lewis Hamilton’s Future at Ferrari in Question After Tough Hungarian GP

Transfer DealSheet: Latest on Benjamin Sesko, Nicolas Jackson and More

Gov’t Targets 650,000 Tonnes of Cocoa Production for 2025/26 Crop Season, Eyes 1 Million Tonne Output in the Long-term 

Shoprite to Exit Ghana and Malawi Sharpening Focus on Core South African Market

Gold Fields Forecasts Total Gold Production of 2.4 Million Ounces for 2025

Trending

Features

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut

August 5, 2025

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut Renowned public policy...

Public Transport Fares to Rise by 20% From August 8 

August 5, 2025

Shipping Giant, Maersk ends Direct US Trade Route to Africa’s Largest Economy

August 5, 2025

Africa’s Biggest Stock Exchange Considers Extending Trading to 24 Hours

August 5, 2025

Lewis Hamilton’s Future at Ferrari in Question After Tough Hungarian GP

August 5, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.