Nigerias rebased Gross Domestic Product GDP figures have revealed a significant transformation in the countrys economic structure, shifting focus from oil dependency to a services-driven digital economy.
Speaking at the 3rd Economic Confidential Annual Lecture held in Abuja on Wednesday, Dr. Tope Fasua, Special Adviser to President Bola Ahmed Tinubu on Economic Affairs, described the rebased data as a clearer and more honest picture of the economy and a strong foundation for the implementation of the Federal Governments Renewed Hope Agenda for a Digital Global Economy.
According to the National Bureau of Statistics NBS, the rebasing of GDP to 2019 has recalibrated the nominal value of the economy to ?372.8 trillion 243 billion in 2024, an increase of over 30 percent from previous estimates. The rebased figures show that the services sector now accounts for 57.5 percent of GDP, while the non-oil sector contributed 96.03 percent in the first quarter of 2025.
