In its recently published rebased Gross Domestic Product figures, the National Bureau of Statistics (NBS) revealed, a rebased GDP of N372.82 trillion in 2024, which is real growth rate of 3.38%.
According to NBS Nigeria: “The National Bureau of Statistics has published the rebased Gross Domestic Product figures, using a base year of 2019.
“In nominal terms, the rebased GDP for 2019 stood at N205.09trillion, N213.63 trillion in 2020, N243.30 trillion in 2021, N274.23 trillion in 2022, N314.02 trillion in 2023, and N372.82 trillion in 2024.
“This revision represents a 41.7% increase in nominal estimates compared to a 59.7% revision in the 2010 rebasing exercise.
“Real GDP growth in 2020 stood at -6.96% and improved to 0.95% in 2021. Higher growth rates were recorded in 2022 and 2023, at 4.32% and 3.04%, respectively. While 2024 recorded a real GDP growth rate of 3.38%.”
The National Bureau of Statistics (NBS) reports a year-on-year real GDP growth of 3.13% for Nigeria in the first quarter of 2025, surpassing the 2.27% recorded in Q1 2024.
