The National Orientation Agency (NOA) and the National Bureau of Statistics (NBS) have partnered to launch a nationwide awareness campaign aimed at clarifying Nigeria’s ongoing rebasing of gross domestic product (GDP).
In a joint statement on Thursday, the agencies said the partnership is designed to promote transparency, inclusiveness, and better public understanding of what the rebasing means for the country’s economy. They also unveiled the essential details surrounding the planned rebasing of Nigeria’s Gross Domestic Product (GDP).”
NOA said, “This collaboration seeks to foster transparency, inclusivity, and public understanding of the process and its implications for the national economy.
“By shedding light on the methodology, key indicators, and economic sectors now included in the revised calculations, the two agencies seek to ensure that citizens are not only aware of the changes but also understand the reason for the exercise.
“The rebasing reflects an updated and more accurate picture of Nigeria’s economic landscape, accounting for emerging industries and current market realities.
This underscores the commitment of NOA and NBS to carry Nigerians along in major economic decisions while also dispelling misconceptions and promoting informed public discourse.
It also reaffirms the importance of data-driven governance and inclusive economic planning, especially in a dynamic and fast-evolving global economy.”
The NBS, earlier in January, said that rebased GDP will now capture modular refineries and unlawful or hidden activities.
This will also include sectors like the Nigerian Social Insurance Trust Fund, digital economic activities, pension fund administrators, domestic households as employers of labor, the National Health Insurance Scheme, and quarrying and other mining activities.
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