In a strategic move to deepen public understanding of national economic data, the National Orientation Agency (NOA) has partnered with the National Bureau of Statistics (NBS) to drive inclusive awareness on the ongoing rebasing of Nigeria’s Gross Domestic Product (GDP). The collaboration was formally presented during a sensitisation event aimed at demystifying the rebasing process and its broader implications for national development.
Both agencies unveiled key aspects of the current rebasing exercise, including updates to the statistical methodology, incorporation of revised economic indicators, and recognition of emerging sectors that reflect the dynamic nature of Nigeria’s economy. The move is expected to present a more realistic picture of the country’s economic structure and ensure alignment with international statistical standards.
Director-General of the NOA, Mallam Isa Lanre-Onilu, speaking at the event, emphasised that GDP rebasing is more than a technical adjustment; it is a crucial exercise that speaks to the evolution of the Nigerian economy and its impact on planning and development outcomes. He underscored the importance of citizen participation in understanding how national data translates to real-life decisions and policy-making.
“The rebasing of our GDP is not just a statistical exercise. It is a reflection of our economic growth, diversification, and emerging realities. Nigerians must be carried along, because understanding this process helps us all appreciate the direction of national planning and what it means for our daily lives,” Lanre-Onilu stated.
The NOA’s involvement in the project highlights its core mandate of bridging the gap between government policies and public perception. With nationwide advocacy and grassroots-level engagements, the agency aims to debunk myths surrounding GDP rebasing and encourage a well-informed public discourse.
The GDP rebasing, which was last carried out in 2014, is a critical tool for measuring economic performance more accurately. It ensures that outdated base years do not distort the actual size and composition of the economy. By reflecting recent developments such as technological innovation, service sector growth, and new investment patterns, the rebased GDP offers a more robust foundation for economic analysis and policy formulation.
With this renewed partnership, both NOA and NBS are reaffirming their commitment to transparency, data integrity, and public involvement in shaping Nigeria’s economic narrative.
