Nigeria has retained its status as the fourth largest economy in Africa despite a rebasing exercise that expanded the country’s gross domestic product (GDP).
The National Bureau of Statistics (NBS) announced that the economy expanded to N372.8 trillion ($243 billion) in 2024, down from N314.02 trillion in the prior year as more sectors in the informal economy were considered in its calculations.
The statistics bureau adopted 2019 as its base year away from 2010 that’s previously reported.
