Nigeria gets new GDP figures 15yrs after
The federal government will on Sunday release the new Gross Domestic Product (GDP) figures, 15 years after the last one.
Information Minister Labaran Maku stated this yesterday while addressing State House journalists on the outcome of the Federal Executive Council (FEC) meeting chaired by Vice President Mohammed Namadi Sambo.
Maku said the Coordinating Minister for the Economy and Minister of Finance Ngozi Okonjo-Iweala told the council that after nearly 15 years, Nigeria was now ready to re-base its GDP.
He said the new GDP figures were the outcome of one-year’s hard work by the ministries of Finance and National Planning as well as the Office of the Chief Statistician to the Federation, International Monetary Fund (IMF), the African Development Bank (AfDB) and the International Development Bank (IDB).
According to him, on Sunday, the nation and the whole world will know scientifically what the new GDP figures are and the contributions of every sector to the economy.
He said the nation would also know a few economic sectors that had emerged in the last 10 years which were not yet properly captured.
The minister added that the new GDP figures would enhance government’s budget process and national planning.