Nigeria gets new GDP fig­ures 15yrs af­ter

Daily Trust - - BUSINESS - By Isi­aka Wak­ili

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.

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