Nigeria to delay rebasing of GDP until next year

Nigeria to delay rebasing of GDP until next year

The rebasing of Nigeria’s gross domestic product (GDP), which is expected to increase the estimated size of Africa’s second-largest economy by about 40 percent, was likely to be delayed until next year, the head of the statistics bureau said yesterday. National Bureau of Statistics director general Yemi Kale said it was unlikely that they would be able to carry out the rebalancing by a target of the last quarter. The recalculation will enable Nigeria to join the ranks of middle-income countries and put it much closer in size to South Africa, the continent’s most developed economy. – Reuters