GDP, CPI Rebasing Will Reflect Current Economic Reality - NBS

Statistician-General of the Federation (SGF)/Chief Executive, National Bureau of Statistics (NBS), AdeyemiAdeniran, yesterday, clarified that the rationale for the proposed rebasing of the country’s Gross Domestic Product (GDP) and Consumer Price Index (CPI) was to ensure that economic indicators accurately reflected the current structure of the economy.
There were indications that NBS will unveil the rebased indicators on Friday. Adeniran said this would incorporate new and emerging sectors, updating consumption baskets, and refining data collection methods.
He added that the measurement of the indicators was critical to ensuring that government, policymakers, civil society organisations (CSOs), and other users access accurate and most recent numbers, to enable them track the impact of their policies and programmes, as well as their implications on the citizens.
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