Separate the facts from fiction, from Sunday Osa

The gross domestic product (GDP) recently rebelled (GDP) or national production of the Nigerian economy arrives at a time this intuition and critical number are necessary for planning and global economic commitments.

We offer some important facts on Nigeria’s rebelled GDP to correct shared fiction and doubts that are created in some neighborhoods. Only a factual report will be sufficient – and we will indulge the politically motivated critics once.

Fact 1: Rebasing of GDP is an economic and accounting necessity, not an expedient

The reduction of Nigeria’s GDP by the National Bureau of Statistics (NBS) aligns with the best international practices. Nigeria’s last exercise was in 2014 during the administration of former President Goodluck Jonathan. This is not exactly an invention of the ALL PROGRESSives Congress Party. The countries rebel to capture new sectors and changing economic realities.

The current exercise is extraordinarily conservative and complies with the highest international standards. The reduction of the GDP and the consumer price index are accounting needs, even if they have been made after 11 years and after 6 years since they should have been made, according to the consultancy by multilateral agencies.

The new Nigeria GDP (2025) is now estimated at N372.8 trillion in 2024, based on the new basic year of 2019 – marking an increase of 41.7% from ₦ 314.02 trillion in 2023.

In terms of USD, this is equivalent to $ 243 billion, using the prevalent exchange rate of around 1,530/$ 1.

Royal GDP growth: Q1 2025 grew by 3.13% on an annual basis, compared to 2.27% in the first quarter 2024.

The debt-pil ratio decreased to about 39.4%, decreasing compared to the pre-report by approximately 52%.

Nigeria remains the fourth largest economy in Africa, dragging South Africa, Egypt and Algeria.

This provides clarity. We have an average that no serious government is blind on an obsolete economic basis as these practices could lead to an incorrect allocation of resources.

Fact 2: the debt-pil ratio is now more realistic

The debt / GDP ratio of Nigeria after the reduction dropped from 52% to about 39.4 %% is a lot below our peers:

Egypt: 93%

South Africa: 76%

Ghana: 67%

When it comes to borrowing, we must distinguish between solvency, liquidity and tax management. Even with lowered figures, Nigeria remains one of the least indicated great economies of Africa compared to GDP.

Fact 3: The administration of President Tinubu is offering measurable reforms and results

The Tinubu government is setting decades of abandonment with daring and necessary reforms:

Removal of the subsidy for petrol (savings on N7 trillions every year to redirect in infrastructure and social investments)

FX unification and market reforms: Restored credibility with IFIS, stabilized forex volatility.

Revenue growth: Faac allocations have reached a record of N1.9 monthly trillion in 2024.

Customs revenues increased by +70% in 2024 due to aggressive reforms.

Firs recorded a turnover of N21.6 trillion in 2024, the highest in recent history.

LPPC releases a list of 57 successful lawyers for the degree of San

Under the capital market of President Tinubu Nigeria he continues to climb. Nigeria’s All Share (ASI) index recorded 136% growth in 2 years. At 29 May 2023 there were 55,769 points. But as of 22 July 2025 it went up to 131,856 points. Likewise, market capitalization increased from N28.8 trillion to N75 trillion in the same period – a growth of 160%.

On the back of the reforms, Moody’s and Fitch have revised the prospects of Nigeria upwards towards “Stabile”.

Delivery of the infrastructure:

Lagos-Calabar coastal road in progress (first in 40 years).

Sokoto – Badagry Road in progress after he was abandoned 41 years ago.

Port Harcourt-Maiduguri Rail Revival.

The economy is expanding and creating more opportunities for Nigerians with properties that overtake the oil sector for rebel GDP. The service sector has also seen a significant push as a great economic factor.

With better tax management and economic management, the three levels of the government, in particular state and local governments, are able to comfortably satisfy their obligations and invest in social services and more impact projects.

Based on tax and tax reforms, progressive tax laws have been issued with cheaper prospects. Companies on small and medium scale and most of the Nigerian workers in the minimum wage band will enjoy tax relief from 1 January 2026.

Fact 5: the reforms of the energy and energy sector are bearing

Electricity Act 2023 Signed: allows state -of -the -level electric markets, unlocking decentralization.

Over 2,000 MW of blocked ability targeted for grilled absorption.

Power agreements signed with Germany, Siemens, United Arab Emirates to stabilize the supply.

Fact 6: insecurity is systematically degraded

The deaths related to terrorism have reduced statistically in the north-east within two years. Military operations by decimating bandits of bandits.

New security architecture that integrates technology, drones and community police.

Lagos: infrastructure boom, influx of investments

Kaduna: increasing digital industrial parks

Borno: agricultural revival due to security earnings

Berni Gwari Grain Fields and cocoa belts in the south -ovest who witness a boom

Rivers/pH: gas investments that expand under new deregulation

The reduction is a statistical recalibration to carefully measure productivity. Each patriot should see the meaning in the activity, carefully study the new structure of our economy, position and repositioning to maximize their contribution and the usefulness from them. Only the Nigerians will build Nigeria.

President Tinubu continues to face decades of rot with approved reforms globally. He warned the world that Nigeria is determined to build a dynamic economy.

● Domenica Dare is a special consultant of the President (media and public communication).

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