Nigeria’s National Bureau of Statistics headquarters in Abuja, where officials confirmed Q1 2025 GDP rebasing. Image credit: NBS
Abuja, Nigeria — September 19, 2025 — Epicstorian News today reported that Nigeria economy expanded by 3.13 percent in the first quarter of 2025, following a major rebasing of the country’s Gross Domestic Product (GDP) announced by the National Bureau of Statistics (NBS).
The rebasing exercise updated Nigeria’s GDP base year to 2021, capturing fast-growing industries such as digital services, fintech, and the creative sector.
Post-rebasing ensures Nigeria Economy receives improved planning
According to NBS Chief Statistician Semiu Adeniran, the rebasing was designed to ensure GDP data reflects the modern economy. “This rebasing ensures our GDP data mirrors today’s economy more accurately and provides policymakers with stronger tools for decision-making,” he said.
Epicstorian News coverage shows that services, agriculture, and telecommunications were the key drivers of growth, while oil production lagged behind due to output constraints.
Finance Minister Wale Edun welcomed the expansion, calling it “a sign of resilience and a base for improved planning.”
Meanwhile, Central Bank Governor Olayemi Cardoso noted that accurate statistics are critical to guiding monetary policy. “Accurate statistics are vital for stabilizing inflation and guiding Nigeria’s economy toward steady expansion,” he said.
International institutions have also responded. Analysts at the World Bank and the International Monetary Fund (IMF) noted that the rebasing strengthens Nigeria’s comparability with peer economies and provides more clarity for investors.
Related: How sectors like real estate and trade are shaping Nigeria’s post-rebasing economy
This is the first major rebasing since 2014, when GDP figures rose by nearly 90 percent, placing Nigeria briefly as Africa’s largest economy.
Epicstorian News will continue monitoring economic indicators and sectoral updates as Nigeria adapts to the rebased GDP framework.
—
About Epicstorian News
Epicstorian News is a global digital news platform delivering fact-based, real-time reporting on economics, politics, and world affairs. With a commitment to accuracy and depth, the digital news media agency provides internationally relevant stories that serve readers across the globe.
Media Contact
Epicstorian News Media Relations
📧 press@epicstorian.com
🌍 www.epicstorian.com
