The federal government has announced plans to rebase Nigeria’s Consumer Price Index (CPI) and Gross Domestic Product (GDP) by 2025 in a bid to improve policy accuracy and attract more investment.
This update was shared through a statement posted on the Ministry of Finance’s official X (formerly Twitter) account, following a meeting between the Statistician General of the Federation, Adeyemi Adeniran, and his team, and Minister of Finance, Wale Edun.
During the meeting, Adeniran provided a detailed update on the ongoing rebasing process for both the CPI and GDP. The Ministry confirmed that the validation and official launch of the updated figures are scheduled for early 2025.
The statement emphasized that the rebasing efforts are expected to enhance Nigeria’s economic management systems and strengthen the country’s position as a leading economic force in Africa. “These updated frameworks are anticipated to boost investor confidence by offering a clearer, more accurate representation of the nation’s economic landscape,” the Ministry noted.
Additionally, the rebasing exercise aims to improve global comparability by aligning Nigeria’s economic indicators with international standards. The Ministry further highlighted that this initiative would deliver significant economic benefits, paving the way for more informed decision-making and greater international recognition of Nigeria’s economic performance.
