By recalculating the way it reports Gross Domestic Product (GDP) using 2013 as base year, Nigeria found its economy had leaped by 89% to $510 billion from the 1990 figures. The change, occasioned by a simple mathematical/statistical calculation, is the good news.
In real terms, nothing may have changed for the “man in the street” and the overall economy; but for the oil and gas sector, a lot has changed since the country calculated its GDP 24 years ago...
Written by Adedayo Ojo
CEO Caritas Communications
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