ABUJA (Reuters) -Nigeria’s economy expanded by 3.13% year-on-year in the first quarter of 2025, the statistics office said on Monday, following the rebasing of its gross domestic product (GDP) to better align with the current economic landscape.
Nigeria’s economy grew to 372.822 trillion naira ($243.66 billion) after rebasing, the statistics bureau chief told a news conference in the capital.
The National Bureau of Statistics (NBS) said several economic sectors, including marine, fishing shipping and ports, arts, culture, tourism, and e-commerce, have grown significantly since the last GDP rebasing in 2014, warranting their inclusion.
The 2014 rebasing had positioned Nigeria as Africa’s largest economy, surpassing South Africa, but the country has since lost ground due to naira devaluations under President Bola Tinubu’s administration.
(Reporting by Chijioke Ohuocha and Elisha Bala-Gbogbo Editing by Bate Felix)
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