The Federal Government in collaboration with the World Bank have commenced the process to rebase Nigeria’s Gross Domestic Product. Experts describe GDP as the final value of the goods and services that are produced within a nation’s geographic boundaries during a specified period of time, normally within a year.
The growth rate of nation’s GDP is an important indicator of the economic performance of the country. Also, rebasing of GDP entails the replacement of the old base year used for compiling the GDP with a new, more recent, base year for computing the constant price estimates…
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