In a concerted effort to enhance transparency and bolster citizen engagement in economic decision-making, the National Orientation Agency (NOA) and the National Bureau of Statistics (NBS) have jointly revealed key aspects of the ongoing rebasing of Nigeria’s Gross Domestic Product (GDP). This collaborative initiative is strategically designed to foster greater public understanding and inclusivity throughout the rebasing process, which is geared towards providing a more precise and current depiction of the Nigerian economy.

According to a recent statement, by elucidating the revised methodology, updated indicators, and the incorporation of emerging sectors, both agencies aim to ensure that Nigerians not only comprehend the nature of these changes but also fully appreciate their broader economic implications. This initiative marks a significant step towards fostering a more informed and engaged populace, capable of understanding the intricacies of the national economy.

Speaking at a sensitization event, NOA Director-General, Mallam Isa Lanre Onilu, underscored the critical importance of engaging citizens in discussions surrounding national data and planning. He emphasized that the rebasing of Nigeria's GDP is not merely a statistical adjustment but a comprehensive national exercise reflecting the evolving nature of the economy. He stressed the necessity for Nigerians to understand the implications of this rebasing for policy formulation, national development, and their everyday lives.

The involvement of the NOA in this process highlights its core mandate: to bridge the gap between government policies and public awareness. Through nationwide advocacy and sensitization campaigns, the agency seeks to dispel any misconceptions related to GDP rebasing and promote informed dialogue across all sectors of society. This proactive approach ensures that citizens are well-informed and can participate meaningfully in discussions about the nation's economic future.

The GDP rebasing exercise, which was last conducted in 2014, is essential for aligning national data with global standards and accurately reflecting the true size and structure of the Nigerian economy. By including new industries such as technology, digital services, and the creative economy, the revised GDP figures are expected to provide a more accurate representation of current market realities. This alignment is crucial for attracting investment, informing policy decisions, and benchmarking Nigeria's economic performance against international standards.

Both the NOA and NBS have reaffirmed their unwavering commitment to data-driven governance and inclusive economic planning, particularly in today’s rapidly evolving global economy. They are actively encouraging citizens to engage with the rebasing process, ask questions, and stay informed as Nigeria charts a course toward a more transparent and dynamic economic future. This commitment to transparency and inclusivity is expected to foster greater trust and participation in the nation's economic development.