August 25, 2014

Nigeria will delay the release of second-quarter GDP data by a week because of a backlog of work caused by a rebasing exercise, the National Bureau of Statistics (NBS) said on Monday.

GDP data is scheduled for release 45 days after the end of each quarter, though the NBS does not always keep to a precise schedule with data releases.

NBS Chief Executive Yemi Kale told Reuters that “the rebasing in April … took us off our normal quarterly schedule” by creating a backlog of adjusting work.

The rebasing almost doubled the size of its economy to $510 billion, making Nigeria Africa’s biggest economy, surpassing South Africa.

Reuters