Nigeria’s economy grows 3.13% in Q1 2025 after GDP rebasing

Nigeria’s economy expanded by 3.13% year-on-year in the first quarter of 2025, following a major rebasing of the country’s gross domestic product (GDP), the National Bureau of Statistics announced on Monday.

The updated GDP figures use 2019 as the new base year and put the economy’s size at 372.8 trillion naira ($243.7 billion). The Q1 growth marks an improvement from the 2.27% recorded in the same period last year.

The Services…